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Equities researchers at GMP Securities initiated coverage on shares of Bonanza Creek Energy (NASDAQ:BCEI) in a research report issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $74.00 price target on the stock. GMP Securities’ target price indicates a potential upside of 20.62% from the company’s current price.

A number of other analysts have also recently weighed in on BCEI. Analysts at Wunderlich raised their price target on shares of Bonanza Creek Energy from $65.00 to $72.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Mizuho raised their price target on shares of Bonanza Creek Energy from $61.00 to $70.00 in a research note on Thursday, June 19th. They now have a “buy” rating on the stock. Finally, 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. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $62.06.

Shares of Bonanza Creek Energy (NASDAQ:BCEI) traded down 2.35% during mid-day trading on Tuesday, hitting $59.91. 107,249 shares of the company’s stock traded hands. Bonanza Creek Energy has a 1-year low of $34.67 and a 1-year high of $62.94. The stock’s 50-day moving average is $52.36 and its 200-day moving average is $46.98. The company has a market cap of $2.420 billion and a P/E ratio of 34.70.

Bonanza Creek Energy (NASDAQ:BCEI) last issued its quarterly 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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