Bonanza Creek Energy Inc. (NYSE:BCEI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.

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. “

A number of other research firms have also commented on BCEI. Stifel Nicolaus raised shares of Bonanza Creek Energy from a “sell” rating to a “hold” rating in a research note on Thursday, September 29th. SunTrust Banks Inc. lowered shares of Bonanza Creek Energy from a “neutral” rating to a “reduce” rating in a research note on Wednesday, July 27th. JPMorgan Chase & Co. lowered shares of Bonanza Creek Energy from a “neutral” rating to an “underweight” rating in a research note on Tuesday, August 2nd. Finally, Wunderlich lowered shares of Bonanza Creek Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, August 2nd. Eight research analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the stock. Bonanza Creek Energy currently has an average rating of “Hold” and a consensus target price of $4.91.

Analyst Recommendations for Bonanza Creek Energy (NYSE:BCEI)

Shares of Bonanza Creek Energy (NYSE:BCEI) traded up 1.00% during midday trading on Friday, reaching $1.01. 610,821 shares of the company’s stock traded hands. The firm’s market cap is $50.22 million. The company has a 50 day moving average of $1.00 and a 200 day moving average of $1.58. Bonanza Creek Energy has a 52-week low of $0.60 and a 52-week high of $8.96.

Bonanza Creek Energy (NYSE:BCEI) last posted its quarterly earnings data on Wednesday, November 9th. The company reported ($0.35) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.07. Bonanza Creek Energy had a negative net margin of 343.94% and a negative return on equity of 55.38%. The firm earned $49.30 million during the quarter, compared to the consensus estimate of $50.92 million. During the same period in the prior year, the company posted ($0.07) earnings per share. The company’s revenue for the quarter was down 31.6% compared to the same quarter last year. On average, equities analysts predict that Bonanza Creek Energy will post ($1.36) EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the stock. California Public Employees Retirement System raised its position in Bonanza Creek Energy by 23.2% in the second quarter. California Public Employees Retirement System now owns 301,000 shares of the company’s stock worth $605,000 after buying an additional 56,700 shares during the period. LMR Partners LLP purchased a new position in Bonanza Creek Energy during the second quarter worth approximately $104,000. A.R.T. Advisors LLC raised its position in Bonanza Creek Energy by 5,247.1% in the first quarter. A.R.T. Advisors LLC now owns 918,688 shares of the company’s stock worth $1,460,000 after buying an additional 901,507 shares during the period. Airain ltd purchased a new position in Bonanza Creek Energy during the second quarter worth approximately $348,000. Finally, Bank of New York Mellon Corp raised its position in Bonanza Creek Energy by 26.6% in the third quarter. Bank of New York Mellon Corp now owns 1,642,050 shares of the company’s stock worth $1,675,000 after buying an additional 344,712 shares during the period. Institutional investors own 71.30% of the company’s stock.

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.

5 Day Chart for NYSE:BCEI

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