Bonanza Creek Energy (BCEI) Downgraded by Zacks Investment Research to “Hold”

Bonanza Creek Energy (NYSE:BCEI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” 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. “

Several other analysts have also weighed in on the stock. ValuEngine upgraded shares of Bonanza Creek Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. KeyCorp reiterated a “hold” rating on shares of Bonanza Creek Energy in a research report on Monday, November 13th. Finally, BidaskClub lowered shares of Bonanza Creek Energy from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Six equities research analysts have rated the stock with a hold rating, Bonanza Creek Energy presently has a consensus rating of “Hold” and an average target price of $28.50.

Shares of Bonanza Creek Energy (BCEI) traded down $0.09 during trading on Tuesday, hitting $25.78. 248,501 shares of the stock traded hands, compared to its average volume of 279,910. Bonanza Creek Energy has a 1-year low of $23.33 and a 1-year high of $40.60. The firm has a market cap of $508.07, a price-to-earnings ratio of -0.17 and a beta of 1.91.

In other Bonanza Creek Energy news, major shareholder Whitebox Advisors Llc sold 500,000 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $32.01, for a total value of $16,005,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.57% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the company. AXA acquired a new position in shares of Bonanza Creek Energy during the fourth quarter worth approximately $281,000. Alliancebernstein L.P. lifted its position in shares of Bonanza Creek Energy by 31.2% during the fourth quarter. Alliancebernstein L.P. now owns 26,380 shares of the oil and gas producer’s stock worth $728,000 after purchasing an additional 6,280 shares in the last quarter. Spark Investment Management LLC acquired a new position in shares of Bonanza Creek Energy during the fourth quarter worth approximately $389,000. Royce & Associates LP lifted its position in shares of Bonanza Creek Energy by 38.2% during the fourth quarter. Royce & Associates LP now owns 401,575 shares of the oil and gas producer’s stock worth $11,079,000 after purchasing an additional 111,000 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of Bonanza Creek Energy by 33.2% during the fourth quarter. BlackRock Inc. now owns 1,422,756 shares of the oil and gas producer’s stock worth $39,254,000 after purchasing an additional 354,959 shares in the last quarter. Institutional investors own 91.17% of the company’s stock.

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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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