Bill Barrett Corporation (BBG) Upgraded at Zacks Investment Research

Bill Barrett Corporation (NYSE:BBG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, July 12th. The firm currently has a $3.50 price objective on the energy company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 6.38% from the stock’s current price.

According to Zacks, “Bill Barrett Corporation, headquartered in Denver, explores for and develops oil and natural gas in the Rocky Mountain region of the United States. The Company has projects in nine basins in the Rocky Mountains. “

BBG has been the topic of several other research reports. BMO Capital Markets set a $2.00 price target on Bill Barrett Corporation and gave the company a “hold” rating in a report on Monday, June 26th. Seaport Global Securities lowered Bill Barrett Corporation from a “neutral” rating to a “sell” rating and decreased their price target for the company from $6.00 to $1.50 in a report on Wednesday, June 21st. FBR & Co decreased their price target on Bill Barrett Corporation from $6.00 to $5.00 and set a “market perform” rating on the stock in a report on Thursday, May 4th. Barclays PLC restated an “equal weight” rating and set a $5.00 price target (down previously from $6.00) on shares of Bill Barrett Corporation in a report on Saturday, April 22nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Bill Barrett Corporation in a research report on Friday, May 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. Bill Barrett Corporation has a consensus rating of “Hold” and an average price target of $6.85.

Shares of Bill Barrett Corporation (BBG) traded down 1.22% during midday trading on Wednesday, hitting $3.25. 790,594 shares of the stock were exchanged. The stock’s market cap is $243.36 million. The firm’s 50 day moving average price is $3.20 and its 200-day moving average price is $4.37. Bill Barrett Corporation has a 52-week low of $2.75 and a 52-week high of $8.24.

Bill Barrett Corporation (NYSE:BBG) last released its quarterly earnings results on Tuesday, August 1st. The energy company reported ($0.17) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.07. Bill Barrett Corporation had a negative return on equity of 7.65% and a negative net margin of 52.54%. The company had revenue of $51.07 million for the quarter, compared to analyst estimates of $53.57 million. During the same quarter in the prior year, the firm posted ($0.13) EPS. Bill Barrett Corporation’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, equities research analysts expect that Bill Barrett Corporation will post ($0.81) earnings per share for the current fiscal year.

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Several institutional investors have recently bought and sold shares of BBG. Arizona State Retirement System increased its position in Bill Barrett Corporation by 0.8% in the second quarter. Arizona State Retirement System now owns 39,760 shares of the energy company’s stock worth $122,000 after buying an additional 300 shares during the last quarter. New York State Teachers Retirement System increased its position in Bill Barrett Corporation by 0.8% in the first quarter. New York State Teachers Retirement System now owns 86,863 shares of the energy company’s stock worth $395,000 after buying an additional 700 shares during the last quarter. Texas Permanent School Fund increased its position in Bill Barrett Corporation by 1.6% in the second quarter. Texas Permanent School Fund now owns 55,704 shares of the energy company’s stock worth $171,000 after buying an additional 882 shares during the last quarter. Malaga Cove Capital LLC increased its position in Bill Barrett Corporation by 1.8% in the first quarter. Malaga Cove Capital LLC now owns 143,594 shares of the energy company’s stock worth $646,000 after buying an additional 2,500 shares during the last quarter. Finally, Comerica Bank increased its position in Bill Barrett Corporation by 4.7% in the first quarter. Comerica Bank now owns 83,117 shares of the energy company’s stock worth $327,000 after buying an additional 3,741 shares during the last quarter.

Bill Barrett Corporation 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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