Bonanza Creek Energy (NYSE:BCEI) Trading Up 5.6%

Bonanza Creek Energy Inc (NYSE:BCEI)’s stock price was up 5.6% on Wednesday . The stock traded as high as $20.90 and last traded at $20.39. Approximately 243,608 shares traded hands during trading, a decline of 13% from the average daily volume of 279,865 shares. The stock had previously closed at $19.31.

Several brokerages have recently commented on BCEI. ValuEngine upgraded Bonanza Creek Energy from a “sell” rating to a “hold” rating in a research note on Monday, August 17th. SunTrust Banks upped their target price on Bonanza Creek Energy from $13.00 to $16.00 and gave the company a “hold” rating in a research report on Thursday, July 30th. Zacks Investment Research cut Bonanza Creek Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Seaport Global Securities started coverage on Bonanza Creek Energy in a report on Monday, July 27th. They set a “buy” rating and a $25.00 price target for the company. Finally, KeyCorp increased their price target on Bonanza Creek Energy from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Bonanza Creek Energy has an average rating of “Buy” and an average price target of $23.50.

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.74 and a quick ratio of 1.61. The company has a 50 day moving average of $19.58 and a 200-day moving average of $16.58. The company has a market cap of $424.81 million, a P/E ratio of 5.80 and a beta of 2.36.

Bonanza Creek Energy (NYSE:BCEI) last released its quarterly earnings data on Thursday, August 6th. The oil and gas producer reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.31. Bonanza Creek Energy had a return on equity of 7.51% and a net margin of 28.91%. The firm had revenue of $36.19 million for the quarter, compared to the consensus estimate of $48.82 million. Research analysts anticipate that Bonanza Creek Energy Inc will post -1.53 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC boosted its position in shares of Bonanza Creek Energy by 18.9% in the 2nd quarter. FMR LLC now owns 2,985,157 shares of the oil and gas producer’s stock worth $44,240,000 after purchasing an additional 474,678 shares in the last quarter. Vanguard Group Inc. lifted its position in Bonanza Creek Energy by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,343,778 shares of the oil and gas producer’s stock valued at $19,914,000 after acquiring an additional 36,122 shares in the last quarter. Donald Smith & CO. Inc. lifted its position in Bonanza Creek Energy by 34.4% in the 1st quarter. Donald Smith & CO. Inc. now owns 1,052,882 shares of the oil and gas producer’s stock valued at $11,845,000 after acquiring an additional 269,250 shares in the last quarter. State Street Corp lifted its position in Bonanza Creek Energy by 19.8% in the 1st quarter. State Street Corp now owns 984,389 shares of the oil and gas producer’s stock valued at $11,074,000 after acquiring an additional 162,486 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in Bonanza Creek Energy by 225.1% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 269,267 shares of the oil and gas producer’s stock valued at $3,991,000 after acquiring an additional 186,443 shares in the last quarter.

About Bonanza Creek Energy (NYSE:BCEI)

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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