Bill Barrett Corporation (BBG) Shares Down 0.8% on Insider Selling

Shares of Bill Barrett Corporation (NYSE:BBG) were down 0.8% on Tuesday after an insider sold shares in the company. The stock traded as low as $5.97 and last traded at $6.71. Approximately 1,438,900 shares traded hands during trading, a decline of 22% from the average daily volume of 1,838,593 shares. The stock had previously closed at $6.66.

Specifically, CEO R Scot Woodall sold 10,000 shares of Bill Barrett Corporation stock in a transaction 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 filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 30,000 shares of company stock worth $136,500 in the last ninety days. 2.70% of the stock is owned by company insiders.

BBG has been the topic of a number of research reports. Zacks Investment Research raised Bill Barrett Corporation from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. BMO Capital Markets set a $3.00 target price on Bill Barrett Corporation and gave the stock a “hold” rating in a research report on Saturday, August 12th. Scotiabank reiterated a “buy” rating and set a $10.00 price target on shares of Bill Barrett Corporation in a report on Wednesday, November 1st. Imperial Capital initiated coverage on Bill Barrett Corporation in a report on Thursday, September 28th. They set an “in-line” rating and a $5.00 price target on the stock. Finally, KeyCorp restated a “hold” rating on shares of Bill Barrett Corporation in a research note on Tuesday, September 12th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $6.27.

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

Bill Barrett Corporation (NYSE:BBG) last released its quarterly earnings results on Tuesday, October 31st. The energy company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.12. The company had revenue of $67.87 million during the quarter, compared to the consensus estimate of $61.23 million. Bill Barrett Corporation had a negative return on equity of 7.59% and a negative net margin of 49.61%. The firm’s revenue was up 34.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.10) EPS. sell-side analysts forecast that Bill Barrett Corporation will post -0.52 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System lifted its position in shares of Bill Barrett Corporation by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 39,760 shares of the energy company’s stock worth $122,000 after purchasing an additional 300 shares during the last quarter. New York State Teachers Retirement System lifted its position in shares of Bill Barrett Corporation by 0.8% during the 1st quarter. New York State Teachers Retirement System now owns 86,863 shares of the energy company’s stock worth $395,000 after purchasing an additional 700 shares during the last quarter. Texas Permanent School Fund lifted its position in shares of Bill Barrett Corporation by 1.6% during the 2nd quarter. Texas Permanent School Fund now owns 55,704 shares of the energy company’s stock worth $171,000 after purchasing an additional 882 shares during the last quarter. Stevens Capital Management LP lifted its position in shares of Bill Barrett Corporation by 1.3% during the 2nd quarter. Stevens Capital Management LP now owns 107,077 shares of the energy company’s stock worth $329,000 after purchasing an additional 1,411 shares during the last quarter. Finally, National Asset Management Inc. lifted its position in shares of Bill Barrett Corporation by 4.9% during the 2nd quarter. National Asset Management Inc. now owns 64,500 shares of the energy company’s stock worth $199,000 after purchasing an additional 3,000 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

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About Bill Barrett Corporation

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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