Q1 2018 Earnings Estimate for Bonanza Creek Energy, Inc. (BCEI) Issued By KeyCorp
Bonanza Creek Energy, Inc. (NYSE:BCEI) – Investment analysts at KeyCorp upped their Q1 2018 EPS estimates for Bonanza Creek Energy in a note issued to investors on Tuesday. KeyCorp analyst D. Deckelbaum now expects that the oil and gas producer will earn $0.52 per share for the quarter, up from their prior forecast of $0.32. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Bonanza Creek Energy’s Q2 2018 earnings at $0.54 EPS, Q3 2018 earnings at $0.55 EPS and FY2018 earnings at $2.22 EPS.
Several other research firms have also recently commented on BCEI. BidaskClub cut Bonanza Creek Energy from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Zacks Investment Research upgraded Bonanza Creek Energy from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Tuesday, November 28th. Finally, BMO Capital Markets restated a “hold” rating and set a $25.00 price objective on shares of Bonanza Creek Energy in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $28.00.
Bonanza Creek Energy (NYSE BCEI) traded up $0.15 during trading on Friday, hitting $30.00. The stock had a trading volume of 125,400 shares, compared to its average volume of 259,321. Bonanza Creek Energy has a 12 month low of $23.33 and a 12 month high of $40.60.
Bonanza Creek Energy (NYSE:BCEI) last released its earnings results on Wednesday, November 8th. The oil and gas producer reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.68. The company had revenue of $45.23 million during the quarter, compared to analysts’ expectations of $45.63 million. Bonanza Creek Energy had a negative return on equity of 3.17% and a negative net margin of 33.79%.
In related news, major shareholder Whitebox Advisors Llc sold 300,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $31.59, for a total transaction of $9,477,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.57% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in BCEI. Scoggin Management LP acquired a new stake in Bonanza Creek Energy in the third quarter worth $412,000. Cubist Systematic Strategies LLC acquired a new stake in Bonanza Creek Energy in the third quarter worth $553,000. Gen IV Investment Opportunities LLC increased its position in Bonanza Creek Energy by 4.1% in the third quarter. Gen IV Investment Opportunities LLC now owns 1,049,952 shares of the oil and gas producer’s stock worth $34,638,000 after buying an additional 41,593 shares during the period. Highbridge Capital Management LLC increased its position in Bonanza Creek Energy by 239.4% in the third quarter. Highbridge Capital Management LLC now owns 208,000 shares of the oil and gas producer’s stock worth $6,862,000 after buying an additional 146,724 shares during the period. Finally, Mangrove Partners increased its position in Bonanza Creek Energy by 35.9% in the third quarter. Mangrove Partners now owns 1,702,500 shares of the oil and gas producer’s stock worth $56,165,000 after buying an additional 450,000 shares during the period. Hedge funds and other institutional investors own 91.25% 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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