Zacks Investment Research lowered shares of Bonanza Creek Energy, Inc. (NYSE:BCEI) from a hold rating to a sell rating in a research report sent to investors on Monday morning.

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. “

Other research analysts also recently issued reports about the stock. BMO Capital Markets reissued a hold rating and set a $35.00 price target on shares of Bonanza Creek Energy in a research note on Monday, May 15th. BidaskClub raised shares of Bonanza Creek Energy from a sell rating to a hold rating in a research note on Saturday, September 2nd. ValuEngine downgraded shares of Bonanza Creek Energy from a sell rating to a strong sell rating in a research note on Friday, June 2nd. Finally, KeyCorp reissued a hold rating on shares of Bonanza Creek Energy in a research note on Wednesday, September 6th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The company currently has an average rating of Hold and a consensus price target of $30.50.

Shares of Bonanza Creek Energy (NYSE:BCEI) opened at 29.48 on Monday. The firm’s 50-day moving average is $27.31 and its 200-day moving average is $60.47. Bonanza Creek Energy has a 12-month low of $23.33 and a 12-month high of $40.60. The company’s market capitalization is $602.25 million.

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Several hedge funds have recently bought and sold shares of the business. Lord Abbett & CO. LLC purchased a new position in shares of Bonanza Creek Energy during the second quarter worth approximately $14,207,000. Westwood Holdings Group Inc. purchased a new position in shares of Bonanza Creek Energy during the second quarter worth approximately $181,000. California State Teachers Retirement System purchased a new position in shares of Bonanza Creek Energy during the second quarter worth approximately $1,142,000. The Manufacturers Life Insurance Company raised its stake in shares of Bonanza Creek Energy by 925.5% during the second quarter. The Manufacturers Life Insurance Company now owns 15,792 shares of the oil and gas producer’s stock worth $501,000 after acquiring an additional 14,252 shares in the last quarter. Finally, Q Global Advisors LLC purchased a new position in shares of Bonanza Creek Energy during the second quarter worth approximately $3,881,000. 91.04% of the stock is currently owned by hedge funds and other institutional investors.

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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