Bonanza Creek Energy (NYSE:BCEI) Cut to “Sell” at Zacks Investment Research

Bonanza Creek Energy (NYSE:BCEI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, Zacks.com reports.

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 reports. Imperial Capital reaffirmed an “outperform” rating and set a $30.00 price objective (up from $28.00) on shares of Bonanza Creek Energy in a research note on Wednesday, July 24th. KeyCorp started coverage on Bonanza Creek Energy in a research report on Tuesday, September 3rd. They set an “overweight” rating and a $26.00 target price for the company. Finally, SunTrust Banks set a $24.00 target price on Bonanza Creek Energy and gave the stock a “hold” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $26.75.



Shares of NYSE:BCEI traded down $0.61 during trading on Tuesday, hitting $23.89. 212,400 shares of the company’s stock were exchanged, compared to its average volume of 206,532. The firm has a 50-day moving average price of $22.76 and a two-hundred day moving average price of $21.95. The company has a quick ratio of 1.02, a current ratio of 1.05 and a debt-to-equity ratio of 0.10. Bonanza Creek Energy has a 1-year low of $17.64 and a 1-year high of $31.01.

In related news, CAO Sandra Garbiso sold 2,813 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $21.99, for a total transaction of $61,857.87. Following the completion of the transaction, the chief accounting officer now owns 11,060 shares in the company, valued at $243,209.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of BCEI. BlackRock Inc. lifted its stake in Bonanza Creek Energy by 1.3% in the second quarter. BlackRock Inc. now owns 2,862,371 shares of the oil and gas producer’s stock valued at $59,766,000 after acquiring an additional 38,108 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Bonanza Creek Energy by 12.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,476,187 shares of the oil and gas producer’s stock valued at $30,513,000 after purchasing an additional 159,783 shares during the last quarter. Vanguard Group Inc. lifted its stake in Bonanza Creek Energy by 22.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,228,098 shares of the oil and gas producer’s stock valued at $25,643,000 after purchasing an additional 228,314 shares during the last quarter. Par Capital Management Inc. lifted its stake in Bonanza Creek Energy by 10.7% in the 2nd quarter. Par Capital Management Inc. now owns 945,014 shares of the oil and gas producer’s stock valued at $19,732,000 after purchasing an additional 91,446 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Bonanza Creek Energy by 1.6% in the 2nd quarter. Morgan Stanley now owns 654,881 shares of the oil and gas producer’s stock valued at $13,673,000 after purchasing an additional 10,299 shares during the last quarter.

Bonanza Creek Energy Company Profile

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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