Bonanza Creek Energy, Inc. (NYSE:BCEI) – KeyCorp raised their FY2018 EPS estimates for Bonanza Creek Energy in a report issued on Monday. KeyCorp analyst D. Deckelbaum now anticipates that the oil and gas producer will post earnings per share of $3.77 for the year, up from their prior forecast of $2.13. KeyCorp has a “Hold” rating on the stock.
Bonanza Creek Energy (NYSE:BCEI) last issued its quarterly earnings data on Wednesday, November 8th. The oil and gas producer reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.68. The firm had revenue of $45.23 million for the quarter, compared to analyst estimates of $45.63 million. Bonanza Creek Energy had a negative return on equity of 3.17% and a negative net margin of 33.79%.
BCEI has been the topic of a number of other reports. Zacks Investment Research upgraded Bonanza Creek Energy from a “hold” rating to a “strong-buy” rating and set a $32.00 price objective on the stock in a research report on Tuesday, January 2nd. BidaskClub upgraded Bonanza Creek Energy from a “hold” rating to a “buy” rating in a research report on Friday, November 3rd. BMO Capital Markets set a $25.00 price objective on Bonanza Creek Energy and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Finally, ValuEngine upgraded Bonanza Creek Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Five equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $28.50.
Shares of Bonanza Creek Energy (NYSE:BCEI) traded down $0.28 during mid-day trading on Thursday, hitting $27.40. The stock had a trading volume of 392,816 shares, compared to its average volume of 201,824. The company has a market cap of $566.15, a price-to-earnings ratio of -0.18 and a beta of 1.91. Bonanza Creek Energy has a 12-month low of $23.33 and a 12-month high of $40.60.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BCEI. Mangrove Partners lifted its stake in shares of Bonanza Creek Energy by 35.9% in the 3rd quarter. Mangrove Partners now owns 1,702,500 shares of the oil and gas producer’s stock valued at $56,165,000 after purchasing an additional 450,000 shares during the period. Lord Abbett & CO. LLC purchased a new position in Bonanza Creek Energy during the second quarter valued at $14,207,000. State Street Corp raised its stake in Bonanza Creek Energy by 1,196.6% during the second quarter. State Street Corp now owns 305,716 shares of the oil and gas producer’s stock valued at $9,694,000 after buying an additional 282,137 shares during the last quarter. Divisar Capital Management LLC purchased a new position in Bonanza Creek Energy during the second quarter valued at $7,073,000. Finally, Royce & Associates LP raised its stake in Bonanza Creek Energy by 130.5% during the third quarter. Royce & Associates LP now owns 290,575 shares of the oil and gas producer’s stock valued at $9,586,000 after buying an additional 164,519 shares during the last quarter. Institutional investors own 91.37% of the company’s stock.
In other news, major shareholder Whitebox Advisors Llc sold 500,000 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $32.01, for a total value of $16,005,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.57% 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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