Bonanza Creek Energy Inc (BCEI) was Downgraded by Imperial Capital to ” Underperform” while Lowering the Price Target of the company shares to $ 1.50 from a previous price target of $3.50 . Earlier the firm had a rating of “In-line ” on the company shares. Imperial Capital advised their investors in a research report released on May 25, 2016.
Many Wall Street Analysts have commented on Bonanza Creek Energy Inc. Company shares were Reiterated by Imperial Capital on May 10, 2016 to “In-line”, Firm has raised the Price Target to $ 3.50 from a previous price target of $1 .Bonanza Creek Energy Inc was Downgraded by Macquarie to ” Underperform” on May 9, 2016. Company shares were Reiterated by Topeka Capital Markets on May 6, 2016 to “Hold”, Firm has raised the Price Target to $ 3 from a previous price target of $2 .
On the company’s financial health, Bonanza Creek Energy Inc reported $-0.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.18 according to the earnings call on May 5, 2016. Analyst had a consensus of $-0.64. The company had revenue of $44.17 million for the quarter, compared to analysts expectations of $45.33 million. The company’s revenue was down -39.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.06 EPS.
Bonanza Creek Energy Inc closed down -0.07 points or -2.19% at $3.12 with 27,46,890 shares getting traded on Friday. Post opening the session at $3.18, the shares hit an intraday low of $3.04 and an intraday high of $3.255 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
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%.