I thought that Bellatrix Exploration (NYSE:BXE) was a buy at $7.00 back in early August. Well 3 months later the shares have slid another 35% for no viable reason. Stepping back and looking at the big picture obviously all oil & gas exploration and production companies have gotten hammered. Some of this would definitely be warranted, but for the most part it is all exaggerated. For starters why should Bellatrix, a company with production that is 70% natural gas, be punished as bad as other E&P names that are mainly oil producers. While crude is down nearly 20% over the past 3 months, natural gas is up over 15% in the same period.
Bellatrix, a company that has shown growth and good results over and over, reported yet another solid quarter of results for Q3. Some highlights Y/Y from the Q3 results…
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(November 11, 2014 - 2:50 AM EST)
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