Trade Report: The Zacks Investment Research lowers the Stock rating of Bonanza Creek Energy Inc. (BCEI)

The Zacks Investment Research lowers the Stock rating of Bonanza Creek Energy Inc. (BCEI)

Bonanza Creek Energy Inc. (NYSE:BCEI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” 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. “

BCEI has been the subject of a number of other research reports. JPMorgan Chase & Co. downgraded shares of Bonanza Creek Energy from a “neutral” rating to an “underweight” rating in a research note on Tuesday, August 2nd. Stifel Nicolaus raised shares of Bonanza Creek Energy from a “sell” rating to a “hold” rating in a research note on Thursday, September 29th. Deutsche Bank AG reduced their price objective on shares of Bonanza Creek Energy from $4.00 to $3.50 and set a “hold” rating for the company in a research note on Tuesday, June 14th. SunTrust Banks Inc. downgraded shares of Bonanza Creek Energy from a “neutral” rating to a “reduce” rating in a research note on Wednesday, July 27th. Finally, Wunderlich downgraded shares of Bonanza Creek Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, August 2nd. Nine analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. The stock presently has an average rating of “Hold” and an average price target of $6.82.

Bonanza Creek Energy (NYSE:BCEI) opened at 1.10 on Tuesday. Bonanza Creek Energy has a 52-week low of $0.60 and a 52-week high of $9.54. The company’s 50-day moving average price is $1.06 and its 200 day moving average price is $1.84. The stock’s market capitalization is $54.70 million.

Bonanza Creek Energy (NYSE:BCEI) last posted its quarterly earnings results on Monday, August 1st. The company reported ($0.40) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by $0.12. Bonanza Creek Energy had a negative net margin of 343.45% and a negative return on equity of 20.86%. Equities analysts forecast that Bonanza Creek Energy will post ($1.38) EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. raised its position in Bonanza Creek Energy by 1.0% in the second quarter. Prudential Financial Inc. now owns 94,320 shares of the company’s stock valued at $190,000 after buying an additional 950 shares in the last quarter. Geode Capital Management LLC raised its position in Bonanza Creek Energy by 1.3% in the first quarter. Geode Capital Management LLC now owns 246,548 shares of the company’s stock valued at $392,000 after buying an additional 3,281 shares in the last quarter. Principal Financial Group Inc. raised its position in Bonanza Creek Energy by 2.5% in the second quarter. Principal Financial Group Inc. now owns 286,330 shares of the company’s stock valued at $576,000 after buying an additional 6,994 shares in the last quarter. LMR Partners LLP purchased a new position in Bonanza Creek Energy during the second quarter valued at about $104,000. Finally, 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 valued at $605,000 after buying an additional 56,700 shares in the last quarter. 72.83% of the stock is currently owned by institutional investors and hedge funds.

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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