Bill Barrett Corp. (BBG) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Bill Barrett Corp. (NYSE:BBG) from a hold rating to a buy rating in a report released on Tuesday morning. Zacks Investment Research currently has $5.75 target price on the energy company’s stock.
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. “
BBG has been the subject of several other research reports. Deutsche Bank AG lifted their price objective on shares of Bill Barrett Corp. from $8.00 to $9.00 and gave the stock a hold rating in a research note on Tuesday, June 14th. Barclays PLC boosted their target price on shares of Bill Barrett Corp. from $7.00 to $8.00 and gave the company an equal weight rating in a research report on Monday, June 6th. Canaccord Genuity restated a hold rating on shares of Bill Barrett Corp. in a research report on Saturday, June 4th. Johnson Rice began coverage on shares of Bill Barrett Corp. in a research report on Thursday, June 30th. They issued a buy rating for the company. Finally, Cantor Fitzgerald restated a hold rating and issued a $7.50 target price on shares of Bill Barrett Corp. in a research report on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. Bill Barrett Corp. currently has a consensus rating of Hold and an average target price of $6.85.
Bill Barrett Corp. (NYSE:BBG) opened at 5.39 on Tuesday. Bill Barrett Corp. has a 52 week low of $2.19 and a 52 week high of $9.38. The company’s market capitalization is $324.53 million. The firm has a 50-day moving average of $6.05 and a 200-day moving average of $6.54.
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, topping the consensus estimate of ($0.21) by $0.08. Bill Barrett Corp. had a negative net margin of 304.34% and a negative return on equity of 3.97%. The business earned $57.28 million during the quarter, compared to analysts’ expectations of $55.67 million. During the same quarter in the previous year, the company earned ($0.18) EPS. The business’s revenue was down 24.5% on a year-over-year basis. Equities analysts expect that Bill Barrett Corp. will post ($0.70) earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. A.R.T. Advisors LLC increased its position in 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 position in Bill Barrett Corp. during the second quarter worth about $703,000. AJO LP bought a new position in Bill Barrett Corp. during the second quarter worth about $1,865,000. Quantbot Technologies LP increased its position 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, Oxford Asset Management bought a new position in Bill Barrett Corp. during the second quarter worth about $1,034,000.
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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