Bonanza Creek Energy, Inc. (NYSE:BCEI) Expected to Announce Quarterly Sales of $161.35 Million

Brokerages expect Bonanza Creek Energy, Inc. (NYSE:BCEI) to post sales of $161.35 million for the current quarter, Zacks reports. Four analysts have made estimates for Bonanza Creek Energy’s earnings, with the highest sales estimate coming in at $191.90 million and the lowest estimate coming in at $141.00 million. Bonanza Creek Energy reported sales of $58.86 million in the same quarter last year, which indicates a positive year-over-year growth rate of 174.1%. The business is expected to announce its next quarterly earnings results on Thursday, November 4th.

According to Zacks, analysts expect that Bonanza Creek Energy will report full year sales of $929.40 million for the current financial year, with estimates ranging from $809.60 million to $1.06 billion. For the next year, analysts anticipate that the firm will post sales of $2.10 billion, with estimates ranging from $1.98 billion to $2.21 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Bonanza Creek Energy.

Bonanza Creek Energy (NYSE:BCEI) last issued its earnings results on Sunday, August 8th. The oil and gas producer reported $1.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.33 by ($0.14). The company had revenue of $156.04 million for the quarter, compared to analysts’ expectations of $135.80 million. Bonanza Creek Energy had a net margin of 10.93% and a return on equity of 3.45%.

A number of analysts recently weighed in on BCEI shares. Zacks Investment Research lowered shares of Bonanza Creek Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, August 17th. Wells Fargo & Company lowered their price objective on shares of Bonanza Creek Energy from $64.00 to $57.00 and set an “overweight” rating for the company in a research note on Monday, August 23rd. TheStreet lowered shares of Bonanza Creek Energy from a “b-” rating to a “c+” rating in a research note on Monday, July 19th. KeyCorp upped their price objective on shares of Bonanza Creek Energy from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Thursday, June 17th. Finally, Truist upped their price objective on shares of Bonanza Creek Energy from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, June 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $54.80.

In other news, CFO Brant Demuth sold 1,700 shares of the company’s stock in a transaction dated Wednesday, September 8th. The shares were sold at an average price of $43.05, for a total transaction of $73,185.00. Following the transaction, the chief financial officer now owns 38,948 shares in the company, valued at $1,676,711.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Paul Keglevic sold 10,223 shares of the company’s stock in a transaction dated Wednesday, September 8th. The shares were sold at an average price of $42.78, for a total transaction of $437,339.94. Following the transaction, the director now owns 11,471 shares in the company, valued at approximately $490,729.38. The disclosure for this sale can be found here. Corporate insiders own 1.41% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. O Shaughnessy Asset Management LLC acquired a new position in shares of Bonanza Creek Energy during the second quarter valued at about $26,000. Fieldpoint Private Securities LLC acquired a new position in Bonanza Creek Energy in the 2nd quarter worth approximately $31,000. Captrust Financial Advisors increased its holdings in Bonanza Creek Energy by 3,217.5% in the 1st quarter. Captrust Financial Advisors now owns 1,327 shares of the oil and gas producer’s stock worth $47,000 after buying an additional 1,287 shares during the period. Ameritas Investment Partners Inc. increased its holdings in Bonanza Creek Energy by 35.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,420 shares of the oil and gas producer’s stock worth $114,000 after buying an additional 636 shares during the period. Finally, Yaupon Capital Management LP acquired a new position in Bonanza Creek Energy in the 1st quarter worth approximately $122,000.

Shares of BCEI opened at $43.85 on Wednesday. The firm has a market capitalization of $1.35 billion, a P/E ratio of 19.84 and a beta of 2.14. Bonanza Creek Energy has a 12-month low of $15.88 and a 12-month high of $50.98. The company has a current ratio of 0.62, a quick ratio of 0.56 and a debt-to-equity ratio of 0.14. The firm has a fifty day moving average price of $39.16 and a 200-day moving average price of $39.69.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Wednesday, September 15th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Tuesday, September 14th. Bonanza Creek Energy’s payout ratio is 28.28%.

Bonanza Creek Energy Company Profile

Bonanza Creek Energy, Inc engages in the extraction of oil and associated liquids-rich natural gas. It focuses on the Niobrara and Codell formations in the Denver-Julesburg Basin. The company was founded on December 2, 2010 and is headquartered in Denver, CO.

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Earnings History and Estimates for Bonanza Creek Energy (NYSE:BCEI)

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