Zacks Investment Research downgraded shares of Bill Barrett Corp. (NYSE:BBG) from a buy rating to a hold rating in a report issued on Wednesday.

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. “

Analyst Recommendations for Bill Barrett Corp. (NYSE:BBG)

BBG has been the subject of several other research reports. Cantor Fitzgerald reissued a hold rating on shares of Bill Barrett Corp. in a research report on Sunday, August 14th. Wunderlich dropped their price target on Bill Barrett Corp. from $10.00 to $9.00 and set a buy rating for the company in a research report on Friday, June 3rd. Barclays PLC raised their price target on Bill Barrett Corp. from $7.00 to $8.00 and gave the stock an equal weight rating in a research report on Monday, June 6th. Johnson Rice initiated coverage on Bill Barrett Corp. in a research report on Thursday, June 30th. They set a buy rating for the company. Finally, Deutsche Bank AG raised their price target on Bill Barrett Corp. from $8.00 to $9.00 and gave the stock a hold rating in a research report on Tuesday, June 14th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $6.92.

Shares of Bill Barrett Corp. (NYSE:BBG) opened at 5.03 on Wednesday. Bill Barrett Corp. has a one year low of $2.19 and a one year high of $9.38. The firm’s 50-day moving average price is $6.07 and its 200 day moving average price is $6.56. The stock’s market cap is $302.85 million.

Bill Barrett Corp. (NYSE:BBG) last released its quarterly earnings results on Thursday, August 4th. The energy company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.08. The company earned $57.28 million during the quarter, compared to the consensus estimate of $55.67 million. Bill Barrett Corp. had a negative return on equity of 3.97% and a negative net margin of 304.34%. Bill Barrett Corp.’s revenue was down 24.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.18) earnings per share. Equities research analysts expect that Bill Barrett Corp. will post ($0.70) EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio increased its position in shares of Bill Barrett Corp. by 7.2% in the second quarter. Public Employees Retirement System of Ohio now owns 22,400 shares of the energy company’s stock valued at $143,000 after buying an additional 1,498 shares in the last quarter. Sterling Capital Management LLC acquired a new position in shares of Bill Barrett Corp. during the second quarter valued at about $408,000. Schwab Charles Investment Management Inc. increased its position in shares of Bill Barrett Corp. by 11.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 620,776 shares of the energy company’s stock valued at $3,967,000 after buying an additional 65,984 shares in the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in shares of Bill Barrett Corp. during the second quarter valued at about $297,000. Finally, Numeric Investors LLC acquired a new position in shares of Bill Barrett Corp. during the second quarter valued at about $1,711,000.

Bill Barrett Corp. 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. The Company develops oil and natural gas in the Rocky Mountain region of the United States.

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