Zacks Investment Research cut shares of Bonanza Creek Energy (NYSE:BCEI) from a buy rating to a hold rating in a research note published on Monday morning.
According to Zacks, “Bonanza Creek Energy, Inc. is engaged in the acquisition, exploration and development of onshore oil and natural gas properties in the United States. The Company’s core operating areas are the DJ Basin in Colorado and the Cotton Valley formation in southern Arkansas. Bonanza Creek Energy, Inc. is based in Denver, Colorado. “
A number of other research analysts have also recently commented on BCEI. KeyCorp reissued a hold rating on shares of Bonanza Creek Energy in a report on Wednesday, September 6th. BidaskClub raised Bonanza Creek Energy from a hold rating to a buy rating in a report on Friday, September 22nd. Finally, BMO Capital Markets set a $25.00 price target on Bonanza Creek Energy and gave the stock a hold rating in a report on Tuesday, October 10th. Five research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Bonanza Creek Energy currently has an average rating of Hold and a consensus price target of $28.50.
Bonanza Creek Energy (BCEI) opened at $28.15 on Monday. Bonanza Creek Energy has a 12-month low of $23.33 and a 12-month high of $40.60. The firm has a market capitalization of $584.97 and a PE ratio of -0.06.
Bonanza Creek Energy (NYSE:BCEI) last posted its quarterly earnings data on Wednesday, November 8th. The oil and gas producer reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.68. Bonanza Creek Energy had a negative return on equity of 3.17% and a negative net margin of 33.79%. The firm had revenue of $45.23 million for the quarter, compared to analysts’ expectations of $45.63 million. analysts predict that Bonanza Creek Energy will post 0.49 EPS for the current year.
In other Bonanza Creek Energy news, major shareholder Whitebox Advisors Llc sold 500,000 shares of Bonanza Creek Energy stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $32.01, for a total value of $16,005,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.57% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. bought a new stake in Bonanza Creek Energy in the 2nd quarter worth approximately $13,980,000. Eaton Vance Management bought a new stake in Bonanza Creek Energy in the 2nd quarter worth approximately $12,564,000. Mangrove Partners increased its stake in Bonanza Creek Energy by 35.9% in the 3rd quarter. Mangrove Partners now owns 1,702,500 shares of the oil and gas producer’s stock worth $56,165,000 after acquiring an additional 450,000 shares during the last quarter. TIAA CREF Investment Management LLC bought a new stake in Bonanza Creek Energy in the 2nd quarter worth approximately $3,308,000. Finally, Q Global Advisors LLC increased its stake in Bonanza Creek Energy by 6.7% in the 3rd quarter. Q Global Advisors LLC now owns 130,533 shares of the oil and gas producer’s stock worth $4,306,000 after acquiring an additional 8,142 shares during the last quarter. 91.25% of the stock is currently owned by institutional investors and hedge funds.
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About Bonanza Creek Energy
Bonanza Creek Energy, Inc (Bonanza Creek) is an independent energy company engaged in the acquisition, exploration, development and production of onshore oil and associated liquids-rich natural gas in the United States. The Company’s oil and liquids-weighted assets are concentrated primarily in the Wattenberg Field in Colorado and the Dorcheat Macedonia Field in southern Arkansas.
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