Bill Barrett Co. (BBG) Stock Rating Upgraded by Zacks Investment Research

Bill Barrett Co. (NYSE:BBG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday.

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 a number of other research reports. Barclays PLC restated an “equal weight” rating and set a $5.00 price objective (down previously from $6.00) on shares of Bill Barrett in a research report on Saturday, April 22nd. Stifel Nicolaus restated a “buy” rating and set a $8.00 price objective on shares of Bill Barrett in a research report on Friday, May 26th. FBR & Co reduced their price objective on Bill Barrett from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Thursday, May 4th. BMO Capital Markets restated a “hold” rating and set a $5.00 price objective on shares of Bill Barrett in a research report on Wednesday, May 3rd. Finally, Seaport Global Securities lowered Bill Barrett from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $6.00 to $1.50 in a research report on Wednesday, June 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. Bill Barrett currently has an average rating of “Hold” and an average price target of $6.92.

Shares of Bill Barrett (NYSE BBG) opened at 3.06 on Monday. Bill Barrett has a 1-year low of $2.75 and a 1-year high of $8.24. The stock’s market cap is $229.14 million. The stock’s 50 day moving average price is $3.21 and its 200 day moving average price is $4.10.

Bill Barrett (NYSE:BBG) last issued its earnings results on Tuesday, August 1st. The energy company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.07. The company had revenue of $51.07 million during the quarter, compared to analyst estimates of $53.57 million. Bill Barrett had a negative return on equity of 13.43% and a negative net margin of 36.12%. The business’s revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.13) EPS. On average, equities research analysts anticipate that Bill Barrett will post ($0.78) EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. UBS Group AG raised its position in shares of Bill Barrett by 50.2% in the first quarter. UBS Group AG now owns 26,186 shares of the energy company’s stock worth $119,000 after buying an additional 8,750 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of Bill Barrett by 79.9% in the first quarter. UBS Asset Management Americas Inc. now owns 26,800 shares of the energy company’s stock worth $122,000 after buying an additional 11,900 shares during the period. Alambic Investment Management L.P. acquired a new position in shares of Bill Barrett during the first quarter worth about $126,000. Louisiana State Employees Retirement System raised its position in shares of Bill Barrett by 27.3% in the first quarter. Louisiana State Employees Retirement System now owns 30,800 shares of the energy company’s stock worth $140,000 after buying an additional 6,600 shares during the period. Finally, OppenheimerFunds Inc. raised its position in shares of Bill Barrett by 99.0% in the first quarter. OppenheimerFunds Inc. now owns 30,842 shares of the energy company’s stock worth $140,000 after buying an additional 15,344 shares during the period.

Bill Barrett Company Profile

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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