Bill Barrett Co. (NYSE:BBG) – Equities researchers at Seaport Global Securities lifted their Q4 2017 earnings per share estimates for shares of Bill Barrett in a note issued to investors on Wednesday. Seaport Global Securities analyst M. Kelly now anticipates that the energy company will earn $0.00 per share for the quarter, up from their prior forecast of ($0.01). Seaport Global Securities currently has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for Bill Barrett’s Q4 2018 earnings at $0.03 EPS.
Several other brokerages also recently weighed in on BBG. Barclays raised their target price on Bill Barrett from $4.00 to $7.00 and gave the company an “equal weight” rating in a research note on Monday, November 20th. BMO Capital Markets set a $6.00 target price on Bill Barrett and gave the company a “hold” rating in a research note on Tuesday, November 14th. ValuEngine downgraded Bill Barrett from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 31st. Imperial Capital upgraded Bill Barrett from an “in-line” rating to an “outperform” rating and set a $8.00 target price for the company in a research note on Thursday, November 2nd. Finally, Scotiabank restated a “buy” rating and set a $10.00 target price on shares of Bill Barrett in a research note on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $6.50.
Bill Barrett (NYSE:BBG) last announced its quarterly earnings results on Tuesday, October 31st. The energy company reported ($0.08) earnings per share (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 the consensus estimate of $61.23 million. During the same period in the prior year, the firm earned ($0.10) EPS. The firm’s quarterly revenue was up 34.4% compared to the same quarter last year.
Several hedge funds have recently modified their holdings of BBG. Divisar Capital Management LLC lifted its position in shares of Bill Barrett by 105.5% during the second quarter. Divisar Capital Management LLC now owns 3,528,178 shares of the energy company’s stock worth $10,832,000 after purchasing an additional 1,811,339 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Bill Barrett by 40.1% during the second quarter. Dimensional Fund Advisors LP now owns 6,214,771 shares of the energy company’s stock worth $19,079,000 after purchasing an additional 1,777,309 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Bill Barrett by 12.2% during the second quarter. JPMorgan Chase & Co. now owns 5,312,279 shares of the energy company’s stock worth $16,309,000 after purchasing an additional 579,442 shares during the last quarter. Thrivent Financial For Lutherans lifted its position in shares of Bill Barrett by 808.9% during the second quarter. Thrivent Financial For Lutherans now owns 396,096 shares of the energy company’s stock worth $1,216,000 after purchasing an additional 352,516 shares during the last quarter. Finally, Boston Partners lifted its position in shares of Bill Barrett by 27.7% during the third quarter. Boston Partners now owns 1,592,617 shares of the energy company’s stock worth $6,833,000 after purchasing an additional 345,380 shares during the last quarter. 85.72% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO R Scot Woodall sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $6.42, for a total transaction of $64,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.70% of the stock is owned by company insiders.
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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