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

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Daily Stock Opinions and Ratings

Bellatrix Exploration Ltd. (BXE.TO)

0.38

-0.00 (0.00%)

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

66 watching

HOLD

The numbers have been ok, at this price hold on.

COMMENT

Have a big debt load they have to deal with. They are looking to sell off their Saskatchewan properties. Yield is great at $0.04 a month. Thinks they can sustain their yield. Likes it going forward, but there are definite dangers with this company. Management is a question mark.

DON'T BUY

Sold some assets to bail out of its financial picture. Hasn't been able to get comfortable with the assets and management. Decline rates have been fairly high.

TOP PICK

Recently cut distributions by half but now at a point where they might be able to stabilize them. If gas prices stay at current levels, distributions should be safe. New CEO. Still some danger in that they have more debt than revenues.

HOLD

Believes the company is going to increase production in their heavy oil assets next year. Likes management. If gas prices go back up, they will have materially higher cash flows. Paying down debt. Selling off weaker assets.

DON'T BUY

Probably at the lower end of quality in the oil/gas trust sector. There are a lot of better names out there.

DON'T BUY

One of the lower quality trusts. Post Halloween tried to convert back into a corporation, but because of a nasty proxy battle, they were forced to remain as a trust and continue to pay out the high yield. Stems from disappointment of investors, in the management teams.

BUY

Had some issues and feels it was oversold. Should come back.

SELL

Not a very good corporation and a poor trust. Poor quality management.

COMMENT

Changed back from a trust to a corporation and changed their distribution to a much smaller dividend. Feels they did this to pay down debt.

WAIT

Will likely be a significant move of trusts de-trusting in the near future. A lot of trust funds are selling, as they can't own a non-trust because of their mandate. This trend will continue and at some time will allow for a great entry point.

DON'T BUY

Converting back to a corporation, so are no longer paying out 100% of their cash flow as distribution. Debt will be reduced with this. Had a “growth by exploration” mind set, so should never have been a trust.

WATCH

This one is a “ wait and see” situation.

DON'T BUY

Just announced that they were going to revert back to a corporation. He feels this was their way of reducing their distributions. Have set up a dividend at a much lower rate and will use excess cash flow to pay down debt. Company suffered from high decline rates with a little too much debt.

DON'T BUY

This industry has a depleting asset. This company is hard-pressed to get capital to grow so decided to go as a corporation. There are better companies.

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Bellatrix Exploration Ltd. (BXE.TO)