Bonterra Energy (BNE) Sets New 52-Week High Following Analyst Upgrade

Shares of Bonterra Energy Corp (TSE:BNE) hit a new 52-week high during trading on Thursday after Raymond James raised their price target on the stock from C$21.50 to C$22.50. The stock traded as high as C$17.66 and last traded at C$17.65, with a volume of 35825 shares. The stock had previously closed at C$17.35.

Other analysts also recently issued research reports about the company. TD Securities lifted their price target on Bonterra Energy from C$17.00 to C$19.00 and gave the company a “buy” rating in a research note on Thursday, May 10th. BMO Capital Markets lifted their price target on Bonterra Energy from C$13.00 to C$16.00 in a research note on Thursday, May 10th. Finally, CIBC lifted their price target on Bonterra Energy from C$15.00 to C$16.00 in a research note on Tuesday, March 20th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of C$19.00.

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In other news, Director Aidan Murphy Walsh purchased 3,000 shares of the company’s stock in a transaction on Friday, May 18th. The shares were purchased at an average price of C$16.71 per share, with a total value of C$50,130.00. Also, insider George Frederick Fink purchased 5,000 shares of the company’s stock in a transaction on Wednesday, May 16th. The stock was purchased at an average cost of C$16.58 per share, for a total transaction of C$82,900.00. Insiders acquired a total of 31,000 shares of company stock worth $473,060 in the last three months.

Bonterra Energy (TSE:BNE) last released its earnings results on Wednesday, May 9th. The company reported C$0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.13 by C($0.03). The company had revenue of C$57.12 million during the quarter, compared to analyst estimates of C$58.20 million. Bonterra Energy had a negative net margin of 7.05% and a negative return on equity of 2.33%.

The business also recently announced a monthly dividend, which will be paid on Tuesday, July 31st. Investors of record on Tuesday, July 31st will be given a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.72%. The ex-dividend date is Friday, July 13th.

About Bonterra Energy

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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