Bonterra Energy (BNE) Reaches New 52-Week High at $19.70

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Bonterra Energy Corp (TSE:BNE)’s share price reached a new 52-week high on Tuesday . The stock traded as high as C$19.70 and last traded at C$19.69, with a volume of 75349 shares changing hands. The stock had previously closed at C$18.90.

Several research firms have weighed in on BNE. TD Securities lowered Bonterra Energy from a “buy” rating to a “hold” rating and increased their target price for the company from C$19.00 to C$19.50 in a research note on Friday, August 10th. Eight Capital increased their target price on Bonterra Energy from C$19.00 to C$19.35 in a research note on Thursday, August 9th. National Bank Financial increased their target price on 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. CIBC increased their target price on Bonterra Energy from C$16.50 to C$18.00 in a research note on Friday, July 20th. Finally, Raymond James increased their price target on Bonterra Energy from C$21.50 to C$22.50 in a report on Thursday, July 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of C$19.73.

The firm also recently declared a monthly dividend, which will be paid on Friday, August 31st. Shareholders of record on Friday, August 31st will be issued a $0.10 dividend. The ex-dividend date is Tuesday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 6.09%.

In other Bonterra Energy news, insider George Frederick Fink purchased 3,000 shares of the stock in a transaction on Friday, June 15th. The stock was bought at an average cost of C$16.01 per share, for a total transaction of C$48,030.00.

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.

Further Reading: What kind of dividend yield to CEF’s pay?

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