KeyBanc Believes Bonanza Creek (NYSE: BCEI) Still Has Room to Grow

In a report released today, Leo Mariani from KeyBanc maintained a Buy rating on Bonanza Creek (BCEIResearch Report), with a price target of $27.00. The company’s shares closed last Wednesday at $23.43, close to its 52-week high of $25.80.

According to, Mariani is a 2-star analyst with an average return of 1.4% and a 47.7% success rate. Mariani covers the Utilities sector, focusing on stocks such as Centennial Resource Development, Whiting Petroleum Corporation, and Continental Resources.

Currently, the analyst consensus on Bonanza Creek is a Strong Buy with an average price target of $36.00.

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Based on Bonanza Creek’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $58.86 million and net profit of $3.25 million. In comparison, last year the company earned revenue of $75.18 million and had a net profit of $35.89 million.

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Bonanza Creek Energy, Inc. engages in the acquisition, exploration, development, and production of onshore oil and associated liquids. It holds interest in Wattenberg Field, Niobrara and Codell formations, and in Southern Arkansas, focused on oily Cotton Valley sands. The company was founded on December 2, 2010 and is headquartered in Denver, CO.