Bonanza Creek Energy Inc (NYSE:BCEI) Expected to Announce Quarterly Sales of $87.08 Million

Wall Street analysts expect that Bonanza Creek Energy Inc (NYSE:BCEI) will announce sales of $87.08 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Bonanza Creek Energy’s earnings. The lowest sales estimate is $85.00 million and the highest is $88.90 million. Bonanza Creek Energy reported sales of $74.38 million during the same quarter last year, which indicates a positive year over year growth rate of 17.1%. The company is expected to announce its next earnings report on Thursday, November 14th.

According to Zacks, analysts expect that Bonanza Creek Energy will report full year sales of $332.05 million for the current financial year, with estimates ranging from $326.00 million to $338.09 million. For the next financial year, analysts expect that the business will post sales of $387.51 million, with estimates ranging from $375.00 million to $394.62 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Bonanza Creek Energy.

Bonanza Creek Energy (NYSE:BCEI) last issued its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.37. Bonanza Creek Energy had a return on equity of 21.73% and a net margin of 61.37%. The business had revenue of $85.78 million during the quarter, compared to analyst estimates of $85.02 million.

A number of equities analysts recently issued reports on BCEI shares. ValuEngine raised Bonanza Creek Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Zacks Investment Research raised Bonanza Creek Energy from a “sell” rating to a “hold” rating in a report on Wednesday, October 9th. Imperial Capital reissued an “outperform” rating and issued a $30.00 price objective (up from $28.00) on shares of Bonanza Creek Energy in a report on Wednesday, July 24th. SunTrust Banks set a $24.00 price objective on Bonanza Creek Energy and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, KeyCorp began coverage on Bonanza Creek Energy in a report on Tuesday, September 3rd. They issued an “overweight” rating and a $26.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $26.75.

In other Bonanza Creek Energy news, CAO Sandra Garbiso sold 2,813 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $21.99, for a total transaction of $61,857.87. Following the completion of the transaction, the chief accounting officer now directly owns 11,060 shares of the company’s stock, valued at approximately $243,209.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of BCEI. Virginia Retirement Systems ET AL lifted its position in shares of Bonanza Creek Energy by 2.2% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 28,500 shares of the oil and gas producer’s stock valued at $595,000 after acquiring an additional 600 shares during the last quarter. CoreCommodity Management LLC lifted its position in shares of Bonanza Creek Energy by 6.1% during the 2nd quarter. CoreCommodity Management LLC now owns 14,731 shares of the oil and gas producer’s stock valued at $308,000 after acquiring an additional 846 shares during the last quarter. Hillcrest Asset Management LLC lifted its position in shares of Bonanza Creek Energy by 0.6% during the 2nd quarter. Hillcrest Asset Management LLC now owns 204,155 shares of the oil and gas producer’s stock valued at $4,263,000 after acquiring an additional 1,220 shares during the last quarter. Parallel Advisors LLC acquired a new stake in shares of Bonanza Creek Energy during the 2nd quarter valued at $27,000. Finally, Swiss National Bank lifted its position in shares of Bonanza Creek Energy by 4.7% during the 2nd quarter. Swiss National Bank now owns 28,700 shares of the oil and gas producer’s stock valued at $599,000 after acquiring an additional 1,300 shares during the last quarter.

Shares of BCEI stock opened at $19.58 on Friday. Bonanza Creek Energy has a 12-month low of $17.64 and a 12-month high of $30.42. The firm has a market capitalization of $400.64 million, a price-to-earnings ratio of 4.21 and a beta of 1.48. The business has a 50 day simple moving average of $22.84 and a 200 day simple moving average of $21.99. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.05 and a quick ratio of 1.02.

Bonanza Creek Energy Company Profile

Bonanza Creek Energy, Inc, an exploration and production company, focuses on the extraction of onshore oil and related liquids-rich natural gas in the United States. The company's primary oil and liquids-weighted assets are located in the Wattenberg Field in Colorado. As of December 31, 2018, it had proved reserves of 116.8 million barrel of oil equivalent.

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