Bill Barrett Corp. (BBG) Upgraded to “Buy” by Zacks Investment Research
Bill Barrett Corp. (NYSE:BBG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $5.75 price target on the energy company’s stock. Zacks Investment Research’s price target points to a potential upside of 12.75% from the stock’s current price.
According to Zacks, “Bill Barrett Corporation, headquartered in Denver, explores for and develops oil and natural gas in the Rocky Mountain region of the United States. The Company has projects in nine basins in the Rocky Mountains. “
Several other equities analysts have also weighed in on the stock. Cantor Fitzgerald reissued a “hold” rating on shares of Bill Barrett Corp. in a research report on Sunday, August 14th. Barclays PLC dropped their price objective on shares of Bill Barrett Corp. from $8.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 11th. Canaccord Genuity set a $7.00 price objective on shares of Bill Barrett Corp. and gave the company a “hold” rating in a research report on Saturday, August 6th. Johnson Rice assumed coverage on shares of Bill Barrett Corp. in a research report on Thursday, June 30th. They issued a “buy” rating on the stock. Finally, Deutsche Bank AG increased their price objective on shares of Bill Barrett Corp. from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Tuesday, June 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $6.85.
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Bill Barrett Corp. (NYSE:BBG) traded up 1.39% during trading on Tuesday, reaching $5.10. 1,973,669 shares of the company’s stock were exchanged. The firm’s market cap is $307.07 million. The stock’s 50 day moving average price is $6.07 and its 200 day moving average price is $6.56. Bill Barrett Corp. has a 52-week low of $2.19 and a 52-week high of $9.38.
Bill Barrett Corp. (NYSE:BBG) last issued its quarterly earnings data on Thursday, August 4th. The energy company reported ($0.13) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.08. The company had revenue of $57.28 million for the quarter, compared to analyst estimates of $55.67 million. Bill Barrett Corp. had a negative net margin of 304.34% and a negative return on equity of 3.97%. The company’s revenue was down 24.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.18) earnings per share. Equities research analysts anticipate that Bill Barrett Corp. will post ($0.70) EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in BBG. A.R.T. Advisors LLC increased its stake in shares of Bill Barrett Corp. by 2.9% in the first quarter. A.R.T. Advisors LLC now owns 129,249 shares of the energy company’s stock worth $803,000 after buying an additional 3,616 shares during the last quarter. EAM Investors LLC bought a new stake in Bill Barrett Corp. during the second quarter worth $703,000. AJO LP bought a new stake in Bill Barrett Corp. during the second quarter worth $1,865,000. Quantbot Technologies LP increased its stake in Bill Barrett Corp. by 908.1% in the second quarter. Quantbot Technologies LP now owns 21,171 shares of the energy company’s stock worth $135,000 after buying an additional 19,071 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Bill Barrett Corp. by 13.5% in the first quarter. JPMorgan Chase & Co. now owns 6,254,013 shares of the energy company’s stock worth $38,900,000 after buying an additional 744,528 shares during the last quarter.
Bill Barrett Corp. Company Profile
Bill Barrett Corporation is an independent energy company that develops, acquires and explores for oil and natural gas resources. The Company’s assets and operations are located in the Rocky Mountain region of the United States. The Company develops oil and natural gas in the Rocky Mountain region of the United States.
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