Brokerages Set Bonanza Creek Energy Inc (NYSE:BCEI) Target Price at $26.67

Shares of Bonanza Creek Energy Inc (NYSE:BCEI) have been given a consensus rating of “Buy” by the six ratings firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $26.67.

Several equities analysts have issued reports on BCEI shares. SunTrust Banks set a $24.00 price objective on shares of Bonanza Creek Energy and gave the company a “hold” rating in a research note on Friday, August 9th. Zacks Investment Research upgraded shares of Bonanza Creek Energy from a “sell” rating to a “hold” rating in a research note on Tuesday. KeyCorp started coverage on shares of Bonanza Creek Energy in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $26.00 price objective for the company. Capital One Financial upgraded shares of Bonanza Creek Energy from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 23rd. Finally, Imperial Capital restated an “outperform” rating and issued a $30.00 price objective (up previously from $28.00) on shares of Bonanza Creek Energy in a research note on Wednesday, July 24th.

NYSE BCEI opened at $23.58 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.05 and a quick ratio of 1.02. Bonanza Creek Energy has a 1 year low of $17.64 and a 1 year high of $31.01. The company has a market capitalization of $486.46 million, a PE ratio of 5.39 and a beta of 1.48. The company has a fifty day moving average of $22.51 and a two-hundred day moving average of $21.93.

In other news, CAO Sandra Garbiso sold 2,813 shares of the company’s 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 completion of 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 filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. United Services Automobile Association raised its holdings in Bonanza Creek Energy by 4.8% during the second quarter. United Services Automobile Association now owns 50,797 shares of the oil and gas producer’s stock worth $1,061,000 after purchasing an additional 2,330 shares in the last quarter. Hillcrest Asset Management LLC raised its holdings in Bonanza Creek Energy by 0.6% during the second quarter. Hillcrest Asset Management LLC now owns 204,155 shares of the oil and gas producer’s stock worth $4,263,000 after purchasing an additional 1,220 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in Bonanza Creek Energy during the second quarter worth about $9,266,000. Citadel Advisors LLC raised its holdings in Bonanza Creek Energy by 64.5% during the second quarter. Citadel Advisors LLC now owns 147,719 shares of the oil and gas producer’s stock worth $3,084,000 after purchasing an additional 57,908 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Bonanza Creek Energy by 1.6% during the second quarter. Morgan Stanley now owns 654,881 shares of the oil and gas producer’s stock worth $13,673,000 after purchasing an additional 10,299 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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