Bonanza Creek Energy, Inc. (BCEI) Draws Bearish Attention After Forming Bearish Double Bottom Chart Pattern

February 20, 2018 - By Michael Collier

The chart of Bonanza Creek Energy, Inc. (BCEI) shows a double bottom with $26.57 target or 6.00 % below today’s $28.27 share price. The 5 months chart pattern indicates high risk for the $578.22 million company. It was reported on Feb, 20 by Finviz.com. If the $26.57 price target is reached, the company will be worth $34.69M less. Double bottoms are rare but powerful chart patterns.

The stock increased 1.62% or $0.45 during the last trading session, reaching $28.27. About 90,615 shares traded. Bonanza Creek Energy, Inc. (NYSE:BCEI) has declined 89.11% since February 20, 2017 and is downtrending. It has underperformed by 105.81% the S&P500.

Analysts await Bonanza Creek Energy, Inc. (NYSE:BCEI) to report earnings on March, 21. They expect $0.34 earnings per share, up 100.50 % or $67.76 from last year’s $-67.42 per share. BCEI’s profit will be $6.95 million for 20.79 P/E if the $0.34 EPS becomes a reality. After $0.67 actual earnings per share reported by Bonanza Creek Energy, Inc. for the previous quarter, Wall Street now forecasts -49.25 % negative EPS growth.

Bonanza Creek Energy, Inc. (NYSE:BCEI) Ratings Coverage

Among 18 analysts covering Bonanza Creek Energy (NYSE:BCEI), 2 have Buy rating, 5 Sell and 11 Hold. Therefore 11% are positive. Bonanza Creek Energy had 48 analyst reports since July 28, 2015 according to SRatingsIntel. The stock of Bonanza Creek Energy, Inc. (NYSE:BCEI) has “Sell” rating given on Tuesday, August 2 by Wunderlich. The firm earned “Neutral” rating on Tuesday, October 13 by JP Morgan. Credit Suisse downgraded the stock to “Neutral” rating in Tuesday, March 8 report. BMO Capital Markets maintained the shares of BCEI in report on Friday, September 1 with “Hold” rating. The rating was maintained by BMO Capital Markets with “Hold” on Wednesday, June 21. The company was maintained on Wednesday, January 20 by Topeka Capital Markets. Topeka Capital Markets maintained Bonanza Creek Energy, Inc. (NYSE:BCEI) on Friday, May 6 with “Hold” rating. The rating was maintained by Deutsche Bank with “Hold” on Tuesday, June 14. The stock has “Hold” rating by Wunderlich on Wednesday, March 2. The company was downgraded on Wednesday, March 2 by KLR Group.

More notable recent Bonanza Creek Energy, Inc. (NYSE:BCEI) news were published by: Prnewswire.com which released: “SandRidge Energy Publishes Letter to Shareholders Regarding Strategic …” on December 11, 2017, also Seekingalpha.com with their article: “Bonanza Creek Energy (BCEI) on SandRidge Energy Acquisition of Bonanza Creek …” published on December 02, 2017, Globenewswire.com published: “Bonanza Creek Energy Provides Operational Update, Announces Year-End 2017 …” on January 29, 2018. More interesting news about Bonanza Creek Energy, Inc. (NYSE:BCEI) were released by: Denverpost.com and their article: “Denver-based Bonanza Creek Energy left standing at the altar” published on December 29, 2017 as well as Wsj.com‘s news article titled: “SandRidge Energy Nears Deal to Buy Bonanza Creek Energy” with publication date: November 15, 2017.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.