Bonanza Creek Energy (NYSE:BCEI) Trading Up 2.5% Following Analyst Upgrade

Share on StockTwits

Bonanza Creek Energy, Inc. (NYSE:BCEI) shot up 2.5% during mid-day trading on Wednesday after KeyCorp raised their price target on the stock from $39.00 to $40.00. KeyCorp currently has an overweight rating on the stock. Bonanza Creek Energy traded as high as $34.98 and last traded at $34.98. 600 shares were traded during mid-day trading, a decline of 100% from the average session volume of 364,057 shares. The stock had previously closed at $34.13.

Separately, Zacks Investment Research downgraded Bonanza Creek Energy from a “buy” rating to a “sell” rating in a research note on Wednesday, March 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $27.63.

Institutional investors and hedge funds have recently modified their holdings of the company. US Bancorp DE lifted its holdings in Bonanza Creek Energy by 58.4% in the third quarter. US Bancorp DE now owns 1,649 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 608 shares during the period. Strs Ohio purchased a new position in shares of Bonanza Creek Energy during the 4th quarter valued at approximately $90,000. Pacer Advisors Inc. purchased a new stake in Bonanza Creek Energy during the fourth quarter worth $128,000. UBS Asset Management Americas Inc. acquired a new position in shares of Bonanza Creek Energy in the third quarter worth about $197,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Bonanza Creek Energy in the 3rd quarter worth about $199,000.

The company has a current ratio of 1.26, a quick ratio of 1.14 and a debt-to-equity ratio of 0.02. The firm’s fifty day moving average is $33.63 and its 200 day moving average is $24.49. The company has a market cap of $724.99 million, a PE ratio of 17.84 and a beta of 1.99.

Bonanza Creek Energy (NYSE:BCEI) last announced its earnings results on Thursday, February 18th. The oil and gas producer reported $3.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $3.02. Bonanza Creek Energy had a net margin of 17.03% and a return on equity of 4.09%. The business had revenue of $62.64 million for the quarter, compared to analyst estimates of $66.38 million. As a group, sell-side analysts anticipate that Bonanza Creek Energy, Inc. will post -1.88 EPS for the current fiscal year.

About Bonanza Creek Energy (NYSE:BCEI)

Bonanza Creek Energy, Inc, an oil and natural gas company, engages in the acquisition, exploration, development, and production of oil and related liquids-rich natural gas in the United States. Its primary oil and liquids-weighted assets are located in the Wattenberg Field in Colorado. As of December 31, 2020, the company had proved reserves of 118.2 million barrel of oil equivalent.

Featured Article: Initial Coin Offerings entail a high degree of risk

Receive News & Ratings for Bonanza Creek Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bonanza Creek Energy and related companies with's FREE daily email newsletter.