Zacks Investment Research Lowers Bonanza Creek Energy (BCEI) to Sell

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Zacks Investment Research lowered shares of Bonanza Creek Energy (NYSE:BCEI) from a strong-buy rating to a sell rating in a research report sent to investors on Friday, Zacks.com reports.

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. TheStreet raised Bonanza Creek Energy from a d rating to a c- rating in a research note on Friday, March 15th. Imperial Capital reissued an outperform rating and issued a $35.00 price target (up previously from $33.00) on shares of Bonanza Creek Energy in a research note on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The company has an average rating of Hold and an average target price of $34.25.

Shares of NYSE BCEI opened at $24.20 on Friday. Bonanza Creek Energy has a 1-year low of $18.41 and a 1-year high of $40.38. The firm has a market capitalization of $501.65 million, a price-to-earnings ratio of 5.13 and a beta of 1.52. The company has a current ratio of 1.19, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10.

Large investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Bonanza Creek Energy by 136.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,239 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 715 shares in the last quarter. Flinton Capital Management LLC boosted its stake in Bonanza Creek Energy by 69.8% during the fourth quarter. Flinton Capital Management LLC now owns 2,608 shares of the oil and gas producer’s stock valued at $54,000 after buying an additional 1,072 shares in the last quarter. Acadian Asset Management LLC bought a new position in Bonanza Creek Energy during the first quarter valued at about $75,000. BNP Paribas Arbitrage SA boosted its stake in Bonanza Creek Energy by 48,962.5% during the first quarter. BNP Paribas Arbitrage SA now owns 3,925 shares of the oil and gas producer’s stock valued at $89,000 after buying an additional 3,917 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund bought a new position in Bonanza Creek Energy during the fourth quarter valued at about $147,000.

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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