Bonavista Energy Corp (TSE:BNP) shares traded down 3.8% on Thursday . The company traded as low as C$2.44 and last traded at C$2.54. 634,525 shares were traded during trading, a decline of 11% from the average session volume of 714,624 shares. The stock had previously closed at C$2.64.

A number of research analysts have recently weighed in on the stock. TD Securities increased their target price on shares of Bonavista Energy Corp from C$3.25 to C$3.75 and gave the company a “buy” rating in a research report on Friday, July 28th. Barclays PLC reduced their target price on shares of Bonavista Energy Corp from C$4.00 to C$3.50 in a research report on Monday, July 24th. National Bank Financial increased their target price on shares of Bonavista Energy Corp from C$3.00 to C$3.50 and gave the company a “sector perform” rating in a research report on Friday, November 3rd. Raymond James Financial, Inc. reduced their target price on shares of Bonavista Energy Corp from C$2.75 to C$2.25 and set a “market perform” rating for the company in a research report on Friday, November 3rd. Finally, AltaCorp Capital downgraded shares of Bonavista Energy Corp from an “outperform” rating to a “sector perform” rating in a research report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of C$4.33.

In related news, Director Keith A.J. Macphail sold 55,000 shares of the company’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of C$3.09, for a total transaction of C$169,950.00.

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About Bonavista Energy Corp

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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