Zacks Investment Research upgraded shares of Bill Barrett (NYSE:BBG) from a hold rating to a buy rating in a report issued on Monday. They currently have $5.75 target price on the energy company’s stock.
According to Zacks, “Bill Barrett Corporation is a Denver-based exploration and production company focused on the development of oil and natural gas assets located in the Denver-Julesburg (DJ) Basin of Colorado and the Uinta Basin of Utah. The Company has projects in nine basins in the Rocky Mountains. “
Several other analysts have also recently commented on the company. Imperial Capital upgraded Bill Barrett from an in-line rating to an outperform rating and set a $9.00 price target for the company in a research report on Monday. ValuEngine cut Bill Barrett from a sell rating to a strong sell rating in a research report on Friday. Seaport Global Securities reiterated a neutral rating on shares of Bill Barrett in a research report on Tuesday, December 19th. Barclays dropped their price target on Bill Barrett from $7.00 to $6.00 and set an equal weight rating for the company in a research report on Tuesday, December 12th. Finally, BMO Capital Markets set a $6.00 price target on Bill Barrett and gave the stock a hold rating in a research report on Tuesday, November 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $6.63.
In other Bill Barrett news, CEO R Scot Woodall sold 10,000 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $4.64, for a total transaction of $46,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. National Asset Management Inc. boosted its stake in Bill Barrett by 4.9% during the second quarter. National Asset Management Inc. now owns 64,500 shares of the energy company’s stock worth $199,000 after buying an additional 3,000 shares during the last quarter. Sterling Investment Advisors Ltd. boosted its stake in Bill Barrett by 100.0% during the fourth quarter. Sterling Investment Advisors Ltd. now owns 20,000 shares of the energy company’s stock worth $103,000 after buying an additional 10,000 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in Bill Barrett by 9.6% during the third quarter. Municipal Employees Retirement System of Michigan now owns 129,560 shares of the energy company’s stock worth $556,000 after buying an additional 11,350 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Bill Barrett by 33.9% during the third quarter. BNP Paribas Arbitrage SA now owns 46,009 shares of the energy company’s stock worth $197,000 after buying an additional 11,650 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in Bill Barrett by 10.1% during the second quarter. California State Teachers Retirement System now owns 133,705 shares of the energy company’s stock worth $410,000 after buying an additional 12,300 shares during the last quarter. 85.49% of the stock is currently 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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