Zacks Investment Research lowered shares of Bonanza Creek Energy (NYSE:BCEI) from a strong-buy rating to a hold rating in a report released on Wednesday.
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. “
Several other equities research analysts have also recently weighed in on the company. ValuEngine cut Bonanza Creek Energy from a sell rating to a strong sell rating in a research note on Wednesday, May 2nd. Imperial Capital initiated coverage on Bonanza Creek Energy in a research note on Thursday, April 26th. They set an outperform rating and a $37.00 price objective on the stock. Finally, Telsey Advisory Group reduced their price objective on Bonanza Creek Energy from $53.00 to $50.00 and set an outperform rating on the stock in a research note on Friday, August 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $40.75.
Shares of NYSE BCEI opened at $31.87 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 0.08. Bonanza Creek Energy has a 1-year low of $23.33 and a 1-year high of $40.38. The company has a market cap of $665.12 million, a price-to-earnings ratio of 9.75 and a beta of 1.57.
Bonanza Creek Energy (NYSE:BCEI) last issued its quarterly earnings data on Wednesday, August 8th. The oil and gas producer reported $1.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.34 by ($0.16). Bonanza Creek Energy had a return on equity of 9.73% and a net margin of 7.47%. The company had revenue of $71.87 million for the quarter, compared to the consensus estimate of $70.66 million. analysts predict that Bonanza Creek Energy will post 5.52 EPS for the current fiscal year.
Several large investors have recently made changes to their positions in BCEI. Cubist Systematic Strategies LLC purchased a new position in shares of Bonanza Creek Energy during the first quarter valued at approximately $230,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Bonanza Creek Energy during the second quarter valued at approximately $245,000. Eqis Capital Management Inc. purchased a new position in shares of Bonanza Creek Energy during the second quarter valued at approximately $254,000. BlueMountain Capital Management LLC purchased a new position in shares of Bonanza Creek Energy during the second quarter valued at approximately $268,000. Finally, MetLife Investment Advisors LLC purchased a new position in shares of Bonanza Creek Energy during the fourth quarter valued at approximately $287,000.
About Bonanza Creek Energy
Bonanza Creek Energy, Inc engages in the exploration, development, and production of onshore oil and related liquids-rich natural gas in the United States. The company's oil and liquids-weighted assets are located primarily in the Wattenberg Field in Colorado; and the Dorcheat Macedonia Field in southern Arkansas.
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