Bonterra Energy, $53.94, symbol BNE on Toronto (Shares outstanding: 31.2 million; Market cap: $1.7 billion; www.bonterraenergy.com), produces oil and gas in Alberta, Saskatchewan and northeastern B.C., with a focus on the Pembina Cardium area of central Alberta. Its output is 68% oil and 32% gas.
In the three months ended September 30, 2013, the company produced 11,794 barrels of oil equivalent a day (including gas), up 76.9% from 6,666 a year earlier. Cash flow per share rose 36.4%, to $1.50 from $1.10.
The company’s long-term debt of $147.2 million is just 8.7% of its $1.7-billion market cap. That, plus its rising cash flow, gives it the funds to keep drilling and increasing its output. The stock trades at 8.5 times Bonterra’s forecast 2014 cash flow of $6.38 a share.
The company is raising its monthly dividend by 3.6% with the December 2013 payment, to $0.29 from $0.28. The shares now yield 6.5%, based on that new dividend rate.
Bonterra Energy is okay for…
Privacy Policy and Terms of Use
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Changes to this Policy
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