Bonanza Creek Energy Inc (NYSE:BCEI) saw a significant drop in short interest in August. As of August 31st, there was short interest totalling 2,401,500 shares, a drop of 12.1% from the July 31st total of 2,731,900 shares. Approximately 12.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 199,300 shares, the days-to-cover ratio is presently 12.0 days.
BCEI stock traded down $0.46 during midday trading on Thursday, reaching $23.93. The stock had a trading volume of 59 shares, compared to its average volume of 203,767. The business has a fifty day simple moving average of $22.17 and a two-hundred day simple moving average of $21.89. The company has a quick ratio of 1.02, a current ratio of 1.05 and a debt-to-equity ratio of 0.10. The firm has a market cap of $496.86 million, a price-to-earnings ratio of 5.07 and a beta of 1.48. Bonanza Creek Energy has a twelve month low of $17.64 and a twelve month high of $31.01.
BCEI has been the subject of a number of research reports. Zacks Investment Research lowered Bonanza Creek Energy from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 23rd. KeyCorp started coverage on Bonanza Creek Energy in a research report on Tuesday, September 3rd. They issued an “overweight” rating and a $26.00 price objective for the company. SunTrust Banks set a $24.00 price objective on Bonanza Creek Energy and gave the stock a “hold” rating in a research report on Friday, August 9th. Imperial Capital reiterated an “outperform” rating and issued a $30.00 price objective (up from $28.00) on shares of Bonanza Creek Energy in a research report on Wednesday, July 24th. Finally, Capital One Financial upgraded Bonanza Creek Energy from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Bonanza Creek Energy currently has an average rating of “Hold” and an average price target of $26.75.
In other news, CAO Sandra Garbiso sold 2,813 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $21.99, for a total value of $61,857.87. Following the completion of the sale, the chief accounting officer now directly owns 11,060 shares in the company, valued at $243,209.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Comerica Bank increased its position in Bonanza Creek Energy by 2.5% in the first quarter. Comerica Bank now owns 18,602 shares of the oil and gas producer’s stock worth $432,000 after purchasing an additional 458 shares during the period. Texas Permanent School Fund increased its position in Bonanza Creek Energy by 3.8% in the first quarter. Texas Permanent School Fund now owns 12,703 shares of the oil and gas producer’s stock worth $288,000 after purchasing an additional 469 shares during the period. Virginia Retirement Systems ET AL increased its position in Bonanza Creek Energy by 2.2% in the second quarter. Virginia Retirement Systems ET AL now owns 28,500 shares of the oil and gas producer’s stock worth $595,000 after purchasing an additional 600 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Bonanza Creek Energy by 136.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,239 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 715 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Bonanza Creek Energy by 1.4% during the first quarter. Rhumbline Advisers now owns 55,463 shares of the oil and gas producer’s stock worth $1,258,000 after buying an additional 792 shares during the last quarter.
About Bonanza Creek Energy
Bonanza Creek Energy, Inc, an exploration and production company, focuses on the extraction of onshore oil and related liquids-rich natural gas in the United States. The company's primary oil and liquids-weighted assets are located in the Wattenberg Field in Colorado. As of December 31, 2018, it had proved reserves of 116.8 million barrel of oil equivalent.
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