Bonanza Creek Energy, Inc. (BCEI) Sees Strong Trading Volume
Shares of Bonanza Creek Energy, Inc. (NYSE:BCEI) saw strong trading volume on Wednesday . 293,700 shares were traded during trading, an increase of 48% from the previous session’s volume of 198,589 shares.The stock last traded at $30.66 and had previously closed at $31.42.
A number of analysts have recently commented on the stock. BidaskClub upgraded shares of Bonanza Creek Energy from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 18th. KeyCorp restated a “hold” rating on shares of Bonanza Creek Energy in a report on Monday. Zacks Investment Research cut shares of Bonanza Creek Energy from a “hold” rating to a “sell” rating in a report on Monday, September 11th. Finally, BMO Capital Markets set a $25.00 target price on shares of Bonanza Creek Energy and gave the company a “hold” rating in a report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $31.50.
Bonanza Creek Energy (NYSE:BCEI) last announced its quarterly earnings results on Wednesday, November 8th. The oil and gas producer reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.68. The company had revenue of $45.23 million for the quarter, compared to analysts’ expectations of $45.63 million. Bonanza Creek Energy had a negative net margin of 33.79% and a negative return on equity of 3.17%. analysts predict that Bonanza Creek Energy, Inc. will post 0.37 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in BCEI. Mangrove Partners bought a new position in Bonanza Creek Energy in the 2nd quarter worth about $39,717,000. Apollo Management Holdings L.P. purchased a new position in Bonanza Creek Energy in the 2nd quarter worth about $35,158,000. Lord Abbett & CO. LLC purchased a new position in Bonanza Creek Energy in the 2nd quarter worth about $14,207,000. JPMorgan Chase & Co. purchased a new position in Bonanza Creek Energy in the 2nd quarter worth about $13,980,000. Finally, Wells Fargo & Company MN raised its position in Bonanza Creek Energy by 6,203.4% in the 2nd quarter. Wells Fargo & Company MN now owns 413,500 shares of the oil and gas producer’s stock worth $13,112,000 after buying an additional 406,940 shares during the last quarter. Institutional investors own 91.29% of the company’s stock.
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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