KeyCorp Increases Bonanza Creek Energy (NYSE:BCEI) Price Target to $52.00

Bonanza Creek Energy (NYSE:BCEI) had its price target upped by KeyCorp from $50.00 to $52.00 in a research report report published on Thursday, Analyst Price Targets reports. They currently have an overweight rating on the oil and gas producer’s stock. KeyCorp also issued estimates for Bonanza Creek Energy’s Q3 2021 earnings at $1.46 EPS, Q4 2021 earnings at $1.76 EPS, FY2021 earnings at $5.32 EPS, Q1 2022 earnings at $1.96 EPS, Q2 2022 earnings at $1.73 EPS, Q3 2022 earnings at $1.78 EPS, Q4 2022 earnings at $1.97 EPS and FY2022 earnings at $7.46 EPS.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Bonanza Creek Energy from a strong-buy rating to a hold rating in a research report on Tuesday. Truist Securities upgraded shares of Bonanza Creek Energy from a hold rating to a buy rating and boosted their price objective for the stock from $30.00 to $40.00 in a research report on Wednesday, April 21st. Finally, Truist boosted their price objective on shares of Bonanza Creek Energy from $45.00 to $54.00 in a research report on Wednesday, May 12th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $37.71.

NYSE:BCEI opened at $48.36 on Thursday. Bonanza Creek Energy has a 1 year low of $14.02 and a 1 year high of $48.57. The firm has a 50 day moving average price of $38.50. The company has a market capitalization of $1.01 billion, a PE ratio of 41.33 and a beta of 2.01.

Bonanza Creek Energy (NYSE:BCEI) last posted its earnings results on Sunday, May 2nd. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.13. Bonanza Creek Energy had a net margin of 10.72% and a return on equity of 2.45%. As a group, research analysts forecast that Bonanza Creek Energy will post 5.38 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Tuesday, June 15th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Monday, June 14th.

In other news, CFO Brant Demuth sold 3,315 shares of the business’s stock in a transaction on Wednesday, May 12th. The shares were sold at an average price of $41.01, for a total value of $135,948.15. Following the completion of the transaction, the chief financial officer now owns 44,884 shares of the company’s stock, valued at approximately $1,840,692.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the company. HighTower Advisors LLC acquired a new position in shares of Bonanza Creek Energy in the 1st quarter valued at $1,403,000. Denali Advisors LLC lifted its position in Bonanza Creek Energy by 40.9% in the 1st quarter. Denali Advisors LLC now owns 142,892 shares of the oil and gas producer’s stock valued at $5,106,000 after acquiring an additional 41,458 shares in the last quarter. Knights of Columbus Asset Advisors LLC lifted its position in Bonanza Creek Energy by 25.0% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 74,752 shares of the oil and gas producer’s stock valued at $1,445,000 after acquiring an additional 14,962 shares in the last quarter. Foundry Partners LLC lifted its position in Bonanza Creek Energy by 2.6% in the 4th quarter. Foundry Partners LLC now owns 164,665 shares of the oil and gas producer’s stock valued at $3,183,000 after acquiring an additional 4,170 shares in the last quarter. Finally, EAM Global Investors LLC bought a new stake in Bonanza Creek Energy in the 1st quarter valued at $3,020,000.

About Bonanza Creek Energy

Bonanza Creek Energy, Inc, an oil and natural gas company, engages in the acquisition, exploration, development, and production of oil and related liquids-rich natural gas in the United States. Its primary oil and liquids-weighted assets are located in the Wattenberg Field in Colorado. As of December 31, 2020, the company had proved reserves of 118.2 million barrel of oil equivalent.

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Analyst Recommendations for Bonanza Creek Energy (NYSE:BCEI)

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