Bill Barrett (NYSE:BBG) Stock Rating Upgraded by Zacks Investment Research

Bill Barrett (NYSE:BBG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday, February 5th. The firm presently has a $5.75 price target on the energy company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 14.31% from the company’s previous close.

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

Shares of Bill Barrett (NYSE BBG) opened at $5.03 on Monday. Bill Barrett has a one year low of $2.66 and a one year high of $6.93. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 1.30.

In other news, CEO R Scot Woodall sold 10,000 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $4.64, for a total transaction of $46,400.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.70% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its holdings in Bill Barrett by 48.2% in the 4th quarter. Renaissance Technologies LLC now owns 6,266,600 shares of the energy company’s stock valued at $32,148,000 after purchasing an additional 2,038,500 shares in the last quarter. Bogle Investment Management L P DE purchased a new position in Bill Barrett in the 4th quarter valued at $281,000. Geode Capital Management LLC lifted its holdings in Bill Barrett by 67.6% in the 4th quarter. Geode Capital Management LLC now owns 1,041,311 shares of the energy company’s stock valued at $5,341,000 after purchasing an additional 419,843 shares in the last quarter. Monashee Investment Management LLC purchased a new position in Bill Barrett in the 4th quarter valued at $1,898,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Bill Barrett in the 4th quarter valued at $222,000. Institutional investors own 91.01% of the company’s stock.

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Bill Barrett 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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