Scotiabank Reiterates “Sector Outperform” Rating for Bill Barrett Corp. (BBG)
Bill Barrett Corp. (NYSE:BBG)‘s stock had its “sector outperform” rating restated by investment analysts at Scotiabank in a research report issued on Saturday. They presently have a $14.00 price objective on the energy company’s stock, up from their previous price objective of $12.00. Scotiabank’s price objective suggests a potential upside of 170.79% from the company’s previous close.
Several other brokerages have also issued reports on BBG. Johnson Rice assumed coverage on Bill Barrett Corp. in a research note on Thursday, June 30th. They set a “buy” rating on the stock. Zacks Investment Research raised Bill Barrett Corp. from a “hold” rating to a “buy” rating and set a $6.75 price target on the stock in a research note on Monday, August 15th. Barclays PLC cut their price target on Bill Barrett Corp. from $8.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 11th. Cantor Fitzgerald reaffirmed a “hold” rating on shares of Bill Barrett Corp. in a research note on Sunday, August 14th. Finally, Canaccord Genuity set a $7.00 price target on Bill Barrett Corp. and gave the company a “hold” rating in a research note on Saturday, August 6th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. Bill Barrett Corp. presently has an average rating of “Hold” and an average target price of $7.67.
Shares of Bill Barrett Corp. (NYSE:BBG) traded down 1.34% during midday trading on Friday, reaching $5.17. The company’s stock had a trading volume of 2,255,947 shares. The stock has a 50-day moving average of $5.78 and a 200 day moving average of $6.52. Bill Barrett Corp. has a 12 month low of $2.19 and a 12 month high of $9.38. The company’s market cap is $311.28 million.
Bill Barrett Corp. (NYSE:BBG) last posted its quarterly earnings data on Thursday, August 4th. The energy company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 3.97% and a negative net margin of 304.34%. The business’s revenue was down 24.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.18) earnings per share. On average, analysts predict that Bill Barrett Corp. will post ($0.70) earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in BBG. AJO LP acquired a new stake in shares of Bill Barrett Corp. during the second quarter valued at about $1,865,000. 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 valued at $803,000 after buying an additional 3,616 shares during the period. EAM Investors LLC acquired a new stake in shares of Bill Barrett Corp. during the second quarter valued at about $703,000. Victory Capital Management Inc. acquired a new stake in shares of Bill Barrett Corp. during the second quarter valued at about $636,000. Finally, Quantbot Technologies LP increased its stake in shares of Bill Barrett Corp. by 908.1% in the second quarter. Quantbot Technologies LP now owns 21,171 shares of the energy company’s stock valued at $135,000 after buying an additional 19,071 shares during the period.
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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