Zacks Investment Research upgraded shares of Bonanza Creek Energy, Inc. (NYSE:BCEI) from a hold rating to a buy rating in a research note issued to investors on Tuesday, July 4th. They currently have $36.00 price target on the oil and gas producer’s stock.

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 weighed in on BCEI. BMO Capital Markets reissued a hold rating and issued a $1.00 price objective on shares of Bonanza Creek Energy in a report on Wednesday, March 22nd. ValuEngine lowered Bonanza Creek Energy from a sell rating to a strong sell rating in a report on Friday, June 2nd. Finally, Capital One Financial Corporation reissued an equal weight rating on shares of Bonanza Creek Energy in a report on Tuesday, May 2nd. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Bonanza Creek Energy has an average rating of Hold and an average price target of $30.50.

Shares of Bonanza Creek Energy (NYSE BCEI) traded up 0.42% during midday trading on Tuesday, hitting $28.50. 71,128 shares of the stock were exchanged. The firm’s market capitalization is $579.86 million. Bonanza Creek Energy has a 1-year low of $25.76 and a 1-year high of $40.60. The stock’s 50-day moving average price is $29.48 and its 200-day moving average price is $108.02.

Bonanza Creek Energy (NYSE:BCEI) last announced its quarterly earnings data on Wednesday, May 10th. The oil and gas producer reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.22) by $0.02. Bonanza Creek Energy had a negative return on equity of 192.23% and a negative net margin of 120.77%. The firm had revenue of $52.56 million during the quarter. On average, analysts forecast that Bonanza Creek Energy will post ($0.30) EPS for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the company. Scepter Holdings Inc. bought a new position in shares of Bonanza Creek Energy during the first quarter valued at approximately $117,000. Legal & General Group Plc bought a new position in shares of Bonanza Creek Energy during the second quarter valued at approximately $156,000. Strs Ohio bought a new position in shares of Bonanza Creek Energy during the second quarter valued at approximately $199,000. KBC Group NV increased its position in shares of Bonanza Creek Energy by 73.9% in the first quarter. KBC Group NV now owns 500,608 shares of the oil and gas producer’s stock valued at $581,000 after buying an additional 212,675 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new position in shares of Bonanza Creek Energy during the first quarter valued at approximately $634,000.

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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