Breitburn Energy Given New $22.00 Price Target at RBC Capital (BBEP)
Equities researchers at RBC Capital boosted their price target on shares of Breitburn Energy (NASDAQ:BBEP) from $21.00 to $22.00 in a research report issued on Friday, Stock Ratings Network.com reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s target price indicates a potential upside of 10.94% from the stock’s previous close.
Separately, analysts at Robert W. Baird downgraded shares of Breitburn Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, February 28th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Breitburn Energy currently has a consensus rating of “Buy” and an average target price of $21.58.
Breitburn Energy (NASDAQ:BBEP) opened at 19.83 on Friday. Breitburn Energy has a one year low of $14.01 and a one year high of $21.36. The stock has a 50-day moving average of $20.06 and a 200-day moving average of $19.89. The company’s market cap is $2.364 billion.
Breitburn Energy (NASDAQ:BBEP) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.08) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.20 by $0.28. The company had revenue of $184.90 million for the quarter, compared to the consensus estimate of $217.67 million. During the same quarter last year, the company posted ($0.38) earnings per share. Breitburn Energy’s revenue was up 90.8% compared to the same quarter last year. On average, analysts predict that Breitburn Energy will post $0.86 earnings per share for the current fiscal year.
The company also recently declared a may 14 dividend, which is scheduled for Wednesday, May 14th. Stockholders of record on Monday, May 5th will be given a dividend of $0.1658 per share. This represents a yield of 9.78%. The ex-dividend date of this dividend is Thursday, May 1st. This is a boost from Breitburn Energy’s previous may 14 dividend of $0.16.
BreitBurn Energy Partners L.P. is an independent oil and gas partnership focused on the acquisition, exploitation and development of oil and gas properties in the United States.
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