Bonanza Creek Energy Inc. (BCEI) Downgraded by Zacks Investment Research to “Sell”
Bonanza Creek Energy Inc. (NYSE:BCEI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to 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. “
Other equities analysts have also issued research reports about the company. Deutsche Bank AG reduced their target price on Bonanza Creek Energy from $4.00 to $3.50 and set a “hold” rating for the company in a research note on Tuesday, June 14th. JPMorgan Chase & Co. lowered Bonanza Creek Energy from a “neutral” rating to an “underweight” rating in a research note on Tuesday, August 2nd. Stifel Nicolaus upgraded Bonanza Creek Energy from a “sell” rating to a “hold” rating in a research note on Thursday, September 29th. Cantor Fitzgerald restated a “hold” rating and issued a $3.00 target price on shares of Bonanza Creek Energy in a research note on Wednesday, July 6th. Finally, Wunderlich downgraded Bonanza Creek Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, August 2nd. Nine analysts have rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. Bonanza Creek Energy has an average rating of “Hold” and an average target price of $6.82.
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Bonanza Creek Energy (NYSE:BCEI) traded down 1.83% during midday trading on Tuesday, hitting $1.07. The company had a trading volume of 1,127,208 shares. The firm’s market capitalization is $53.20 million. The company has a 50 day moving average price of $1.05 and a 200 day moving average price of $1.85. Bonanza Creek Energy has a 1-year low of $0.60 and a 1-year high of $9.54.
Bonanza Creek Energy (NYSE:BCEI) last issued its earnings results on Monday, August 1st. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.12. Bonanza Creek Energy had a negative return on equity of 20.86% and a negative net margin of 343.45%. Equities research analysts forecast that Bonanza Creek Energy will post ($1.38) earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of BCEI. LMR Partners LLP purchased a new stake in Bonanza Creek Energy during the second quarter valued at about $104,000. Cubist Systematic Strategies LLC acquired a new position in Bonanza Creek Energy during the second quarter worth $143,000. Prudential Financial Inc. raised its position in Bonanza Creek Energy by 1.0% in the second quarter. Prudential Financial Inc. now owns 94,320 shares of the company’s stock worth $190,000 after buying an additional 950 shares during the period. Paloma Partners Management Co acquired a new position in Bonanza Creek Energy during the second quarter worth $226,000. Finally, Bank of Montreal Can acquired a new position in Bonanza Creek Energy during the second quarter worth $268,000. Institutional investors own 72.83% of the company’s stock.
About Bonanza Creek Energy
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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