FY2017 Earnings Estimate for Bonanza Creek Energy, Inc. Issued By KeyCorp (BCEI)
Bonanza Creek Energy, Inc. (NYSE:BCEI) – KeyCorp raised their FY2017 earnings estimates for shares of Bonanza Creek Energy in a research report issued to clients and investors on Tuesday. KeyCorp analyst D. Deckelbaum now forecasts that the oil and gas producer will earn $0.41 per share for the year, up from their prior estimate of $0.39. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Bonanza Creek Energy’s Q4 2017 earnings at $0.40 EPS, Q4 2018 earnings at $0.61 EPS, Q1 2019 earnings at $0.62 EPS, Q2 2019 earnings at $0.66 EPS, Q3 2019 earnings at $0.75 EPS and FY2019 earnings at $2.76 EPS.
Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Bonanza Creek Energy from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research report on Tuesday, October 10th. BidaskClub upgraded shares of Bonanza Creek Energy from a “hold” rating to a “buy” rating in a research report on Friday, September 22nd. Finally, BMO Capital Markets set a $25.00 price target on shares of Bonanza Creek Energy and gave the company a “hold” rating in a research report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $28.00.
Bonanza Creek Energy (NYSE:BCEI) last issued its quarterly earnings results on Wednesday, November 8th. The oil and gas producer reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.68. The business had revenue of $45.23 million during the quarter, compared to the consensus estimate of $45.63 million. Bonanza Creek Energy had a negative net margin of 33.79% and a negative return on equity of 3.17%.
A number of institutional investors have recently added to or reduced their stakes in the business. Nationwide Fund Advisors increased its stake in Bonanza Creek Energy by 36.2% in the 3rd quarter. Nationwide Fund Advisors now owns 15,718 shares of the oil and gas producer’s stock valued at $519,000 after buying an additional 4,175 shares during the period. Legal & General Group Plc acquired a new position in Bonanza Creek Energy in the 2nd quarter valued at approximately $156,000. Westwood Holdings Group Inc. acquired a new position in Bonanza Creek Energy in the 2nd quarter valued at approximately $181,000. Strs Ohio acquired a new position in Bonanza Creek Energy in the 2nd quarter valued at approximately $199,000. Finally, Q Global Advisors LLC increased its stake in Bonanza Creek Energy by 6.7% in the 3rd quarter. Q Global Advisors LLC now owns 130,533 shares of the oil and gas producer’s stock valued at $4,306,000 after buying an additional 8,142 shares during the period. Hedge funds and other institutional investors own 91.25% of the company’s stock.
In other Bonanza Creek Energy news, major shareholder Whitebox Advisors Llc sold 300,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $31.59, for a total value of $9,477,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.57% of the stock is currently owned by corporate insiders.
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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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