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

Zacks Investment Research downgraded shares of Bonanza Creek Energy (NYSE:BCEI) from a strong-buy rating to a hold rating in a research report sent to investors 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. “

Several other brokerages have also commented on BCEI. Truist Securities raised shares of Bonanza Creek Energy from a hold rating to a buy rating and boosted their price target for the stock from $30.00 to $40.00 in a report on Wednesday, April 21st. KeyCorp boosted their price target on shares of Bonanza Creek Energy from $40.00 to $46.00 and gave the stock an overweight rating in a report on Tuesday, April 13th. Finally, Truist boosted their price target on shares of Bonanza Creek Energy from $45.00 to $54.00 in a report on Wednesday, May 12th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $37.71.

BCEI opened at $48.36 on Tuesday. The company has a fifty day moving average price of $38.50. Bonanza Creek Energy has a 1 year low of $14.02 and a 1 year high of $48.57. The firm has a market cap of $1.01 billion, a PE ratio of 41.33 and a beta of 2.01.

Bonanza Creek Energy (NYSE:BCEI) last posted its earnings results on Sunday, May 2nd. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.13. Bonanza Creek Energy had a net margin of 10.72% and a return on equity of 2.45%. As a group, sell-side analysts forecast that Bonanza Creek Energy will post 5.38 earnings per share for the current 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 dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Monday, June 14th.

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

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

About Bonanza Creek Energy

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.

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