Bonanza Creek Energy (NYSE:BCEI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday, January 9th.
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 firms have also issued reports on BCEI. BidaskClub lowered Bonanza Creek Energy from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. ValuEngine upgraded Bonanza Creek Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. BMO Capital Markets set a $25.00 target price on Bonanza Creek Energy and gave the stock a “hold” rating in a research note on Tuesday, October 10th. Finally, KeyCorp restated a “hold” rating on shares of Bonanza Creek Energy in a research note on Monday, November 13th. Six equities research analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus price target of $28.50.
Bonanza Creek Energy (NYSE:BCEI) last issued its quarterly earnings results on Wednesday, November 8th. The oil and gas producer reported $0.67 EPS for the quarter, beating analysts’ consensus estimates 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. equities 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 dated Wednesday, November 15th. The stock was sold at an average price of $31.59, for a total value of $9,477,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.57% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Legal & General Group Plc purchased a new stake in Bonanza Creek Energy during the 2nd quarter valued at about $156,000. Westwood Holdings Group Inc. purchased a new stake in Bonanza Creek Energy during the 2nd quarter valued at about $181,000. Voya Investment Management LLC purchased a new stake in Bonanza Creek Energy during the 2nd quarter valued at about $304,000. Nationwide Fund Advisors purchased a new stake in Bonanza Creek Energy during the 2nd quarter valued at about $366,000. Finally, American Century Companies Inc. purchased a new stake in Bonanza Creek Energy during the 2nd quarter valued at about $396,000. Hedge funds and other institutional investors own 91.25% of the company’s stock.
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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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