Bonterra Energy (BNE) Trading Down 12.6% After Analyst Downgrade

Bonterra Energy Corp (TSE:BNE) was down 12.6% during mid-day trading on Thursday after TD Securities lowered their price target on the stock from C$19.00 to C$14.50. TD Securities currently has a hold rating on the stock. Bonterra Energy traded as low as C$11.55 and last traded at C$12.35. Approximately 653,149 shares were traded during mid-day trading, an increase of 432% from the average daily volume of 122,831 shares. The stock had previously closed at C$14.13.

A number of other equities research analysts have also issued reports on BNE. CIBC upped their price objective on shares of Bonterra Energy from C$16.50 to C$18.00 in a report on Friday, July 20th. National Bank Financial upped their price objective on shares of Bonterra Energy from C$21.50 to C$23.00 and gave the company a “c$17.99” rating in a report on Monday, July 23rd. Eight Capital upped their price objective on shares of Bonterra Energy from C$19.00 to C$19.35 in a report on Thursday, August 9th. Raymond James lowered shares of Bonterra Energy from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from C$22.50 to C$22.00 in a report on Friday, October 5th. Finally, BMO Capital Markets upped their price objective on shares of Bonterra Energy from C$17.00 to C$18.00 in a report on Tuesday, October 9th.

In other news, insider George Frederick Fink acquired 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 18th. The stock was purchased at an average price of C$17.75 per share, with a total value of C$44,375.00.

The company has a current ratio of 0.52, a quick ratio of 0.39 and a debt-to-equity ratio of 64.57.

Bonterra Energy (TSE:BNE) last announced its earnings results on Wednesday, August 8th. The company reported C$0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.18 by C$0.09. The company had revenue of C$60.55 million for the quarter, compared to analysts’ expectations of C$59.70 million. Analysts predict that Bonterra Energy Corp will post 1.1099999720403 earnings per share for the current year.

The business also recently announced a monthly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be paid a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a yield of 11.41%. The ex-dividend date is Wednesday, November 14th. Bonterra Energy’s dividend payout ratio (DPR) is presently 351.91%.

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About Bonterra Energy (TSE:BNE)

Bonterra Energy Corp., an upstream oil and gas company, engages in the production and sale of crude oil, natural gas, and natural gas liquids. It primarily focuses on the development of its Cardium zone within the Pembina and Willesden Green areas located in west central Alberta. The company also holds interests in the Shaunavon area in Saskatchewan, and the Prespatou area of northeast British Columbia.

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