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

COMMENT

It is a "gassy trust", high % of its cash flow being paid out. Market is telling you that they are going to cut it. Buying depends on your outlook for gas prices. If you think that gas will be okay, stronger in the fall, it is probably a good entry point. If they cut it, it will go lower and it would be a better time to buy.

TRADE

True Energy Trust released its year end reserves about a week ago. Nobody really knows what is happening 1000-2000 metres below the ground. Assumptions are basd on production rates, decline rates and by production economics. True had quite a large revision and it was negative to its reserves. It has disappointed on production.

TRADE

Missing a production forcast. A high yield. It's shooting up a warning sign.

DON'T BUY

Sparked a little bit of controversy as someone commented on a possible distribution cut. Their payout ratio is about 90% which is high.

BUY

Reasonable upside in it. 15 to 20% over the next 12 months. Distribution is sustainable. Good one to hold.

DON'T BUY

Sold his position last week. Analysts are worried about the continual cut back in estimated production by a number of trusts.

WATCH

Relatively new. Hasn't seen any numbers on their payout ratio yet. A great yield. Large enough trust that it has a reasonable distribution of assets. A “wait and see” trust.

BUY

The high yield does not indicate a risk. This was a recent conversion to a trust and it takes time for the sellers of the old stock and the buyers of the new trust to bring the price to its proper level.

HOLD

An interesting story. Not his favourite. Has a $22/23 price started on it at which point he would probably sell it.

BUY

Has a target of $24 at which time it will yield 12%. A gas play. Likes it very much.

BUY

Yield is in excess of 14%. Production has gone from 4,000 BOE’s a day to about 13,000/14,000 but not many analysts covering it. Hoping that this will pick up.

WATCH

Relatively small. Will want to see how it performs over time. This was a reverse takeover of TKE Energy so 40% of the assets are new to the management. There are integration risks. About 10% of their operation is exploration drilling which he doesn't think is appropriate.

HOLD

Fairly valued at this level.

HOLD

Converted to a trust. Thinks manageemnt will be very proactive to grow the trust. One of the better teams out there.

BUY

Very gas oriented. About a 15% yield. The biggest knock against it is that it doesn't have any sponsorship on the street, but now that it is triple in size, it wilol start to be followed.

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Bellatrix Exploration Ltd. (BXE.TO)