Whitebox Advisors is Buying Bonanza Creek Energy Inc. (NYSE:BCEI) Shares

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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Bonanza Creek Energy Inc. (NYSE:BCEI) reported that Whitebox Advisors has picked up 2,320,588 of common stock as of 2017-08-04.

The acquisition brings the aggregate amount owned by Whitebox Advisors to a total of 2,320,588 representing a 11.4% in the company.

For those not familiar with the company, Bonanza Creek Energy, Inc. is an exploration and production company focused on the extraction of oil and associated liquids-rich natural gas in the United States. Founded in 1999, the company went public in December 2011. The common shares are listed for trading on the NYSE under the symbol “BCEI.”

A glance at Bonanza Creek Energy Inc. (NYSE:BCEI)’s key stats reveals a current market capitalization of 579.87M based on $20.35 shares outstanding and a price at last close of $28.50 per share.

Looking at insider activity, there are a few recent transactions worth noting.

Specifically, on 2017-01-05, Fir picked up 59,700 at a purchase price of $1.45 per share.This brings their total holding to 8,586,485 as of the date of the filing.

On the sell side, the most recent transaction saw Whitebox unload 20,237 shares at a sale price of $39.22. This brings their total holding to 2,319,414.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Bonanza Creek Energy Inc. (NYSE:BCEI) as things move forward to see if its progress aligns with these transactions. Subscribe below and we’ll keep you on top of what’s happening before it moves markets.