Wall Street brokerages expect Bonanza Creek Energy Inc (NYSE:BCEI) to announce $1.55 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Bonanza Creek Energy’s earnings, with the highest EPS estimate coming in at $1.90 and the lowest estimate coming in at $0.98. Bonanza Creek Energy reported earnings of $1.30 per share during the same quarter last year, which would indicate a positive year over year growth rate of 19.2%. The firm is expected to announce its next quarterly earnings report on Thursday, November 14th.
According to Zacks, analysts expect that Bonanza Creek Energy will report full-year earnings of $6.28 per share for the current year, with EPS estimates ranging from $5.16 to $6.86. For the next year, analysts expect that the firm will report earnings of $6.60 per share, with EPS estimates ranging from $4.23 to $8.49. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Bonanza Creek Energy.
BCEI has been the subject of a number of research reports. Zacks Investment Research lowered shares of Bonanza Creek Energy from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 23rd. SunTrust Banks set a $24.00 target price on shares of Bonanza Creek Energy and gave the stock a “hold” rating in a research report on Friday, August 9th. Imperial Capital reiterated an “outperform” rating and set a $30.00 target price (up previously from $28.00) on shares of Bonanza Creek Energy in a research report on Wednesday, July 24th. Finally, Capital One Financial upgraded shares of Bonanza Creek Energy from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $27.00.
In other news, CAO Sandra Garbiso sold 2,813 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $21.99, for a total value of $61,857.87. Following the sale, the chief accounting officer now directly owns 11,060 shares of the company’s stock, valued at $243,209.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.60% of the company’s stock.
Several institutional investors have recently made changes to their positions in BCEI. Nuveen Asset Management LLC purchased a new stake in shares of Bonanza Creek Energy in the second quarter worth about $9,266,000. Cooper Creek Partners Management LLC purchased a new stake in shares of Bonanza Creek Energy in the first quarter worth about $6,721,000. Vanguard Group Inc. lifted its holdings in shares of Bonanza Creek Energy by 22.8% in the second quarter. Vanguard Group Inc. now owns 1,228,098 shares of the oil and gas producer’s stock worth $25,643,000 after buying an additional 228,314 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Bonanza Creek Energy by 12.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,476,187 shares of the oil and gas producer’s stock worth $30,513,000 after buying an additional 159,783 shares in the last quarter. Finally, Intrepid Capital Management Inc. lifted its holdings in shares of Bonanza Creek Energy by 160.8% in the second quarter. Intrepid Capital Management Inc. now owns 230,967 shares of the oil and gas producer’s stock worth $4,823,000 after buying an additional 142,405 shares in the last quarter.
About Bonanza Creek Energy
Bonanza Creek Energy, Inc, an exploration and production company, focuses on the extraction of onshore oil and related liquids-rich natural gas in the United States. The company's primary oil and liquids-weighted assets are located in the Wattenberg Field in Colorado. As of December 31, 2018, it had proved reserves of 116.8 million barrel of oil equivalent.
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