Bill Barrett Corporation (BBG) Upgraded to “Outperform” by Imperial Capital

Bill Barrett Corporation (NYSE:BBG) was upgraded by stock analysts at Imperial Capital from an “in-line” rating to an “outperform” rating in a research note issued on Thursday, November 2nd, Marketbeat reports. The brokerage presently has a $8.00 price target on the energy company’s stock. Imperial Capital’s target price indicates a potential upside of 40.85% from the stock’s current price.

A number of other analysts have also commented on BBG. ValuEngine lowered Bill Barrett Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Scotiabank reaffirmed a “buy” rating and set a $10.00 price objective on shares of Bill Barrett Corporation in a research report on Wednesday, November 1st. Zacks Investment Research raised Bill Barrett Corporation from a “hold” rating to a “buy” rating and set a $3.50 target price on the stock in a research report on Wednesday, July 12th. KeyCorp reissued a “hold” rating on shares of Bill Barrett Corporation in a research report on Monday, October 16th. Finally, BMO Capital Markets set a $4.00 price objective on Bill Barrett Corporation and gave the company a “hold” rating in a research report on Tuesday, October 10th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $6.58.

Bill Barrett Corporation (BBG) traded down $0.51 during trading on Thursday, reaching $5.68. 3,078,703 shares of the company’s stock traded hands, compared to its average volume of 1,850,194. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.78 and a quick ratio of 2.78. Bill Barrett Corporation has a 52-week low of $2.66 and a 52-week high of $8.24.

Bill Barrett Corporation (NYSE:BBG) last announced its quarterly earnings results on Tuesday, October 31st. The energy company reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.12. The firm had revenue of $67.87 million for the quarter, compared to analysts’ expectations 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 company’s revenue was up 34.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.10) earnings per share. analysts forecast that Bill Barrett Corporation will post -0.52 earnings per share for the current year.

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In related news, CEO R Scot Woodall sold 10,000 shares of the stock in a transaction on Friday, October 6th. The stock was sold at an average price of $4.19, for a total value of $41,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 30,000 shares of company stock valued at $136,500. 2.70% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA increased its stake in shares of Bill Barrett Corporation by 129.5% during the second quarter. BNP Paribas Arbitrage SA now owns 34,359 shares of the energy company’s stock valued at $105,000 after acquiring an additional 19,385 shares during the period. Cutler Group LP boosted its stake in shares of Bill Barrett Corporation by 3,046.7% during the 2nd quarter. Cutler Group LP now owns 37,760 shares of the energy company’s stock valued at $115,000 after buying an additional 36,560 shares during the period. UBS Group AG boosted its stake in shares of Bill Barrett Corporation by 50.2% during the 1st 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 during the period. Engineers Gate Manager LP acquired a new stake in shares of Bill Barrett Corporation during the 3rd quarter valued at $120,000. Finally, UBS Asset Management Americas Inc. raised its holdings in shares of Bill Barrett Corporation by 79.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 26,800 shares of the energy company’s stock valued at $122,000 after purchasing an additional 11,900 shares in the last quarter. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Bill Barrett Corporation (NYSE:BBG)

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