KeyCorp Comments on Bonanza Creek Energy Inc’s Q3 2019 Earnings (NYSE:BCEI)

Bonanza Creek Energy Inc (NYSE:BCEI) – Equities research analysts at KeyCorp cut their Q3 2019 earnings per share (EPS) estimates for Bonanza Creek Energy in a report released on Monday, October 14th. KeyCorp analyst L. Mariani now forecasts that the oil and gas producer will earn $1.54 per share for the quarter, down from their prior forecast of $1.72. KeyCorp has a “Overweight” rating and a $26.00 price target on the stock. KeyCorp also issued estimates for Bonanza Creek Energy’s Q4 2019 earnings at $1.73 EPS, Q1 2020 earnings at $1.69 EPS, Q2 2020 earnings at $1.42 EPS and Q4 2020 earnings at $1.82 EPS.

A number of other equities research analysts have also commented on BCEI. ValuEngine upgraded Bonanza Creek Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. SunTrust Banks set a $24.00 price target on Bonanza Creek Energy and gave the company a “hold” rating in a research report on Friday, August 9th. Imperial Capital reiterated an “outperform” rating and issued a $30.00 price target (up previously from $28.00) on shares of Bonanza Creek Energy in a research report on Wednesday, July 24th. Finally, Zacks Investment Research upgraded Bonanza Creek Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $26.75.

NYSE BCEI opened at $20.49 on Wednesday. The business’s 50-day moving average price is $22.92 and its two-hundred day moving average price is $22.01. Bonanza Creek Energy has a 12 month low of $17.64 and a 12 month high of $30.42. The company has a current ratio of 1.05, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10.

Bonanza Creek Energy (NYSE:BCEI) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.37. Bonanza Creek Energy had a return on equity of 21.73% and a net margin of 61.37%. The firm had revenue of $85.78 million for the quarter, compared to analyst estimates of $85.02 million.

In related news, CAO Sandra Garbiso sold 2,813 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $21.99, for a total transaction of $61,857.87. Following the sale, the chief accounting officer now owns 11,060 shares in the company, valued at approximately $243,209.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in BCEI. Nordea Investment Management AB boosted its position in shares of Bonanza Creek Energy by 3.7% during the 1st quarter. Nordea Investment Management AB now owns 44,400 shares of the oil and gas producer’s stock valued at $1,008,000 after purchasing an additional 1,600 shares in the last quarter. FMR LLC raised its stake in Bonanza Creek Energy by 18.0% during the 1st quarter. FMR LLC now owns 29,500 shares of the oil and gas producer’s stock worth $669,000 after buying an additional 4,500 shares during the period. Denali Advisors LLC acquired a new position in Bonanza Creek Energy during the 2nd quarter worth approximately $77,000. WINTON GROUP Ltd acquired a new position in Bonanza Creek Energy during the 2nd quarter worth approximately $265,000. Finally, Virginia Retirement Systems ET AL raised its stake in Bonanza Creek Energy by 2.2% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 28,500 shares of the oil and gas producer’s stock worth $595,000 after buying an additional 600 shares during the period.

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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Earnings History and Estimates for Bonanza Creek Energy (NYSE:BCEI)

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