$85.41 Million in Sales Expected for Bonanza Creek Energy Inc (NYSE:BCEI) This Quarter

Equities analysts expect Bonanza Creek Energy Inc (NYSE:BCEI) to announce $85.41 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Bonanza Creek Energy’s earnings. The lowest sales estimate is $80.00 million and the highest is $88.90 million. Bonanza Creek Energy reported sales of $74.38 million in the same quarter last year, which indicates a positive year-over-year growth rate of 14.8%. The firm is scheduled to announce its next quarterly earnings report on Thursday, November 14th.

According to Zacks, analysts expect that Bonanza Creek Energy will report full year sales of $332.05 million for the current fiscal year, with estimates ranging from $326.00 million to $338.09 million. For the next year, analysts forecast that the company will report sales of $387.17 million, with estimates ranging from $374.00 million to $394.62 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Bonanza Creek Energy.

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

Several brokerages have weighed in on BCEI. Imperial Capital reaffirmed an “outperform” rating and set a $30.00 price target (up from $28.00) on shares of Bonanza Creek Energy in a research report on Wednesday, July 24th. ValuEngine raised Bonanza Creek Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised Bonanza Creek Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, October 9th. KeyCorp began coverage on Bonanza Creek Energy in a research report on Tuesday, September 3rd. They set an “overweight” rating and a $26.00 price target on the stock. Finally, SunTrust Banks set a $24.00 price target on Bonanza Creek Energy and gave the stock a “hold” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $26.75.

In other Bonanza Creek Energy news, CAO Sandra Garbiso sold 2,813 shares of the 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 directly owns 11,060 shares of the company’s stock, valued at approximately $243,209.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the company. Parallel Advisors LLC acquired a new stake in shares of Bonanza Creek Energy during the 2nd quarter valued at about $27,000. Meeder Asset Management Inc. acquired a new stake in shares of Bonanza Creek Energy during the 3rd quarter valued at about $32,000. Bank of Montreal Can acquired a new stake in shares of Bonanza Creek Energy during the 2nd quarter valued at about $40,000. Denali Advisors LLC acquired a new stake in shares of Bonanza Creek Energy during the 2nd quarter valued at about $77,000. Finally, JPMorgan Chase & Co. grew its position in shares of Bonanza Creek Energy by 43.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,591 shares of the oil and gas producer’s stock valued at $133,000 after acquiring an additional 1,992 shares during the period.

BCEI stock traded up $0.03 during midday trading on Friday, reaching $19.09. The stock had a trading volume of 237,283 shares, compared to its average volume of 204,171. The firm has a fifty day simple moving average of $22.42 and a two-hundred day simple moving average of $21.88. The stock has a market cap of $388.74 million, a PE ratio of 3.97 and a beta of 1.48. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.05. Bonanza Creek Energy has a 52-week low of $17.64 and a 52-week high of $29.95.

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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