Bonanza Creek Energy Inc (BCEI) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $-0.46 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.18. Analysts had a consensus of $-0.64. The company posted revenue of $44.17 million in the period, 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.
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 .
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%.