Bonanza Creek Energy Inc. (BCEI) Cut to “Sell” at Zacks Investment Research
Bonanza Creek Energy Inc. (NYSE:BCEI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Bonanza Creek Energy, Inc. is engaged in the acquisition, exploration and development of onshore oil and natural gas properties in the United States. The Company’s core operating areas are the DJ Basin in Colorado and the Cotton Valley formation in southern Arkansas. Bonanza Creek Energy, Inc. is based in Denver, Colorado. “
A number of other research firms have also recently weighed in on BCEI. Deutsche Bank AG lowered their target price on shares of Bonanza Creek Energy from $4.00 to $3.50 and set a “hold” rating on the stock in a research note on Tuesday, June 14th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $3.00 price objective on shares of Bonanza Creek Energy in a research note on Wednesday, July 6th. Stifel Nicolaus raised shares of Bonanza Creek Energy from a “sell” rating to a “hold” rating in a research note on Thursday, September 29th. SunTrust Banks Inc. cut shares of Bonanza Creek Energy from a “neutral” rating to a “reduce” rating in a research note on Wednesday, July 27th. Finally, Wunderlich cut shares of Bonanza Creek Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, August 2nd. Nine analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $6.82.
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Shares of Bonanza Creek Energy (NYSE:BCEI) traded down 1.83% during midday trading on Tuesday, reaching $1.07. The company had a trading volume of 1,006,873 shares. The company’s market capitalization is $53.20 million. The firm’s 50 day moving average price is $1.05 and its 200-day moving average price is $1.85. Bonanza Creek Energy has a 12 month low of $0.60 and a 12 month high of $9.54.
Bonanza Creek Energy (NYSE:BCEI) last announced its quarterly earnings data on Monday, August 1st. The company reported ($0.40) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.12. Bonanza Creek Energy had a negative net margin of 343.45% and a negative return on equity of 20.86%. Analysts anticipate that Bonanza Creek Energy will post ($1.38) earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in BCEI. LMR Partners LLP acquired a new position in shares of Bonanza Creek Energy during the second quarter valued at $104,000. Cubist Systematic Strategies LLC purchased a new stake in Bonanza Creek Energy during the second quarter valued at $143,000. Prudential Financial Inc. raised its stake in Bonanza Creek Energy by 1.0% in the second quarter. Prudential Financial Inc. now owns 94,320 shares of the company’s stock valued at $190,000 after buying an additional 950 shares during the period. Paloma Partners Management Co purchased a new stake in Bonanza Creek Energy during the second quarter valued at $226,000. Finally, Bank of Montreal Can purchased a new stake in Bonanza Creek Energy during the second quarter valued at $268,000. Institutional investors and hedge funds own 72.83% of the company’s stock.
Bonanza Creek Energy Company Profile
Bonanza Creek Energy, Inc (Bonanza Creek) is an independent energy company engaged in the acquisition, exploration, development and production of onshore oil and associated liquids-rich natural gas in the United States. The Company’s oil and liquids-weighted assets are concentrated primarily in the Wattenberg Field in Colorado and the Dorcheat Macedonia Field in southern Arkansas.
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