Bonanza Creek Energy Upgraded by ISI Group to “Buy” (BCEI)
Bonanza Creek Energy (NASDAQ:BCEI) was upgraded by research analysts at ISI Group from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $68.00 target price on the stock. ISI Group’s price objective indicates a potential upside of 28.25% from the stock’s previous close.
A number of other analysts have also recently weighed in on BCEI. Analysts at TopekaMLV Capital upgraded shares of Bonanza Creek Energy from a “hold” rating to a “buy” rating in a research note on Tuesday. They now have a $68.00 price target on the stock, up previously from $50.00. Separately, analysts at RBC Capital raised their price target on shares of Bonanza Creek Energy from $50.00 to $56.00 in a research note on Tuesday. They now have a “sector perform” rating on the stock. Finally, analysts at Topeka Capital Markets upgraded shares of Bonanza Creek Energy from a “hold” rating to a “buy” rating in a research note on Tuesday. They now have a $68.00 price target on the stock, up previously from $50.00. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Bonanza Creek Energy has a consensus rating of “Buy” and an average target price of $59.30.
Shares of Bonanza Creek Energy (NASDAQ:BCEI) traded down 1.02% on Tuesday, hitting $52.48. 465,061 shares of the company’s stock traded hands. Bonanza Creek Energy has a 52-week low of $33.20 and a 52-week high of $57.47. The stock’s 50-day moving average is $46.50 and its 200-day moving average is $45.7. The company has a market cap of $2.120 billion and a price-to-earnings ratio of 29.99.
Bonanza Creek Energy (NASDAQ:BCEI) last released its earnings data on Thursday, May 8th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 62.7% on a year-over-year basis. Analysts expect that Bonanza Creek Energy will post $2.73 EPS 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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