Shares of Bonavista Energy Corp (TSE:BNP) rose 7.4% during trading on Monday . The company traded as high as C$1.48 and last traded at C$1.45. Approximately 613,073 shares were traded during trading, a decline of 39% from the average daily volume of 1,005,559 shares. The stock had previously closed at C$1.35.
BNP has been the subject of a number of research reports. Raymond James Financial cut their target price on shares of Bonavista Energy from C$2.75 to C$2.25 and set a “market perform” rating for the company in a research note on Friday, November 3rd. National Bank Financial upped their price objective on shares of Bonavista Energy from C$3.00 to C$3.50 and gave the company a “sector perform” rating in a research note on Friday, November 3rd. Barclays dropped their price objective on shares of Bonavista Energy from C$3.50 to C$3.00 in a research note on Monday, October 30th. GMP Securities dropped their price objective on shares of Bonavista Energy from C$3.75 to C$3.25 in a research note on Tuesday, November 28th. Finally, Scotiabank cut shares of Bonavista Energy from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from C$4.00 to C$3.50 in a research note on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of C$2.97.
The firm has a market cap of $383.50, a P/E ratio of 3.22 and a beta of 0.95.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Friday, December 29th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.04 annualized dividend and a yield of 2.76%. Bonavista Energy’s dividend payout ratio is presently 8.89%.
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Bonavista Energy Company Profile
Bonavista Energy Corporation is a resource company engaged in the acquisition, exploration, development and production of oil and natural gas assets. The Company’s West Central Core Area is characterized by natural gas and light oil resources. West Central Core Area is located within the Western Canadian Sedimentary Basin (WCSB) between Calgary and Drayton Valley, Alberta.
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