Bonanza Creek Energy (NYSE:BCEI) Given New $52.00 Price Target at KeyCorp

Bonanza Creek Energy (NYSE:BCEI) had its price objective raised by KeyCorp from $50.00 to $52.00 in a research note published on Thursday morning, PriceTargets.com reports. The brokerage currently has an overweight rating on the oil and gas producer’s stock. KeyCorp also issued estimates for Bonanza Creek Energy’s Q3 2021 earnings at $1.46 EPS, Q4 2021 earnings at $1.76 EPS, FY2021 earnings at $5.32 EPS, Q1 2022 earnings at $1.96 EPS, Q2 2022 earnings at $1.73 EPS, Q3 2022 earnings at $1.78 EPS, Q4 2022 earnings at $1.97 EPS and FY2022 earnings at $7.46 EPS.

BCEI has been the subject of a number of other reports. Truist increased their price target on Bonanza Creek Energy from $45.00 to $54.00 in a research note on Wednesday, May 12th. Zacks Investment Research lowered Bonanza Creek Energy from a strong-buy rating to a hold rating in a research note on Tuesday. Finally, Truist Securities raised Bonanza Creek Energy from a hold rating to a buy rating and raised their price objective for the stock from $30.00 to $40.00 in a research note on Wednesday, April 21st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $37.71.

Shares of NYSE BCEI opened at $48.36 on Thursday. The firm’s fifty day moving average price is $38.50. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 41.33 and a beta of 2.01. Bonanza Creek Energy has a 1 year low of $14.02 and a 1 year high of $48.57.

Bonanza Creek Energy (NYSE:BCEI) last issued its quarterly earnings results on Sunday, May 2nd. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.13. Bonanza Creek Energy had a return on equity of 2.45% and a net margin of 10.72%. Equities research analysts forecast that Bonanza Creek Energy will post 5.38 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Tuesday, June 15th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, June 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.89%.

In other news, CFO Brant Demuth sold 3,315 shares of the stock in a transaction on Wednesday, May 12th. The stock was sold at an average price of $41.01, for a total value of $135,948.15. Following the completion of the sale, the chief financial officer now owns 44,884 shares in the company, valued at $1,840,692.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. HighTower Advisors LLC purchased a new stake in shares of Bonanza Creek Energy during the first quarter worth $1,403,000. Denali Advisors LLC raised its holdings in shares of Bonanza Creek Energy by 40.9% during the first quarter. Denali Advisors LLC now owns 142,892 shares of the oil and gas producer’s stock worth $5,106,000 after acquiring an additional 41,458 shares in the last quarter. Knights of Columbus Asset Advisors LLC raised its holdings in shares of Bonanza Creek Energy by 25.0% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 74,752 shares of the oil and gas producer’s stock worth $1,445,000 after acquiring an additional 14,962 shares in the last quarter. Foundry Partners LLC raised its holdings in shares of Bonanza Creek Energy by 2.6% during the fourth quarter. Foundry Partners LLC now owns 164,665 shares of the oil and gas producer’s stock worth $3,183,000 after acquiring an additional 4,170 shares in the last quarter. Finally, EAM Global Investors LLC purchased a new stake in shares of Bonanza Creek Energy during the first quarter worth $3,020,000.

Bonanza Creek Energy Company Profile

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.

Further Reading: Does the Step Transaction Doctrine Affect a Backdoor Roth IRA?

Analyst Recommendations for Bonanza Creek Energy (NYSE:BCEI)

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 MarketBeat.com's FREE daily email newsletter.