SunTrust Banks Reiterates “$24.00” Price Target for Bonanza Creek Energy (NYSE:BCEI)

SunTrust Banks set a $24.00 price target on Bonanza Creek Energy (NYSE:BCEI) in a research report report published on Friday, TipRanks reports. The brokerage currently has a hold rating on the oil and gas producer’s stock.

A number of other brokerages have also recently weighed in on BCEI. Capital One Financial raised shares of Bonanza Creek Energy from an equal weight rating to an overweight rating in a report on Thursday, May 23rd. Imperial Capital reissued an outperform rating and set a $30.00 target price (up from $28.00) on shares of Bonanza Creek Energy in a report on Wednesday, July 24th. Finally, Zacks Investment Research cut shares of Bonanza Creek Energy from a hold rating to a strong sell rating in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Bonanza Creek Energy has an average rating of Hold and an average price target of $27.00.

Shares of NYSE:BCEI traded up $0.68 on Friday, reaching $22.35. 185,127 shares of the company’s stock were exchanged, compared to its average volume of 188,893. The company has a market cap of $454.36 million, a price-to-earnings ratio of 4.64 and a beta of 1.56. Bonanza Creek Energy has a fifty-two week low of $17.64 and a fifty-two week high of $34.17. The business has a 50-day simple moving average of $20.86. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.05 and a quick ratio of 1.17.

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in shares of Bonanza Creek Energy by 12.1% during 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 in the last quarter. Cooper Creek Partners Management LLC bought a new position in shares of Bonanza Creek Energy during the 1st quarter valued at about $6,721,000. Northern Trust Corp boosted its position in shares of Bonanza Creek Energy by 0.8% during the 4th quarter. Northern Trust Corp now owns 228,709 shares of the oil and gas producer’s stock valued at $4,727,000 after purchasing an additional 1,858 shares in the last quarter. Hillcrest Asset Management LLC boosted its position in shares of Bonanza Creek Energy by 35.9% during the 1st quarter. Hillcrest Asset Management LLC now owns 202,935 shares of the oil and gas producer’s stock valued at $4,605,000 after purchasing an additional 53,620 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Bonanza Creek Energy by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 151,778 shares of the oil and gas producer’s stock worth $3,137,000 after buying an additional 849 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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