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Shares of Bonanza Creek Energy (NASDAQ:BCEI) fell 7% during mid-day trading on Friday following a weaker than expected earnings announcement, Analyst Ratings Network.com reports. The stock traded as low as $42.30 and last traded at $42.83, with a volume of 1,440,953 shares traded. The stock had previously closed at $46.03.

The company reported $0.46 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.40 earnings per share. Bonanza Creek Energy’s revenue was up 62.7% compared to the same quarter last year.

A number of research firms have recently commented on BCEI. Analysts at Morgan Stanley cut their price target on shares of Bonanza Creek Energy from $54.00 to $49.00 in a research note on Friday. They now have an “equal weight” rating on the stock. Separately, 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. Finally, 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. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Bonanza Creek Energy presently has an average rating of “Buy” and a consensus price target of $55.77.

The stock has a 50-day moving average of $46.75 and a 200-day moving average of $46.23. The company has a market cap of $1.701 billion and a price-to-earnings ratio of 26.92.

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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