Bill Barrett (BBG) Upgraded to Buy at Zacks Investment Research

Bill Barrett (NYSE:BBG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday, February 5th. The firm presently has a $5.75 target price on the energy company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 5.70% from the stock’s current price.

According to Zacks, “Bill Barrett Corporation is a Denver-based exploration and production company focused on the development of oil and natural gas assets located in the Denver-Julesburg (DJ) Basin of Colorado and the Uinta Basin of Utah. The Company has projects in nine basins in the Rocky Mountains. “

BBG has been the topic of a number of other reports. ValuEngine lowered Bill Barrett from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Imperial Capital raised Bill Barrett from an “in-line” rating to an “outperform” rating and set a $8.00 price objective on the stock in a report on Thursday, November 2nd. KeyCorp reaffirmed a “hold” rating on shares of Bill Barrett in a report on Monday, October 16th. BMO Capital Markets set a $4.00 target price on Bill Barrett and gave the stock a “hold” rating in a report on Tuesday, October 10th. Finally, Barclays dropped their price objective on Bill Barrett from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $6.63.

Shares of Bill Barrett (NYSE BBG) opened at $5.44 on Monday. 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 has a 12 month low of $2.66 and a 12 month high of $6.93.

In other Bill Barrett 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 transaction of $46,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. Northern Trust Corp grew its stake in shares of Bill Barrett by 18.6% in the second quarter. Northern Trust Corp now owns 902,822 shares of the energy company’s stock valued at $2,772,000 after buying an additional 141,490 shares in the last quarter. Cornerstone Capital Management Holdings LLC. grew its stake in shares of Bill Barrett by 115.9% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 104,300 shares of the energy company’s stock valued at $447,000 after buying an additional 56,000 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Bill Barrett by 6.9% in the second quarter. Goldman Sachs Group Inc. now owns 589,367 shares of the energy company’s stock valued at $1,809,000 after buying an additional 37,922 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in shares of Bill Barrett in the third quarter valued at $370,000. Finally, Wasatch Advisors Inc. grew its stake in shares of Bill Barrett by 15.3% in the second quarter. Wasatch Advisors Inc. now owns 797,863 shares of the energy company’s stock valued at $2,449,000 after buying an additional 105,834 shares in the last quarter. 91.01% of the stock is owned by institutional investors.

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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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