Bonanza Creek Energy Shares Gap Up on Analyst Upgrade (BCEI)
Bonanza Creek Energy (NASDAQ:BCEI)’s share price gapped up prior to trading on Wednesday after SunTrust raised their price target on the stock from $62.00 to $74.00, Analyst Ratings Network.com reports. The stock had previously closed at $57.45, but opened at $57.47. SunTrust currently has a buy rating on the stock. Bonanza Creek Energy shares last traded at $59.00, with a volume of 355,082 shares trading hands.
BCEI has been the subject of a number of other recent research reports. Analysts at Macquarie downgraded shares of Bonanza Creek Energy from an “outperform” rating to a “neutral” rating in a research note on Monday. They now have a $64.00 price target on the stock. Separately, analysts at Capital One Financial Corp. initiated coverage on shares of Bonanza Creek Energy in a research note on Thursday, June 26th. They set an “overweight” rating and a $77.00 price target on the stock. Finally, analysts at GMP Securities initiated coverage on shares of Bonanza Creek Energy in a research note on Tuesday, June 24th. They set a “buy” rating and a $74.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Bonanza Creek Energy currently has an average rating of “Buy” and a consensus price target of $63.21.
In other Bonanza Creek Energy news, SVP Christopher Humber sold 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $57.25, for a total value of $257,625.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
The stock has a 50-day moving average of $56.26 and a 200-day moving average of $48.02. The company has a market cap of $2.390 billion and a price-to-earnings ratio of 32.51.
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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