Zacks Investment Research Upgrades Bill Barrett Corp. (BBG) to “Buy”
Bill Barrett Corp. (NYSE:BBG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $5.75 price objective on the energy company’s stock. Zacks Investment Research’s target price points to a potential upside of 12.75% from the company’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 brokerages also recently commented on BBG. Deutsche Bank AG upped their price objective on Bill Barrett Corp. from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Tuesday, June 14th. Barclays PLC upped their target price on Bill Barrett Corp. from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, June 6th. Canaccord Genuity reiterated a “hold” rating on shares of Bill Barrett Corp. in a report on Saturday, June 4th. Cantor Fitzgerald reiterated a “hold” rating and issued a $7.50 target price on shares of Bill Barrett Corp. in a report on Friday, June 3rd. Finally, Wunderlich lowered their target price on Bill Barrett Corp. from $10.00 to $9.00 and set a “buy” rating for the company in a report on Friday, June 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. The stock 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 midday trading on Tuesday, reaching $5.10. The company had a trading volume of 1,973,669 shares. The company’s market capitalization is $307.07 million. The firm has a 50-day moving average of $6.07 and a 200 day moving average of $6.56. Bill Barrett Corp. has a 1-year low of $2.19 and a 1-year high of $9.38.
Bill Barrett Corp. (NYSE:BBG) last announced its quarterly earnings data on Thursday, August 4th. The energy company reported ($0.13) EPS 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 the consensus estimate of $55.67 million. Bill Barrett Corp. had a negative return on equity of 3.97% and a negative net margin of 304.34%. Bill Barrett Corp.’s quarterly revenue was down 24.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.18) EPS. On average, equities research analysts forecast that Bill Barrett Corp. will post ($0.70) EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in BBG. Franklin Resources Inc. purchased a new position in shares of Bill Barrett Corp. during the second quarter worth $54,934,000. Emerald Acquisition Ltd. purchased a new position in shares of Bill Barrett Corp. during the second quarter worth $5,559,000. JPMorgan Chase & Co. raised its position in shares of 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 in the last quarter. Royce & Associates LP raised its position in shares of Bill Barrett Corp. by 1,498.5% in the second quarter. Royce & Associates LP now owns 560,035 shares of the energy company’s stock worth $3,579,000 after buying an additional 525,000 shares in the last quarter. Finally, Spark Investment Management LLC raised its position in shares of Bill Barrett Corp. by 646.5% in the first quarter. Spark Investment Management LLC now owns 595,683 shares of the energy company’s stock worth $3,705,000 after buying an additional 515,883 shares in the last quarter.
About Bill Barrett Corp.
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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