Bonanza Creek Energy (NYSE:BCEI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

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 research analysts have also recently weighed in on the stock. BidaskClub cut shares of Bonanza Creek Energy from a “buy” rating to a “hold” rating in a report on Friday, November 10th. BMO Capital Markets set a $25.00 price objective on shares of Bonanza Creek Energy and gave the company a “hold” rating in a report on Tuesday, October 10th. ValuEngine raised shares of Bonanza Creek Energy from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. Finally, KeyCorp reissued a “hold” rating on shares of Bonanza Creek Energy in a report on Monday, November 13th. Six investment analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average target price of $28.50.

Shares of Bonanza Creek Energy (BCEI) traded up $0.13 during midday trading on Tuesday, reaching $28.19. 301,900 shares of the company were exchanged, compared to its average volume of 376,680. Bonanza Creek Energy has a one year low of $23.33 and a one year high of $40.60. The stock has a market cap of $576.59 and a PE ratio of -0.06.

Bonanza Creek Energy (NYSE:BCEI) last issued its earnings results on Wednesday, November 8th. The oil and gas producer reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.68. The business had revenue of $45.23 million during the quarter, compared to analysts’ expectations of $45.63 million. Bonanza Creek Energy had a negative net margin of 33.79% and a negative return on equity of 3.17%. analysts expect that Bonanza Creek Energy will post 0.49 EPS for the current year.

In related news, major shareholder Whitebox Advisors Llc sold 500,000 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $32.01, for a total transaction of $16,005,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.57% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc purchased a new position in shares of Bonanza Creek Energy in the second quarter worth $156,000. Westwood Holdings Group Inc. purchased a new position in shares of Bonanza Creek Energy in the second quarter worth $181,000. Voya Investment Management LLC purchased a new position in shares of Bonanza Creek Energy in the second quarter worth $304,000. Nationwide Fund Advisors purchased a new position in shares of Bonanza Creek Energy in the second quarter worth $366,000. Finally, American Century Companies Inc. purchased a new position in shares of Bonanza Creek Energy in the second quarter worth $396,000. Institutional investors and hedge funds own 91.25% of the company’s stock.

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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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