Analysts forecast that Bill Barrett Co. (NYSE:BBG) will announce sales of $82.23 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Bill Barrett’s earnings, with the lowest sales estimate coming in at $79.12 million and the highest estimate coming in at $84.74 million. Bill Barrett reported sales of $51.62 million during the same quarter last year, which indicates a positive year-over-year growth rate of 59.3%. The business is expected to announce its next quarterly earnings report after the market closes on Tuesday, February 27th.
According to Zacks, analysts expect that Bill Barrett will report full year sales of $82.23 million for the current fiscal year, with estimates ranging from $232.29 million to $273.45 million. For the next year, analysts anticipate that the firm will post sales of $492.85 million per share, with estimates ranging from $471.10 million to $541.30 million. Zacks’ sales calculations are an average based on a survey of research analysts that follow Bill Barrett.
BBG has been the subject of several research analyst reports. ValuEngine upgraded Bill Barrett from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 31st. Scotiabank reiterated a “buy” rating and issued a $10.00 price objective on shares of Bill Barrett in a research report on Wednesday, November 1st. Imperial Capital upgraded Bill Barrett from an “in-line” rating to an “outperform” rating and set a $8.00 price objective for the company in a research report on Thursday, November 2nd. BMO Capital Markets set a $6.00 price objective on Bill Barrett and gave the stock a “hold” rating in a research report on Tuesday, November 14th. Finally, Barclays increased their price objective on Bill Barrett from $4.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Monday, November 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $6.63.
In other news, CEO R Scot Woodall sold 10,000 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $4.64, for a total value of $46,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.70% of the company’s stock.
A number of institutional investors have recently bought and sold shares of BBG. Franklin Resources Inc. purchased a new stake in Bill Barrett during the 4th quarter worth about $53,865,000. Renaissance Technologies LLC increased its position in Bill Barrett by 48.2% during the 4th quarter. Renaissance Technologies LLC now owns 6,266,600 shares of the energy company’s stock worth $32,148,000 after purchasing an additional 2,038,500 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Bill Barrett by 40.1% during the 2nd 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 in the last quarter. BlackRock Inc. increased its position in Bill Barrett by 16.6% during the 4th quarter. BlackRock Inc. now owns 12,359,488 shares of the energy company’s stock worth $63,406,000 after purchasing an additional 1,761,291 shares in the last quarter. Finally, Millennium Management LLC increased its position in Bill Barrett by 175.1% during the 4th quarter. Millennium Management LLC now owns 2,425,230 shares of the energy company’s stock worth $12,441,000 after purchasing an additional 1,543,634 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.
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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