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Equities researchers at Raymond James cut their price objective on shares of Bonanza Creek Energy (NASDAQ:BCEI) from $75.00 to $70.00 in a research report issued on Friday. Raymond James’ price objective indicates a potential upside of 21.15% from the stock’s previous close.

Bonanza Creek Energy (NASDAQ:BCEI) opened at 57.78 on Friday. Bonanza Creek Energy has a 52-week low of $37.00 and a 52-week high of $62.94. The stock has a 50-day moving average of $58.5 and a 200-day moving average of $50.33. The company has a market cap of $2.334 billion and a P/E ratio of 32.34.

Bonanza Creek Energy (NASDAQ:BCEI) last issued its quarterly earnings data on Friday, August 8th. The company reported $0.52 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.68 by $0.16. The company had revenue of $151.68 million for the quarter, compared to the consensus estimate of $150.69 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 79.5% on a year-over-year basis. Analysts expect that Bonanza Creek Energy will post $2.77 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Macquarie upgraded shares of Bonanza Creek Energy from a “neutral” rating to an “outperform” rating in a research note on Tuesday. They now have a $70.00 price target on the stock. Separately, analysts at Zacks upgraded shares of Bonanza Creek Energy from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 22nd. They now have a $64.70 price target on the stock. Finally, analysts at Topeka Capital Markets raised their price target on shares of Bonanza Creek Energy from $68.00 to $70.00 in a research note on Monday, July 14th. They now have a “buy” rating on the stock. Six research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Bonanza Creek Energy has a consensus rating of “Buy” and a consensus price target of $64.23.

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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