Bonanza Creek Energy Hits New 12-Month High After Analyst Upgrade (BCEI)
Bonanza Creek Energy (NASDAQ:BCEI) shares hit a new 52-week high during mid-day trading on Thursday after Mizuho raised their price target on the stock from $61.00 to $70.00, AR Network reports. Mizuho currently has a buy rating on the stock. Bonanza Creek Energy traded as high as $61.35 and last traded at $60.61, with a volume of 227,678 shares traded. The stock had previously closed at $60.13.
Several other analysts have also recently commented on the stock. Analysts at Howard Weil raised their price target on shares of Bonanza Creek Energy from $66.00 to $74.00 in a research note on Tuesday, June 10th. They now have a “sector outperform” rating on the stock. Separately, analysts at Global Hunter Securities raised their price target on shares of Bonanza Creek Energy from $60.00 to $67.00 in a research note on Tuesday, June 3rd. Finally, analysts at Raymond James upgraded shares of Bonanza Creek Energy from a “market perform” rating to a “strong-buy” rating in a research note on Monday, June 2nd. They now have a $70.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Bonanza Creek Energy has an average rating of “Buy” and an average price target of $61.06.
The stock has a 50-day moving average of $51.22 and a 200-day moving average of $46.67. The company has a market cap of $2.443 billion and a price-to-earnings ratio of 34.01.
Bonanza Creek Energy (NASDAQ:BCEI) last released its earnings data on Thursday, May 8th. 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. On average, analysts predict that Bonanza Creek Energy will post $2.73 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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