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Equities research analysts at Morgan Stanley cut their target price on shares of Bonanza Creek Energy (NASDAQ:BCEI) from $54.00 to $49.00 in a research note issued to investors on Friday, StockRatingsNetwork.com reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 6.45% from the stock’s previous close.

The analysts wrote, “BCEI reported results of its 40-acre Niobrara downspacing pilot that appeared to show some communication vs. 80-acre spacing. We are lowering our price target to $49 to reflect no credit on 40-acre spacing. We expect BCEI to underperform tomorrow.”

Other equities research analysts have also recently issued reports about the stock. Analysts at Mizuho reiterated a “buy” rating on shares of Bonanza Creek Energy in a research note on Friday. They now have a $58.00 price target on the stock. Separately, analysts at Societe Generale reiterated a “hold” rating on shares of Bonanza Creek Energy in a research note on Friday. They now have a $52.00 price target on the stock. Finally, analysts at Brean Capital upgraded shares of Bonanza Creek Energy from a “hold” rating to a “buy” rating in a research note on Friday. They now have a $61.00 price target on the stock. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Bonanza Creek Energy currently has an average rating of “Buy” and an average price target of $55.77.

Bonanza Creek Energy (NASDAQ:BCEI) traded down 5.70% during mid-day trading on Friday, hitting $43.405. The stock had a trading volume of 784,582 shares. Bonanza Creek Energy has a one year low of $33.20 and a one year high of $57.47. The stock’s 50-day moving average is $46.75 and its 200-day moving average is $46.23. The company has a market cap of $1.748 billion and a price-to-earnings ratio of 26.92.

Bonanza Creek Energy (NASDAQ:BCEI) last announced its earnings results on Thursday, May 8th. The company reported $0.46 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.53 by $0.07. The company had revenue of $127.40 million for the quarter, compared to the consensus estimate of $124.05 million. During the same quarter in the prior year, the company posted $0.40 earnings per share. The company’s quarterly revenue was up 62.7% on a year-over-year basis. On average, analysts predict that Bonanza Creek Energy will post $2.86 earnings per share for the current fiscal year.

Bonanza Creek Energy, Inc is an oil and natural gas company engaged in the acquisition, exploration, development and production of onshore oil and associated liquids-rich natural gas in the United States.

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