Bonanza Creek Energy Inc (BCEI) was Upgraded by Stifel to ” Hold” according to the research note released today. The brokerage firm has raised the Price Target to $ 1 from a previous price target of $0.75 . Earlier the firm had a rating of “Sell ” on the company shares. Stifel advised their investors in a research report released on Sep 29, 2016.
Many Wall Street Analysts have commented on Bonanza Creek Energy Inc. Bonanza Creek Energy Inc was Downgraded by SunTrust to ” Reduce” on Jul 27, 2016.
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 $0.8355 and hit $0.96 on the upside on Tuesday, eventually ending the session at $0.921, with a gain of 5.83% or 0.0507 points. The heightened volatility saw the trading volume jump to 15,68,763 shares. Company has a market cap of $46 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%.