Zacks Investment Research Downgrades Bonanza Creek Energy (BCEI) to Hold

Bonanza Creek Energy (NYSE:BCEI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday, February 13th.

According to Zacks, “Bonanza Creek Energy, Inc. is engaged in the acquisition, exploration and development of onshore oil and natural gas properties in the United States. The Company’s core operating areas are the DJ Basin in Colorado and the Cotton Valley formation in southern Arkansas. Bonanza Creek Energy, Inc. is based in Denver, Colorado. “

Several other brokerages have also recently commented on BCEI. KeyCorp reiterated a “hold” rating on shares of Bonanza Creek Energy in a research report on Monday, November 13th. ValuEngine upgraded shares of Bonanza Creek Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, BidaskClub upgraded shares of Bonanza Creek Energy from a “hold” rating to a “buy” rating in a research report on Friday, November 3rd. Six analysts have rated the stock with a hold rating, Bonanza Creek Energy currently has an average rating of “Hold” and a consensus target price of $28.50.

Shares of Bonanza Creek Energy (NYSE BCEI) opened at $28.42 on Tuesday. The company has a market cap of $579.65, a PE ratio of -0.18 and a beta of 1.91. Bonanza Creek Energy has a twelve month low of $23.33 and a twelve month high of $40.60.

Institutional investors have recently added to or reduced their stakes in the business. Macquarie Group Ltd. purchased a new stake in shares of Bonanza Creek Energy in the third quarter valued at about $451,000. Mangrove Partners raised its holdings in shares of Bonanza Creek Energy by 35.9% in the third 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 last quarter. TIAA CREF Investment Management LLC purchased a new stake in shares of Bonanza Creek Energy in the second quarter valued at about $3,308,000. Q Global Advisors LLC raised its holdings in shares of Bonanza Creek Energy by 6.7% in the third quarter. Q Global Advisors LLC now owns 130,533 shares of the oil and gas producer’s stock valued at $4,306,000 after purchasing an additional 8,142 shares during the last quarter. Finally, Nationwide Fund Advisors purchased a new stake in shares of Bonanza Creek Energy in the second quarter valued at about $366,000. 90.35% of the stock is currently owned by hedge funds and other institutional investors.

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Bonanza Creek Energy Company Profile

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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