Equities analysts expect Bonanza Creek Energy Inc (NYSE:BCEI) to post $64.19 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Bonanza Creek Energy’s earnings, with the highest sales estimate coming in at $65.37 million and the lowest estimate coming in at $63.00 million. Bonanza Creek Energy posted sales of $50.19 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 27.9%. The business is scheduled to report its next earnings results after the market closes on Wednesday, February 27th.
According to Zacks, analysts expect that Bonanza Creek Energy will report full year sales of $268.91 million for the current financial year, with estimates ranging from $262.00 million to $275.82 million. For the next financial year, analysts expect that the company will post sales of $307.30 million, with estimates ranging from $301.59 million to $313.00 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Bonanza Creek Energy.
A number of brokerages recently commented on BCEI. Zacks Investment Research downgraded Bonanza Creek Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 15th. Imperial Capital restated an “outperform” rating and set a $35.00 target price (up previously from $33.00) on shares of Bonanza Creek Energy in a report on Friday, March 1st. Finally, SunTrust Banks began coverage on Bonanza Creek Energy in a report on Friday, December 14th. They set a “hold” rating and a $25.00 target price for the company. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $32.40.
Shares of NYSE:BCEI traded up $0.10 during trading on Monday, reaching $22.32. 121,400 shares of the company traded hands, compared to its average volume of 193,344. The firm has a market cap of $496.34 million, a PE ratio of 5.09 and a beta of 1.61. Bonanza Creek Energy has a 52-week low of $18.41 and a 52-week high of $40.38.
Several institutional investors have recently made changes to their positions in BCEI. BlackRock Inc. raised its holdings in Bonanza Creek Energy by 92.3% in the third quarter. BlackRock Inc. now owns 2,774,826 shares of the oil and gas producer’s stock worth $82,633,000 after purchasing an additional 1,331,837 shares in the last quarter. Texas Permanent School Fund bought a new position in Bonanza Creek Energy in the third quarter worth $350,000. Prudential Financial Inc. raised its holdings in Bonanza Creek Energy by 752.5% in the third quarter. Prudential Financial Inc. now owns 65,390 shares of the oil and gas producer’s stock worth $1,947,000 after purchasing an additional 57,720 shares in the last quarter. Rhumbline Advisers raised its holdings in Bonanza Creek Energy by 137.9% in the third quarter. Rhumbline Advisers now owns 44,913 shares of the oil and gas producer’s stock worth $1,338,000 after purchasing an additional 26,035 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Bonanza Creek Energy by 9.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 414,240 shares of the oil and gas producer’s stock worth $8,562,000 after purchasing an additional 35,509 shares in the last quarter.
Bonanza Creek Energy Company Profile
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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