Bonanza Creek Energy, Inc. (NYSE:BCEI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $38.00 target price on the oil and gas producer’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.26% from the company’s previous close.

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 research analysts have also recently issued reports about the stock. KeyCorp reiterated a “hold” rating on shares of Bonanza Creek Energy in a report on Wednesday, September 6th. BidaskClub upgraded shares of Bonanza Creek Energy from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Finally, BMO Capital Markets cut their price target on shares of Bonanza Creek Energy from $30.00 to $25.00 and set a “market perform” rating on the stock in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $31.50.

Shares of Bonanza Creek Energy (NYSE BCEI) traded up 0.92% during trading on Tuesday, reaching $33.85. 183,354 shares of the company were exchanged. The firm’s market cap is $691.52 million. The stock’s 50-day moving average is $29.50 and its 200-day moving average is $44.88. Bonanza Creek Energy has a 52-week low of $23.33 and a 52-week high of $40.60.

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A number of institutional investors have recently added to or reduced their stakes in BCEI. Mangrove Partners purchased a new position in Bonanza Creek Energy during the second quarter worth about $39,717,000. Apollo Management Holdings L.P. purchased a new position in Bonanza Creek Energy during the second quarter worth about $35,158,000. Lord Abbett & CO. LLC purchased a new position in Bonanza Creek Energy during the second quarter worth about $14,207,000. JPMorgan Chase & Co. purchased a new position in Bonanza Creek Energy during the second quarter worth about $13,980,000. Finally, Wells Fargo & Company MN boosted its holdings in Bonanza Creek Energy by 6,203.4% during the second quarter. Wells Fargo & Company MN now owns 413,500 shares of the oil and gas producer’s stock worth $13,112,000 after purchasing an additional 406,940 shares during the last quarter. Institutional investors and hedge funds own 91.04% 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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