Bonanza Creek Energy (BCEI) : Traders are bullish on Bonanza Creek Energy (BCEI) as it has outperformed the S&P 500 by a wide margin of 2.06% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 25.68%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 25.64% in the last 1 week, and is up 2.45% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Bonanza Creek Energy, Inc. has dropped 67.63% during the last 3-month period . Year-to-Date the stock performance stands at -80.83%. The stock has recorded a 20-day Moving Average of 15.63% and the 50-Day Moving Average is 33.1%.
Bonanza Creek Energy (NYSE:BCEI): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $1.00 and $1.00 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $1.11. The buying momentum continued till the end and the stock did not give up its gains. It closed at $1.01, notching a gain of 4.12% for the day. The total traded volume was 2,433,577 . The stock had closed at $0.97 on the previous day.
Also, Equity analysts at the Brokerage firm Deutsche Bank maintains its rating on Bonanza Creek Energy (NYSE:BCEI). The rating major has initiated the coverage with hold rating on the shares. The Analysts at Deutsche Bank lowers the price target from $2.5 per share to $1 per share. The rating by the firm was issued on August 5, 2016.
Bonanza Creek Energy, Inc. is an energy company engaged in the acquisition, exploration, development and production of onshore oil and associated liquids-rich natural gas in the United States. Its oil and liquids-weighted assets are concentrated primarily in the Wattenberg Field in Colorado, which the Company has designated the Rocky Mountain region and the Dorcheat Macedonia Field in Southern Arkansas, which it has designated the Mid-Continent region. In addition, the Company owns and operates oil-producing assets in the North Park Basin in Colorado and the McKamie Patton Field in Southern Arkansas. It operates approximately 98% of its proved reserves with an average working interest of approximately 86%.