Bellatrix slashes its debt

Article Excerpt

BELLATRIX EXPLORATION $1.93 (Toronto symbol BXE; TSINetwork Rating: Speculative) (403-266-8670;; Shares outstanding: 49.3 million; Market cap: $95.2 million; No dividends paid) produces natural gas (75% of output) and oil (25%) in Alberta, B.C. and Saskatchewan. In the quarter ended September 30, 2017, Bellatrix produced an average 37,710 barrels of oil equivalent per day, up 9.6% from 34,409 a year earlier. However, cash flow per share fell 26.1%, to $0.17 from $0.23, mostly due to lower natural gas prices. Bellatrix continues to slash its debt: it’s now at $355.7 million, down 44% from a year earlier. As a result, its significantly lower interest expenses should let the company report cash flow of $1.62 a share in 2018. The stock trades at just 1.2 times that forecast. Bellatrix Exploration is a buy for aggressive investors. investors…

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