Bonanza Creek Energy, Inc. (BCEI) Receives Consensus Rating of “Hold” from Brokerages
Shares of Bonanza Creek Energy, Inc. (NYSE:BCEI) have been given an average recommendation of “Hold” by the six brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $25.00.
A number of equities analysts have weighed in on the stock. BidaskClub raised shares of Bonanza Creek Energy from a “sell” rating to a “hold” rating in a research note on Saturday, September 2nd. BMO Capital Markets reaffirmed a “hold” rating and set a $25.00 target price on shares of Bonanza Creek Energy in a research note on Friday, September 1st. Zacks Investment Research downgraded shares of Bonanza Creek Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 11th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Bonanza Creek Energy in a research note on Monday, November 13th.
Shares of Bonanza Creek Energy (BCEI) traded down $3.76 on Friday, reaching $28.38. The company’s stock had a trading volume of 637,156 shares, compared to its average volume of 411,570. Bonanza Creek Energy has a 1 year low of $23.33 and a 1 year high of $40.60.
Bonanza Creek Energy (NYSE:BCEI) last announced its earnings results on Wednesday, November 8th. The oil and gas producer reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.68. The firm had revenue of $45.23 million for the quarter, compared to the consensus estimate of $45.63 million. Bonanza Creek Energy had a negative return on equity of 3.17% and a negative net margin of 33.79%. sell-side analysts predict that Bonanza Creek Energy will post 0.37 earnings per share for the current fiscal year.
In related news, major shareholder Whitebox Advisors Llc sold 300,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $31.59, for a total transaction of $9,477,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in BCEI. Mangrove Partners purchased a new stake in Bonanza Creek Energy during the second quarter valued at approximately $39,717,000. Apollo Management Holdings L.P. acquired a new position in shares of Bonanza Creek Energy in the second quarter valued at approximately $35,158,000. Lord Abbett & CO. LLC acquired a new position in shares of Bonanza Creek Energy in the second quarter valued at approximately $14,207,000. JPMorgan Chase & Co. acquired a new position in shares of Bonanza Creek Energy in the second quarter valued at approximately $13,980,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Bonanza Creek Energy by 6,203.4% in the second quarter. Wells Fargo & Company MN now owns 413,500 shares of the oil and gas producer’s stock valued at $13,112,000 after purchasing an additional 406,940 shares in the last quarter. 93.57% of the stock is owned by institutional investors.
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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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