Bonanza Creek Energy (BCEI) Shares Down 0.7% on Analyst Downgrade

Shares of Bonanza Creek Energy Inc (NYSE:BCEI) dropped 0.7% on Friday after Telsey Advisory Group lowered their price target on the stock from $53.00 to $50.00. Telsey Advisory Group currently has an outperform rating on the stock. Bonanza Creek Energy traded as low as $31.97 and last traded at $33.21. Approximately 11,180 shares traded hands during trading, a decline of 98% from the average daily volume of 699,090 shares. The stock had previously closed at $33.43.

BCEI has been the topic of several other research reports. ValuEngine upgraded shares of Bonanza Creek Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, June 26th. Imperial Capital initiated coverage on shares of Bonanza Creek Energy in a research report on Thursday, April 26th. They set an “outperform” rating and a $37.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Bonanza Creek Energy from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective on the stock in a research report on Monday, May 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $40.75.

A number of large investors have recently modified their holdings of BCEI. Millennium Management LLC raised its position in Bonanza Creek Energy by 241.9% in the 1st quarter. Millennium Management LLC now owns 1,369,924 shares of the oil and gas producer’s stock worth $37,961,000 after purchasing an additional 969,239 shares during the period. Dimensional Fund Advisors LP raised its position in Bonanza Creek Energy by 76.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,045,164 shares of the oil and gas producer’s stock worth $39,580,000 after purchasing an additional 454,390 shares during the period. Bank of New York Mellon Corp raised its position in Bonanza Creek Energy by 304.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 380,283 shares of the oil and gas producer’s stock worth $14,401,000 after purchasing an additional 286,346 shares during the period. Oaktree Capital Management LP purchased a new position in Bonanza Creek Energy in the 1st quarter worth $6,642,000. Finally, Citigroup Inc. raised its position in Bonanza Creek Energy by 2,269.5% in the 1st quarter. Citigroup Inc. now owns 189,039 shares of the oil and gas producer’s stock worth $5,238,000 after purchasing an additional 181,061 shares during the period.

The stock has a market capitalization of $760.43 million, a P/E ratio of 15.39 and a beta of 1.57. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 0.02.

Bonanza Creek Energy (NYSE:BCEI) last issued its earnings results on Wednesday, August 8th. The oil and gas producer reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.16). The business had revenue of $71.87 million during the quarter, compared to analysts’ expectations of $70.66 million. Bonanza Creek Energy had a return on equity of 7.13% and a net margin of 51.92%. analysts expect that Bonanza Creek Energy Inc will post 5.52 earnings per share for the current year.

About Bonanza Creek Energy

Bonanza Creek Energy, Inc engages in the exploration, development, and production of onshore oil and related liquids-rich natural gas in the United States. The company's oil and liquids-weighted assets are located primarily in the Wattenberg Field in Colorado; and the Dorcheat Macedonia Field in southern Arkansas.

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