Bonterra Energy (BNE) Downgraded by TD Securities to Hold

Bonterra Energy (TSE:BNE) was downgraded by stock analysts at TD Securities from a “buy” rating to a “hold” rating in a research note issued on Friday. They currently have a C$19.50 price objective on the stock, up from their previous price objective of C$19.00. TD Securities’ price target would suggest a potential downside of 0.76% from the company’s current price.

BNE has been the subject of several other reports. Raymond James increased their price target on shares of Bonterra Energy from C$21.50 to C$22.50 in a research note on Thursday, July 5th. CIBC increased their price target on shares of Bonterra Energy from C$16.50 to C$18.00 in a research note on Friday, July 20th. National Bank Financial raised 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 research note on Monday, July 23rd. BMO Capital Markets raised their price objective on shares of Bonterra Energy from C$13.00 to C$16.00 in a research note on Thursday, May 10th. Finally, Eight Capital raised their price objective on shares of Bonterra Energy from C$19.00 to C$19.35 in a research note on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Bonterra Energy has a consensus rating of “Buy” and a consensus price target of C$19.73.

Shares of Bonterra Energy stock traded up C$0.39 during trading on Friday, hitting C$19.65. The company’s stock had a trading volume of 98,712 shares, compared to its average volume of 123,649. Bonterra Energy has a 52 week low of C$12.26 and a 52 week high of C$19.98.

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

In other news, insider George Frederick Fink acquired 5,000 shares of Bonterra Energy stock in a transaction on Wednesday, May 16th. The stock was acquired at an average cost of C$16.58 per share, for a total transaction of C$82,900.00. Also, Director Aidan Murphy Walsh purchased 3,000 shares of Bonterra Energy stock in a transaction dated Friday, May 18th. The stock was bought at an average price of C$16.71 per share, with a total value of C$50,130.00. Over the last 90 days, insiders have acquired 16,000 shares of company stock valued at $261,260.

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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