Bill Barrett Co. (NYSE:BBG) had its target price cut by stock analysts at FBR & Co from $6.00 to $5.00 in a research note issued to investors on Thursday, May 4th. The firm currently has a “market perform” rating on the energy company’s stock. FBR & Co’s target price suggests a potential upside of 20.19% from the stock’s current price.
Several other equities analysts have also recently weighed in on BBG. Stifel Nicolaus reissued a “buy” rating and set a $8.00 price objective on shares of Bill Barrett in a research report on Wednesday, April 12th. Canaccord Genuity set a $8.00 price objective on Bill Barrett and gave the stock a “hold” rating in a research report on Saturday, March 4th. National Securities assumed coverage on Bill Barrett in a research report on Wednesday, January 25th. They set a “buy” rating and a $9.00 price objective for the company. Zacks Investment Research cut Bill Barrett from a “buy” rating to a “hold” rating in a research report on Tuesday, February 7th. Finally, KLR Group reissued a “buy” rating and set a $10.00 price objective (up previously from $9.00) on shares of Bill Barrett in a research report on Friday, March 3rd. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $8.00.
Bill Barrett (NYSE:BBG) last announced its quarterly earnings results on Tuesday, May 2nd. The energy company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.10. Bill Barrett had a negative return on equity of 4.43% and a negative net margin of 81.86%. The company had revenue of $50.54 million during the quarter, compared to analysts’ expectations of $52.83 million.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the company. CAMG Solamere Management LLC purchased a new position in Bill Barrett during the fourth quarter valued at about $103,000. Wells Fargo & Company MN increased its position in Bill Barrett by 24.6% in the third quarter. Wells Fargo & Company MN now owns 20,234 shares of the energy company’s stock valued at $113,000 after buying an additional 4,000 shares in the last quarter. UBS Group AG increased its position in Bill Barrett by 50.2% in the first quarter. UBS Group AG now owns 26,186 shares of the energy company’s stock valued at $119,000 after buying an additional 8,750 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in 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 valued at $122,000 after buying an additional 11,900 shares in the last quarter. Finally, Alambic Investment Management L.P. purchased a new position in Bill Barrett during the first quarter valued at about $126,000. 83.00% of the stock is currently owned by hedge funds and other institutional investors.
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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