Bonanza Creek Energy Inc (BCEI) was Reiterated by Topeka Capital Markets to “Hold” according to the research note released today. The brokerage firm has raised the Price Target to $ 3 from a previous price target of $2 . Topeka Capital Markets advised their investors in a research report released on May 6, 2016.
Many Wall Street Analysts have commented on Bonanza Creek Energy Inc. Bonanza Creek Energy Inc was Downgraded by Credit Suisse to ” Neutral” on Mar 8, 2016. Bonanza Creek Energy Inc was Downgraded by Societe Generale to ” Hold” on Mar 3, 2016. Shares were Downgraded by Imperial Capital on Mar 2, 2016 to ” In-line” and Lowered the Price Target to $ 1 from a previous price target of $8.50 .
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 opened for trading at $3.14 and hit $3.55 on the upside on Wednesday, eventually ending the session at $3.2, with a gain of 6.31% or 0.19 points. The heightened volatility saw the trading volume jump to 55,51,778 shares. Company has a market cap of $159 M.
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%.