Analysts expect Bill Barrett Co. (NYSE:BBG) to report sales of $82.21 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Bill Barrett’s earnings. The lowest sales estimate is $79.12 million and the highest is $84.74 million. Bill Barrett reported sales of $51.62 million during the same quarter last year, which suggests a positive year-over-year growth rate of 59.3%. The business is expected to announce its next earnings results after the market closes on Tuesday, February 27th.
According to Zacks, analysts expect that Bill Barrett will report full year sales of $82.21 million for the current year, with estimates ranging from $232.29 million to $273.45 million. For the next fiscal year, analysts forecast that the firm will post sales of $492.85 million per share, with estimates ranging from $471.10 million to $541.30 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Bill Barrett.
Several research analysts have weighed in on BBG shares. Barclays lowered their price target on Bill Barrett from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 12th. Scotiabank reaffirmed a “buy” rating and set a $10.00 price target on shares of Bill Barrett in a research report on Wednesday, November 1st. ValuEngine lowered Bill Barrett from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 12th. Imperial Capital raised Bill Barrett from an “in-line” rating to an “outperform” rating and set a $8.00 price target on the stock in a research report on Thursday, November 2nd. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of Bill Barrett in a research report on Tuesday, December 19th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $6.63.
In related news, CEO R Scot Woodall sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $4.64, for a total transaction of $46,400.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.70% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Sterling Investment Advisors Ltd. increased its holdings in shares of Bill Barrett by 100.0% during the 4th quarter. Sterling Investment Advisors Ltd. now owns 20,000 shares of the energy company’s stock worth $103,000 after acquiring an additional 10,000 shares during the last quarter. Engineers Gate Manager LP acquired a new position in shares of Bill Barrett during the 3rd quarter worth approximately $120,000. Teacher Retirement System of Texas acquired a new position in shares of Bill Barrett during the 4th quarter worth approximately $128,000. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Bill Barrett during the 2nd quarter worth approximately $148,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Bill Barrett during the 4th quarter worth approximately $160,000. 85.49% of the stock is currently owned by institutional investors and hedge funds.
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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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