Zacks Investment Research lowered shares of Bonanza Creek Energy Inc (NYSE:BCEI) from a buy rating to a hold rating in a research note issued to investors on Tuesday, May 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. “
BCEI has been the topic of several other reports. Capital One Financial Corp. reissued an equal weight rating on shares of Bonanza Creek Energy in a research note on Tuesday, May 2nd. BMO Capital Markets reiterated a hold rating and set a $1.00 target price on shares of Bonanza Creek Energy in a report on Wednesday, March 22nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $21.13.
Bonanza Creek Energy (NYSE:BCEI) opened at 37.19 on Tuesday. The company’s market cap is $756.67 million. Bonanza Creek Energy has a 12-month low of $30.89 and a 12-month high of $40.60. The company has a 50-day moving average price of $63.46 and a 200 day moving average price of $146.85.
Bonanza Creek Energy (NYSE:BCEI) last released its quarterly earnings results on Wednesday, May 10th. The oil and gas producer reported ($0.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.22) by $0.02. Bonanza Creek Energy had a negative net margin of 343.94% and a negative return on equity of 55.38%. The firm had revenue of $52.56 million for the quarter. On average, analysts forecast that Bonanza Creek Energy will post ($64.93) EPS for the current fiscal year.
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A number of hedge funds have recently bought and sold shares of the company. Fir Tree Inc. increased its position in shares of Bonanza Creek Energy by 89.4% in the fourth quarter. Fir Tree Inc. now owns 3,812,915 shares of the oil and gas producer’s stock worth $3,889,000 after buying an additional 1,800,000 shares in the last quarter. JVL Advisors L.L.C. increased its position in shares of Bonanza Creek Energy by 5.7% in the fourth quarter. JVL Advisors L.L.C. now owns 2,406,032 shares of the oil and gas producer’s stock worth $2,454,000 after buying an additional 130,200 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Bonanza Creek Energy by 12.5% in the first quarter. Vanguard Group Inc. now owns 2,253,455 shares of the oil and gas producer’s stock worth $2,614,000 after buying an additional 250,316 shares in the last quarter. Warlander Asset Management LP acquired a new position in Bonanza Creek Energy during the fourth quarter worth about $1,020,000. Finally, KBC Group NV increased its position in Bonanza Creek Energy by 73.9% in the first quarter. KBC Group NV now owns 500,608 shares of the oil and gas producer’s stock worth $581,000 after buying an additional 212,675 shares in the last quarter. 52.11% of the stock is currently owned by institutional investors.
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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