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

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)

A number of other equities research analysts have also recently issued reports on BBG. Canaccord Genuity restated a hold rating on shares of Bill Barrett Corp. in a report on Saturday, June 4th. Cantor Fitzgerald restated a hold rating and set a $7.50 price target on shares of Bill Barrett Corp. in a report on Friday, June 3rd. Wunderlich decreased their price target on shares of Bill Barrett Corp. from $10.00 to $9.00 and set a buy rating for the company in a report on Friday, June 3rd. Barclays PLC upped their price target on shares of Bill Barrett Corp. from $7.00 to $8.00 and gave the company an equal weight rating in a report on Monday, June 6th. Finally, Deutsche Bank AG upped their price objective on shares of Bill Barrett Corp. from $8.00 to $9.00 and gave the company a hold rating in a research report on Tuesday, June 14th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $6.92.

Bill Barrett Corp. (NYSE:BBG) opened at 5.03 on Wednesday. The stock’s 50 day moving average price is $6.07 and its 200 day moving average price is $6.56. The firm’s market capitalization is $302.85 million. Bill Barrett Corp. has a 12 month low of $2.19 and a 12 month high of $9.38.

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

Hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. purchased a new stake in Bill Barrett Corp. during the second quarter valued at $54,934,000. Emerald Acquisition Ltd. bought a new stake in Bill Barrett Corp. during the second quarter valued at approximately $5,559,000. JPMorgan Chase & Co. boosted its stake in Bill Barrett Corp. by 13.5% in the first quarter. JPMorgan Chase & Co. now owns 6,254,013 shares of the energy company’s stock valued at $38,900,000 after buying an additional 744,528 shares during the period. Royce & Associates LP boosted its stake in Bill Barrett Corp. by 1,498.5% in the second quarter. Royce & Associates LP now owns 560,035 shares of the energy company’s stock valued at $3,579,000 after buying an additional 525,000 shares during the period. Finally, Spark Investment Management LLC boosted its stake in Bill Barrett Corp. by 646.5% in the first quarter. Spark Investment Management LLC now owns 595,683 shares of the energy company’s stock valued at $3,705,000 after buying an additional 515,883 shares during the period.

About Bill Barrett Corp.

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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