Bonanza Creek Energy Inc (NYSE:BCEI) Receives $36.67 Consensus Target Price from Brokerages

Bonanza Creek Energy Inc (NYSE:BCEI) has been assigned a consensus rating of “Hold” from the seven research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $36.67.

Several brokerages have recently commented on BCEI. Zacks Investment Research downgraded Bonanza Creek Energy from a “strong-buy” rating to a “sell” rating in a research note on Friday, May 17th. Capital One Financial upgraded Bonanza Creek Energy from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 23rd. Finally, TheStreet upgraded Bonanza Creek Energy from a “d” rating to a “c-” rating in a research note on Friday, March 15th.

BCEI stock traded up $0.65 during mid-day trading on Tuesday, reaching $20.66. The company had a trading volume of 147,597 shares, compared to its average volume of 187,670. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.19 and a quick ratio of 1.17. Bonanza Creek Energy has a 52 week low of $17.64 and a 52 week high of $40.38. The stock’s 50 day moving average is $20.16. The company has a market capitalization of $426.09 million, a P/E ratio of 4.35 and a beta of 1.53.

Bonanza Creek Energy (NYSE:BCEI) last issued its earnings results on Wednesday, May 8th. The oil and gas producer reported ($0.34) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by ($1.79). Bonanza Creek Energy had a return on equity of 20.92% and a net margin of 51.69%. The business had revenue of $72.59 million for the quarter, compared to the consensus estimate of $71.19 million. As a group, equities analysts expect that Bonanza Creek Energy will post 4.96 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oaktree Capital Management LP boosted its stake in Bonanza Creek Energy by 197.6% in the 4th quarter. Oaktree Capital Management LP now owns 1,700,156 shares of the oil and gas producer’s stock valued at $35,142,000 after purchasing an additional 1,128,948 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Bonanza Creek Energy by 136.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,239 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 715 shares during the period. Cooper Creek Partners Management LLC bought a new stake in Bonanza Creek Energy in the 1st quarter valued at $6,721,000. Dimensional Fund Advisors LP boosted its stake in Bonanza Creek Energy by 12.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,476,187 shares of the oil and gas producer’s stock valued at $30,513,000 after purchasing an additional 159,783 shares during the period. Finally, Royce & Associates LP boosted its stake in Bonanza Creek Energy by 4.3% in the 4th quarter. Royce & Associates LP now owns 376,734 shares of the oil and gas producer’s stock valued at $7,787,000 after purchasing an additional 15,500 shares during the period.

Bonanza Creek Energy Company Profile

Bonanza Creek Energy, Inc, an exploration and production company, focuses on the extraction of onshore oil and related liquids-rich natural gas in the United States. The company's primary oil and liquids-weighted assets are located in the Wattenberg Field in Colorado. As of December 31, 2018, it had proved reserves of 116.8 million barrel of oil equivalent.

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