$87.08 Million in Sales Expected for Bonanza Creek Energy Inc (NYSE:BCEI) This Quarter

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Wall Street brokerages expect Bonanza Creek Energy Inc (NYSE:BCEI) to post sales of $87.08 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Bonanza Creek Energy’s earnings. The lowest sales estimate is $85.00 million and the highest is $88.90 million. Bonanza Creek Energy reported sales of $74.38 million during the same quarter last year, which indicates a positive year-over-year growth rate of 17.1%. The firm is expected to report its next quarterly earnings results on Thursday, November 14th.

According to Zacks, analysts expect that Bonanza Creek Energy will report full-year sales of $332.05 million for the current year, with estimates ranging from $326.00 million to $338.09 million. For the next year, analysts anticipate that the company will post sales of $387.51 million, with estimates ranging from $375.00 million to $394.62 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Bonanza Creek Energy.

Bonanza Creek Energy (NYSE:BCEI) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.37. The company had revenue of $85.78 million during the quarter, compared to analyst estimates of $85.02 million. Bonanza Creek Energy had a net margin of 61.37% and a return on equity of 21.73%.

Several research analysts recently issued reports on the stock. SunTrust Banks set a $24.00 price target on shares of Bonanza Creek Energy and gave the stock a “hold” rating in a research note on Friday, August 9th. Imperial Capital reiterated an “outperform” rating and issued a $30.00 price target (up from $28.00) on shares of Bonanza Creek Energy in a research note on Wednesday, July 24th. ValuEngine upgraded shares of Bonanza Creek Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Bonanza Creek Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, October 9th. Finally, KeyCorp assumed coverage on shares of Bonanza Creek Energy in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $26.00 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $26.75.

Shares of Bonanza Creek Energy stock opened at $19.58 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.05 and a quick ratio of 1.02. The company has a 50-day moving average of $22.84 and a 200 day moving average of $21.99. The firm has a market cap of $400.64 million, a price-to-earnings ratio of 4.21 and a beta of 1.48. Bonanza Creek Energy has a 1 year low of $17.64 and a 1 year high of $30.42.

In related news, CAO Sandra Garbiso sold 2,813 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $21.99, for a total transaction of $61,857.87. Following the sale, the chief accounting officer now directly owns 11,060 shares of the company’s stock, valued at approximately $243,209.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in BCEI. Nordea Investment Management AB raised its holdings in Bonanza Creek Energy by 3.7% in the 1st quarter. Nordea Investment Management AB now owns 44,400 shares of the oil and gas producer’s stock valued at $1,008,000 after acquiring an additional 1,600 shares during the period. FMR LLC raised its holdings in Bonanza Creek Energy by 18.0% in the 1st quarter. FMR LLC now owns 29,500 shares of the oil and gas producer’s stock valued at $669,000 after acquiring an additional 4,500 shares during the period. Denali Advisors LLC bought a new position in Bonanza Creek Energy in the 2nd quarter valued at about $77,000. WINTON GROUP Ltd bought a new position in Bonanza Creek Energy in the 2nd quarter valued at about $265,000. Finally, Virginia Retirement Systems ET AL raised its holdings in Bonanza Creek Energy by 2.2% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 28,500 shares of the oil and gas producer’s stock valued at $595,000 after acquiring an additional 600 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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Earnings History and Estimates for Bonanza Creek Energy (NYSE:BCEI)

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