Scotiabank Reiterates “Buy” Rating for Bill Barrett Co. (BBG)
Bill Barrett Co. (NYSE:BBG)‘s stock had its “buy” rating restated by investment analysts at Scotiabank in a note issued to investors on Wednesday. They currently have a $10.00 price objective on the energy company’s stock. Scotiabank’s price target indicates a potential upside of 102.84% from the stock’s previous close.
Several other equities analysts also recently issued reports on BBG. ValuEngine raised Bill Barrett from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Imperial Capital initiated coverage on Bill Barrett in a research report on Thursday, September 28th. They issued an “in-line” rating and a $5.00 target price on the stock. Zacks Investment Research raised Bill Barrett from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research report on Tuesday, October 3rd. Stifel Nicolaus set a $7.00 target price on Bill Barrett and gave the company a “buy” rating in a research report on Thursday, October 5th. Finally, KeyCorp reissued a “hold” rating on shares of Bill Barrett in a research report on Monday, October 16th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $6.04.
Bill Barrett (NYSE:BBG) last issued its quarterly earnings results on Tuesday, October 31st. The energy company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. The business had revenue of $67.87 million for the quarter, compared to the consensus estimate of $61.23 million. Bill Barrett had a negative return on equity of 13.43% and a negative net margin of 36.12%. The business’s quarterly revenue was up 34.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.10) earnings per share.
In other Bill Barrett news, CEO R Scot Woodall sold 10,000 shares of the stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $4.19, for a total transaction of $41,900.00. The sale was disclosed in a filing with the SEC, which is available through this link. 2.70% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in BBG. McQueen, Ball & Associates acquired a new stake in Bill Barrett during the 4th quarter worth about $251,000. Acadian Asset Management grew its position in Bill Barrett by 54.7% during the 4th quarter. Acadian Asset Management now owns 994,428 shares of the energy company’s stock worth $3,908,000 after purchasing an additional 351,414 shares during the period. Russell Frank Co grew its position in Bill Barrett by 24.8% during the 4th quarter. Russell Frank Co now owns 1,725,681 shares of the energy company’s stock worth $6,574,000 after purchasing an additional 342,906 shares during the period. Deprince Race & Zollo Inc. grew its position in Bill Barrett by 287.7% during the 4th quarter. Deprince Race & Zollo Inc. now owns 290,772 shares of the energy company’s stock worth $1,143,000 after purchasing an additional 215,772 shares during the period. Finally, California State Teachers Retirement System grew its position in Bill Barrett by 1.8% during the 4th quarter. California State Teachers Retirement System now owns 92,688 shares of the energy company’s stock worth $364,000 after purchasing an additional 1,600 shares during the period. 90.58% of the stock is currently owned by institutional investors.
About Bill Barrett
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. It has over two areas of production: The Denver-Julesburg Basin (DJ Basin) and the Uinta Oil Program in the Uinta Basin.
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