Bill Barrett (BBG) Shares Gap Up to $5.85

Bill Barrett Co. (NYSE:BBG) shares gapped up before the market opened on Friday . The stock had previously closed at $5.63, but opened at $5.85. Bill Barrett shares last traded at $5.98, with a volume of 2872848 shares traded.

A number of research analysts recently issued reports on BBG shares. Scotiabank reiterated a “buy” rating and set a $10.00 price objective on shares of Bill Barrett in a report on Wednesday, November 1st. Stifel Nicolaus set a $7.00 price objective on Bill Barrett and gave the stock a “buy” rating in a report on Thursday, October 5th. Zacks Investment Research upgraded Bill Barrett from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a report on Tuesday, October 3rd. Barclays increased their price objective on Bill Barrett from $4.00 to $7.00 and gave the stock an “equal weight” rating in a report on Monday, November 20th. Finally, BMO Capital Markets set a $3.00 price objective on Bill Barrett and gave the stock a “hold” rating in a report on Saturday, August 12th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. Bill Barrett has a consensus rating of “Hold” and a consensus target price of $6.58.

The company has a debt-to-equity ratio of 1.30, a current ratio of 2.78 and a quick ratio of 2.78.

Bill Barrett (NYSE:BBG) last issued its quarterly earnings results on Tuesday, October 31st. The energy company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.12. Bill Barrett had a negative return on equity of 7.59% and a negative net margin of 49.61%. The firm had revenue of $67.87 million during the quarter, compared to analysts’ expectations of $61.23 million. During the same period in the prior year, the firm posted ($0.10) earnings per share. The business’s quarterly revenue was up 34.4% compared to the same quarter last year. analysts forecast that Bill Barrett Co. will post -0.49 earnings per share for the current fiscal year.

In related news, CEO R Scot Woodall sold 10,000 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $3.04, for a total transaction of $30,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 30,000 shares of company stock valued at $136,500 over the last three months. Insiders own 2.70% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of Bill Barrett by 40.1% in the second quarter. Dimensional Fund Advisors LP now owns 6,214,771 shares of the energy company’s stock valued at $19,079,000 after buying an additional 1,777,309 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Bill Barrett by 7.8% in the first quarter. Vanguard Group Inc. now owns 5,483,818 shares of the energy company’s stock valued at $24,951,000 after buying an additional 397,849 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Bill Barrett by 12.2% in the second quarter. JPMorgan Chase & Co. now owns 5,312,279 shares of the energy company’s stock valued at $16,309,000 after buying an additional 579,442 shares during the last quarter. State Street Corp lifted its position in shares of Bill Barrett by 62.2% in the first quarter. State Street Corp now owns 4,865,033 shares of the energy company’s stock valued at $22,136,000 after buying an additional 1,865,747 shares during the last quarter. Finally, Divisar Capital Management LLC lifted its position in shares of Bill Barrett by 105.5% in the second quarter. Divisar Capital Management LLC now owns 3,528,178 shares of the energy company’s stock valued at $10,832,000 after buying an additional 1,811,339 shares during the last quarter. 85.80% of the stock is owned by institutional investors.

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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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