Bonanza Creek Energy (BCEI) Lifted to “Strong-Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Bonanza Creek Energy (NYSE:BCEI) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday morning. They currently have $32.00 price objective on the oil and gas producer’s stock.

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. “

Other analysts have also issued research reports about the company. BidaskClub upgraded Bonanza Creek Energy from a hold rating to a buy rating in a report on Friday, November 3rd. BMO Capital Markets set a $25.00 price target on Bonanza Creek Energy and gave the company a hold rating in a report on Tuesday, October 10th. Finally, KeyCorp reiterated a hold rating on shares of Bonanza Creek Energy in a report on Monday, November 13th. Five 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 has an average rating of Hold and an average price target of $28.50.

Shares of Bonanza Creek Energy (NYSE:BCEI) traded down $0.45 during trading hours on Tuesday, hitting $28.15. The company’s stock had a trading volume of 416,300 shares, compared to its average volume of 441,233. Bonanza Creek Energy has a fifty-two week low of $23.33 and a fifty-two week high of $40.60. The stock has a market capitalization of $584.97, a price-to-earnings ratio of -0.18 and a beta of 2.01.

Bonanza Creek Energy (NYSE:BCEI) last announced its earnings results on Wednesday, November 8th. The oil and gas producer reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $45.23 million during the quarter, compared to analyst estimates of $45.63 million. equities research analysts predict that Bonanza Creek Energy will post 0.49 earnings per share for the current year.

In other Bonanza Creek Energy news, major shareholder Whitebox Advisors Llc sold 300,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $31.59, for a total transaction of $9,477,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.57% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. Nationwide Fund Advisors increased its position in shares of Bonanza Creek Energy by 36.2% during the third quarter. Nationwide Fund Advisors now owns 15,718 shares of the oil and gas producer’s stock worth $519,000 after purchasing an additional 4,175 shares in the last quarter. Legal & General Group Plc acquired a new position in shares of Bonanza Creek Energy during the second quarter worth $156,000. Westwood Holdings Group Inc. acquired a new position in shares of Bonanza Creek Energy during the second quarter worth $181,000. Q Global Advisors LLC increased its position in shares of Bonanza Creek Energy by 6.7% during the third quarter. Q Global Advisors LLC now owns 130,533 shares of the oil and gas producer’s stock worth $4,306,000 after purchasing an additional 8,142 shares in the last quarter. Finally, Voya Investment Management LLC acquired a new position in shares of Bonanza Creek Energy during the second quarter worth $304,000. Institutional investors own 91.25% of the company’s stock.

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Bonanza Creek Energy Company Profile

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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