Imperial Capital Upgrades Bill Barrett Corporation (BBG) to “Outperform”

Bill Barrett Corporation (NYSE:BBG) was upgraded by Imperial Capital from an “in-line” rating to an “outperform” rating in a report issued on Thursday. The brokerage presently has a $8.00 target price on the energy company’s stock. Imperial Capital’s target price would suggest a potential upside of 18.87% from the company’s previous close.

Several other research analysts have also weighed in on BBG. ValuEngine lowered shares of Bill Barrett Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Zacks Investment Research lowered shares of Bill Barrett Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. BMO Capital Markets set a $4.00 target price on shares of Bill Barrett Corporation and gave the company a “hold” rating in a research note on Tuesday, October 10th. KeyCorp reissued a “hold” rating on shares of Bill Barrett Corporation in a research note on Tuesday, September 12th. Finally, Stifel Nicolaus set a $7.00 price target on shares of Bill Barrett Corporation and gave the stock a “buy” rating in a research report on Thursday, October 5th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $6.27.

Bill Barrett Corporation (NYSE BBG) traded up $0.57 during mid-day trading on Thursday, hitting $6.73. 3,730,000 shares of the stock traded hands, compared to its average volume of 1,610,000. Bill Barrett Corporation has a twelve month low of $2.66 and a twelve month high of $8.24. The company has a current ratio of 2.78, a quick ratio of 2.40 and a debt-to-equity ratio of 1.30.

Bill Barrett Corporation (NYSE:BBG) last announced its quarterly earnings results on Tuesday, October 31st. The energy company reported ($0.08) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.12. Bill Barrett Corporation had a negative net margin of 49.61% and a negative return on equity of 7.59%. The company had revenue of $67.87 million for the quarter, compared to analyst estimates of $61.23 million. During the same quarter last year, the business earned ($0.10) EPS. Bill Barrett Corporation’s revenue for the quarter was up 34.4% on a year-over-year basis. equities analysts anticipate that Bill Barrett Corporation will post -0.59 EPS for the current fiscal year.

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In other Bill Barrett Corporation news, CEO R Scot Woodall sold 10,000 shares of the stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $4.19, for a total transaction of $41,900.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.70% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of BBG. Wells Fargo & Company MN raised its position in shares of Bill Barrett Corporation by 260.4% in the 1st quarter. Wells Fargo & Company MN now owns 127,743 shares of the energy company’s stock valued at $581,000 after acquiring an additional 92,296 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of Bill Barrett Corporation by 79.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 26,800 shares of the energy company’s stock valued at $122,000 after acquiring an additional 11,900 shares during the period. Ameriprise Financial Inc. raised its position in shares of Bill Barrett Corporation by 1.4% in the 1st quarter. Ameriprise Financial Inc. now owns 551,082 shares of the energy company’s stock valued at $2,507,000 after acquiring an additional 7,822 shares during the period. Prudential Financial Inc. raised its holdings in Bill Barrett Corporation by 3.4% during the 1st quarter. Prudential Financial Inc. now owns 126,531 shares of the energy company’s stock worth $576,000 after buying an additional 4,170 shares during the period. Finally, Arizona State Retirement System acquired a new stake in Bill Barrett Corporation during the 1st quarter worth approximately $180,000. 90.58% of the stock is currently owned by institutional investors.

Bill Barrett Corporation 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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