Zacks Investment Research upgraded shares of Bonanza Creek Energy (NYSE:BCEI) from a hold rating to a buy rating in a research note published on Tuesday morning. Zacks Investment Research currently has $31.00 price objective 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 recently issued reports on BCEI. BidaskClub upgraded Bonanza Creek Energy from a buy rating to a strong-buy rating in a research note on Wednesday, October 18th. BMO Capital Markets set a $25.00 price objective on Bonanza Creek Energy and gave the company a hold rating in a research note on Tuesday, October 10th. Finally, KeyCorp restated a hold rating on shares of Bonanza Creek Energy in a research note on Monday, November 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $28.00.

Shares of Bonanza Creek Energy (NYSE BCEI) opened at $27.79 on Tuesday. Bonanza Creek Energy has a 52 week low of $23.33 and a 52 week high of $40.60.

Bonanza Creek Energy (NYSE:BCEI) last announced its quarterly earnings data on Wednesday, November 8th. The oil and gas producer reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.68. The business had revenue of $45.23 million for 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%. research analysts expect that Bonanza Creek Energy will post 0.37 EPS for the current fiscal year.

In other Bonanza Creek Energy 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 value of $9,477,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.57% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the business. Scoggin Management LP purchased a new position in shares of Bonanza Creek Energy during the third quarter worth about $412,000. Cubist Systematic Strategies LLC purchased a new position in shares of Bonanza Creek Energy during the third quarter worth about $553,000. Gen IV Investment Opportunities LLC grew its holdings in shares of Bonanza Creek Energy by 4.1% during 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 purchasing an additional 41,593 shares during the last quarter. Highbridge Capital Management LLC grew its holdings in shares of Bonanza Creek Energy by 239.4% during 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 purchasing an additional 146,724 shares during the last quarter. Finally, Mangrove Partners grew its holdings in shares of Bonanza Creek Energy by 35.9% during the third quarter. Mangrove Partners now owns 1,702,500 shares of the oil and gas producer’s stock worth $56,165,000 after purchasing an additional 450,000 shares during the last quarter. 90.95% of the stock is currently owned by institutional investors.

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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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