Mizuho Downgrades Bill Barrett to Neutral (BBG)
Bill Barrett (NYSE:BBG) was downgraded by investment analysts at Mizuho from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, TheFlyOnTheWall.com reports. They currently have a $28.00 price objective on the stock, down from their previous price objective of $29.00. Mizuho’s price objective would indicate a potential downside of 2.10% from the stock’s previous close. The analysts noted that the move was a valuation call.
Bill Barrett (NYSE:BBG) traded down 1.99% on Thursday, hitting $28.03. The stock had a trading volume of 343,839 shares. Bill Barrett has a one year low of $20.17 and a one year high of $30.69. The stock has a 50-day moving average of $25.58 and a 200-day moving average of $25.64. The company’s market cap is $1.345 billion.
Bill Barrett (NYSE:BBG) last released its earnings data on Thursday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by $0.13. The company had revenue of $127.70 million for the quarter, compared to the consensus estimate of $125.95 million. During the same quarter in the previous year, the company posted ($0.25) earnings per share. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. Analysts expect that Bill Barrett will post $0.30 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Midtown Partners upgraded shares of Bill Barrett from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 6th. They now have a $29.00 price target on the stock. Separately, analysts at Wells Fargo & Co. upgraded shares of Bill Barrett from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 6th. Finally, analysts at Barclays cut their price target on shares of Bill Barrett from $28.00 to $27.00 in a research note on Monday, May 5th. They now have an “equal weight” rating on the stock. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $30.00.
In other Bill Barrett news, SVP David R. Macosko sold 2,169 shares of the stock on the open market in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $27.52, for a total transaction of $59,690.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Bill Barrett Corporation explores for and develops oil and natural gas in the Rocky Mountain region of the United States.
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