Bonterra Energy (TSE:BNE) Downgraded by Raymond James

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Raymond James cut shares of Bonterra Energy (TSE:BNE) from a strong-buy rating to an outperform rating in a research note issued to investors on Thursday, BayStreet.CA reports. The firm currently has C$8.00 target price on the stock, down from their previous target price of C$10.00.

Several other research analysts have also recently issued reports on the stock. CIBC decreased their price objective on shares of WestJet Airlines from C$22.00 to C$21.00 in a report on Tuesday, April 23rd. TD Securities increased their price objective on shares of WestJet Airlines from C$19.00 to C$20.00 and gave the company a hold rating in a report on Wednesday, May 8th. National Bank Financial decreased their price objective on shares of Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating for the company in a report on Tuesday, June 25th. AltaCorp Capital cut shares of TORC Oil and Gas from an outperform rating to a sector perform rating in a report on Tuesday, April 9th. Finally, Canaccord Genuity reiterated a buy rating and issued a $7.50 price objective on shares of in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of C$9.03.

TSE BNE opened at C$5.38 on Thursday. Bonterra Energy has a 52 week low of C$4.90 and a 52 week high of C$20.29. The company has a current ratio of 0.44, a quick ratio of 0.38 and a debt-to-equity ratio of 65.18. The company has a market cap of $179.63 million and a PE ratio of 34.27. The stock has a 50-day moving average price of C$5.48.

Bonterra Energy (TSE:BNE) last posted its quarterly earnings data on Monday, May 6th. The company reported C$0.04 earnings per share (EPS) for the quarter. The company had revenue of C$49.83 million during the quarter, compared to the consensus estimate of C$52.50 million. As a group, equities research analysts anticipate that Bonterra Energy will post 0.35 earnings per share for the current year.

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 31st will be issued a dividend of $0.01 per share. This represents a $0.12 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Friday, July 12th. Bonterra Energy’s payout ratio is 477.71%.

In other Bonterra Energy news, Director George Frederick Fink bought 15,000 shares of Bonterra Energy stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average cost of C$6.59 per share, for a total transaction of C$98,899.50. Following the completion of the acquisition, the director now owns 3,673,799 shares of the company’s stock, valued at approximately C$24,222,458.95. Insiders have purchased 80,000 shares of company stock valued at $464,889 over the last 90 days.

Bonterra Energy Company Profile

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 located in southwest Saskatchewan, and the Prespatou area located in northeast British Columbia.

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Analyst Recommendations for Bonterra Energy (TSE:BNE)

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