Zacks Investment Research downgraded 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.
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 equities analysts have also recently issued research reports about the company. BidaskClub cut Bonanza Creek Energy from a strong-buy rating to a buy rating in a report on Thursday, October 26th. KeyCorp reissued a hold rating on shares of Bonanza Creek Energy in a report on Wednesday, September 6th. Finally, BMO Capital Markets reissued a hold rating and set a $25.00 price target on shares of Bonanza Creek Energy in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $31.50.
Shares of Bonanza Creek Energy (BCEI) traded up 1.68% on Tuesday, hitting $34.40. The company had a trading volume of 83,810 shares. The company’s market capitalization is $702.76 million. Bonanza Creek Energy has a 12-month low of $23.33 and a 12-month high of $40.60. The firm has a 50-day moving average price of $32.30 and a 200 day moving average price of $36.00.
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Institutional investors have recently bought and sold shares of the company. Legal & General Group Plc acquired a new position in shares of Bonanza Creek Energy during the 2nd quarter worth $156,000. Westwood Holdings Group Inc. acquired a new position in shares of Bonanza Creek Energy during the 2nd quarter worth $181,000. Strs Ohio acquired a new position in shares of Bonanza Creek Energy during the 2nd quarter worth $199,000. Voya Investment Management LLC acquired a new position in shares of Bonanza Creek Energy during the 2nd quarter worth $304,000. Finally, Nationwide Fund Advisors acquired a new position in shares of Bonanza Creek Energy during the 2nd quarter worth $366,000. 91.03% of the stock is owned by institutional investors.
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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