Bonanza Creek Energy Inc (NYSE:BCEI) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 1,210,000 shares, a decrease of 18.8% from the September 15th total of 1,490,000 shares. Based on an average daily volume of 195,300 shares, the days-to-cover ratio is presently 6.2 days. Currently, 6.3% of the company's shares are sold short.
BCEI stock traded down $0.28 during midday trading on Friday, hitting $20.64. The stock had a trading volume of 114,644 shares, compared to its average volume of 268,486. The firm has a market cap of $430.01 million, a price-to-earnings ratio of 5.85 and a beta of 2.20. The business has a 50-day moving average of $19.48 and a two-hundred day moving average of $17.57. Bonanza Creek Energy has a 52-week low of $8.25 and a 52-week high of $25.56. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.74 and a quick ratio of 1.61.
Bonanza Creek Energy (NYSE:BCEI) last issued its quarterly earnings results on Thursday, August 6th. The oil and gas producer reported $0.61 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.30 by $0.31. The company had revenue of $36.19 million for the quarter, compared to analysts' expectations of $48.82 million. Bonanza Creek Energy had a return on equity of 7.51% and a net margin of 28.91%. Research analysts predict that Bonanza Creek Energy will post -1.53 earnings per share for the current year.
A number of research firms have recently weighed in on BCEI. SunTrust Banks increased their price objective on Bonanza Creek Energy from $13.00 to $16.00 and gave the company a "hold" rating in a research note on Thursday, July 30th. ValuEngine upgraded shares of Bonanza Creek Energy from a "sell" rating to a "hold" rating in a report on Monday, August 17th. Zacks Investment Research cut shares of Bonanza Creek Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 7th. Wells Fargo & Company began coverage on shares of Bonanza Creek Energy in a research report on Friday, September 25th. They set an "overweight" rating and a $33.00 price target on the stock. Finally, Seaport Global Securities assumed coverage on shares of Bonanza Creek Energy in a report on Monday, July 27th. They issued a "buy" rating and a $25.00 price objective for the company. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of "Buy" and an average target price of $24.86.
A number of hedge funds have recently modified their holdings of the stock. Parametric Portfolio Associates LLC boosted its holdings in Bonanza Creek Energy by 361.6% in the first quarter. Parametric Portfolio Associates LLC now owns 127,185 shares of the oil and gas producer's stock worth $1,431,000 after acquiring an additional 99,630 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Bonanza Creek Energy by 21.0% in the first quarter. BNP Paribas Arbitrage SA now owns 7,732 shares of the oil and gas producer's stock worth $87,000 after acquiring an additional 1,343 shares in the last quarter. WINTON GROUP Ltd boosted its holdings in Bonanza Creek Energy by 134.5% in the second quarter. WINTON GROUP Ltd now owns 183,635 shares of the oil and gas producer's stock worth $2,721,000 after acquiring an additional 105,326 shares in the last quarter. Federated Hermes Inc. bought a new stake in Bonanza Creek Energy in the second quarter worth $1,017,000. Finally, FMR LLC boosted its holdings in Bonanza Creek Energy by 18.9% in the second quarter. FMR LLC now owns 2,985,157 shares of the oil and gas producer's stock worth $44,240,000 after acquiring an additional 474,678 shares in the last quarter.
About Bonanza Creek Energy
Bonanza Creek Energy, Inc, an exploration and production company, focuses on the extraction of onshore oil and related liquids-rich natural gas in the United States. The company's primary oil and liquids-weighted assets are located in the Wattenberg Field in Colorado. As of December 31, 2018, it had proved reserves of 116.8 million barrel of oil equivalent.
See Also: Google Finance Portfolio Tips and Tricks
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
7 Valuable China Stocks That May Get Delisted
As if investors didn’t have enough to think about in 2020, tensions between the United States and China are continuing to flare up. One of the issues, of course, is the “what did they know and when did they know it” events surrounding the novel coronavirus. There are also issues surrounding global supply chains and the fate of 5G networking.
But another issue that should be drawing the concern of investors is the threat of Chinese stocks being delisted from American exchanges. On Friday, June 26 Luckin Coffee was delisted from the NASDAQ. The company had been in hot water since reports early this year that it had credited itself with thousands of phantom sales.
But that isn’t the reason for the delisting. The reality is that Chinese companies don’t abide by the same agreed upon accounting standards as American companies. And that can make it harder for investors to get an accurate picture of what is going on with their business at a given moment.
However, like most issues between the two countries, it’s not as simple as that. There are Chinese companies that are considering voluntarily and unilaterally removing themselves from American exchanges and list on the Hong Kong or Shanghai exchanges.
While neither of these moves would mean that U.S. investors would be prohibited from trading these stocks, it could make it more difficult.
U.S. relations with China will be an issue during this election year, and likely beyond. It would be well worth your time and attention to pay careful attention to your current or planned exposure to these China stocks.
View the "7 Valuable China Stocks That May Get Delisted".