Zacks Investment Research upgraded shares of Bonanza Creek Energy, Inc. (NYSE:BCEI) from a hold rating to a buy rating in a research note issued to investors on Thursday, May 11th. The firm currently has $43.00 price objective on the oil and gas producer’s stock.
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. “
Other analysts also recently issued reports about the company. Capital One Financial Corporation restated an equal weight rating on shares of Bonanza Creek Energy in a research note on Tuesday, May 2nd. BMO Capital Markets restated a hold rating and issued a $1.00 price target on shares of Bonanza Creek Energy in a research note on Wednesday, March 22nd. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Bonanza Creek Energy has a consensus rating of Hold and a consensus target price of $27.00.
Bonanza Creek Energy (NYSE BCEI) opened at 31.28 on Thursday. Bonanza Creek Energy has a 52 week low of $30.60 and a 52 week high of $40.60. The firm’s market capitalization is $636.42 million. The company has a 50 day moving average price of $36.94 and a 200-day moving average price of $139.18.
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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by $0.02. The firm had revenue of $52.56 million during the quarter. Bonanza Creek Energy had a negative net margin of 120.77% and a negative return on equity of 192.23%. Equities analysts predict that Bonanza Creek Energy will post ($51.89) earnings per share for the current year.
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Hedge funds have recently added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky bought a new stake in Bonanza Creek Energy during the first quarter worth $634,000. Scepter Holdings Inc. bought a new stake in Bonanza Creek Energy during the first quarter worth $117,000. Morgan Stanley increased its stake in Bonanza Creek Energy by 68.1% in the first quarter. Morgan Stanley now owns 304,684 shares of the oil and gas producer’s stock worth $354,000 after buying an additional 123,455 shares during the last quarter. Vanguard Group Inc. increased its stake in 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 during the last quarter. Finally, KBC Group NV increased its stake 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 during the last quarter.
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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