Bellatrix Exploration Ltd. (BXE.TO) Buy, Sell…

Bellatrix Exploration Ltd. (BXE.TO)

0.38

-0.00 (0.00%)

as of Nov 8, 2019, 9:00:00 pm Market Open.

66 watching

TOP PICK

Formerly True Energy Income Trust. Had a management change, paid down debt and refocused the assets. Main reason to own this one is their enviable land position in the Pembina/Cardium. Production has grown from 5600 barrels a day (2009) to 10,000 currently in still showing great momentum on the operational side.

BUY

Recently bought some of this. Another way to play the Cardium. Have amassed a fairly large section to drill. Will probably be a takeover target in 3-4 years.

BUY

(Market Call Minute) Deep value player. Bombed out cheap natural gas stock with a really good balance sheet.

RISKY

Has a lot of production growth ahead of it. Has done a pretty good job of hedging. A little bit gas weighted. Expect natural gas prices will remain modest for the next little while. Good name to hold.

TOP PICK

Put it into his new portfolio. Fascinating company. At the epicenter to those companies moving from income trust to regular corporation. It was a spectacularly unsuccessful business trust. It proved the point that the model was a poor fit with exploration and development of oil and gas because you have to put money into capital expenditure and not into distributions.

BUY

Reincarnation of what was the true energy trust. Stock is a little bit expensive, but it’s hard to find a pier that isn’t. Management has really bought in and had a good run and it’s going to continue.

TOP PICK

Sold a lot of assets and issued some convertible debentures so they now have about $1 cash per share. In one of the hottest plays, the Cardium. Very reasonably priced.

BUY

New management team got the company involved in some of the hot areas in western Canada. Exceeded production guidance and upped it. There has been a takeover in the space that makes them look very cheap on a relative basis. Doing everything right.

HOLD

(Market Call Minute) Comfortable holding it – wouldn’t buy or sell.

DON'T BUY

Oil/natural gas. Halted distributions and cut back on exploration. Has a lot of debt. Very iffy and could go under.

SELL

(Market Call Minute.) Not one of his favourites. Too small and has a short reserve life.

HOLD

Paying about $.04 a month in distributions, which seems reasonable. Were looking to sell some of their Saskatchewan fields and unfortunately only sold one. Longer-term, natural gas will go up.

DON'T BUY

Because of management and its slate of properties, there are other trusts that he would rather own. Institutional market does not like it.

BUY

Not a typical income investment as it is more speculative than others. At a very interesting level. Should be able to see significant capital gains. 11.5% distribution is safe and they have a very low payout ratio.

BUY

It’s a good buy. Distribution is about 14%. Happy sticking with it. Excellent chance for capital appreciation.

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Bellatrix Exploration Ltd. (BXE.TO)