Bonanza Creek Energy (BCEI) Downgraded by Zacks Investment Research to Hold

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. “

BCEI has been the subject of several other research reports. BidaskClub raised shares of Bonanza Creek Energy from a “hold” rating to a “buy” rating in a research report on Friday, November 3rd. KeyCorp reaffirmed a “hold” rating on shares of Bonanza Creek Energy in a research report on Monday, November 13th. Finally, ValuEngine raised shares of Bonanza Creek Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Six investment analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and a consensus price target of $28.50.

Shares of Bonanza Creek Energy (NYSE:BCEI) opened at $25.74 on Tuesday. Bonanza Creek Energy has a 52-week low of $23.33 and a 52-week high of $40.60. The company has a market cap of $529.13, a PE ratio of -0.17 and a beta of 1.91.

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

Institutional investors have recently added to or reduced their stakes in the stock. Westwood Holdings Group Inc. purchased a new stake in Bonanza Creek Energy in the 2nd quarter worth approximately $181,000. Voya Investment Management LLC purchased a new stake in Bonanza Creek Energy in the 2nd quarter worth approximately $304,000. AXA purchased a new stake in Bonanza Creek Energy in the 4th quarter worth approximately $281,000. Wolverine Asset Management LLC purchased a new stake in Bonanza Creek Energy in the 4th quarter worth approximately $305,000. Finally, Nationwide Fund Advisors purchased a new stake in Bonanza Creek Energy in the 2nd quarter worth approximately $366,000. 91.17% of the stock is owned by institutional investors.

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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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