Bonanza Creek Energy (NYSE:BCEI) Raised to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Bonanza Creek Energy (NYSE:BCEI) from a sell rating to a hold rating in a report published on Tuesday morning, Zacks.com reports.

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. “

BCEI has been the topic of several other research reports. KeyCorp began coverage on shares of Bonanza Creek Energy in a research report on Tuesday, September 3rd. They issued an overweight rating and a $26.00 price target on the stock. SunTrust Banks set a $24.00 price target on shares of Bonanza Creek Energy and gave the company a hold rating in a research report on Friday, August 9th. Imperial Capital reissued an outperform rating and issued a $30.00 price target (up previously from $28.00) on shares of Bonanza Creek Energy in a research report on Wednesday, July 24th. Finally, Capital One Financial raised shares of Bonanza Creek Energy from an equal weight rating to an overweight rating in a research report on Thursday, May 23rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Bonanza Creek Energy presently has an average rating of Buy and a consensus price target of $26.75.

NYSE BCEI opened at $23.89 on Tuesday. The company’s 50 day moving average is $22.51 and its 200-day moving average is $21.93. Bonanza Creek Energy has a 12-month low of $17.64 and a 12-month high of $31.01. The company has a quick ratio of 1.02, a current ratio of 1.05 and a debt-to-equity ratio of 0.10. The firm has a market cap of $528.23 million, a P/E ratio of 5.39 and a beta of 1.48.

In related news, CAO Sandra Garbiso sold 2,813 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $21.99, for a total transaction of $61,857.87. Following the sale, the chief accounting officer now owns 11,060 shares of the company’s stock, valued at approximately $243,209.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

A number of institutional investors have recently bought and sold shares of BCEI. Dimensional Fund Advisors LP increased its holdings in Bonanza Creek Energy by 12.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,476,187 shares of the oil and gas producer’s stock worth $30,513,000 after acquiring an additional 159,783 shares during the period. BNP Paribas Arbitrage SA increased its holdings in Bonanza Creek Energy by 48,962.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,925 shares of the oil and gas producer’s stock worth $89,000 after acquiring an additional 3,917 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Bonanza Creek Energy by 136.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,239 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 715 shares during the period. SG Americas Securities LLC bought a new stake in Bonanza Creek Energy during the 1st quarter worth approximately $205,000. Finally, Rhumbline Advisers increased its holdings in Bonanza Creek Energy by 1.4% during the 1st quarter. Rhumbline Advisers now owns 55,463 shares of the oil and gas producer’s stock worth $1,258,000 after acquiring an additional 792 shares during the period.

Bonanza Creek Energy Company Profile

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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