Bill Barrett Corp. (NYSE:BBG) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Friday.

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. “

Several other equities analysts have also weighed in on BBG. Johnson Rice initiated coverage on Bill Barrett Corp. in a research note on Thursday, June 30th. They issued a “buy” rating on the stock. Cantor Fitzgerald reaffirmed a “hold” rating and set a $7.50 price target on shares of Bill Barrett Corp. in a research report on Wednesday, July 6th. Canaccord Genuity set a $7.00 price target on Bill Barrett Corp. and gave the stock a “hold” rating in a research report on Saturday, August 6th. Barclays PLC dropped their price target on Bill Barrett Corp. from $8.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 11th. Finally, Howard Weil raised their price target on Bill Barrett Corp. from $12.00 to $14.00 and gave the stock a “sector outperform” rating in a research report on Friday. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $7.44.

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

Shares of Bill Barrett Corp. (NYSE:BBG) traded down 1.34% during midday trading on Friday, reaching $5.17. The company’s stock had a trading volume of 2,252,261 shares. The firm’s market cap is $311.28 million. Bill Barrett Corp. has a 12 month low of $2.19 and a 12 month high of $9.38. The company has a 50-day moving average price of $5.81 and a 200-day moving average price of $6.53.

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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. increased its position in Bill Barrett Corp. by 3.6% in the first quarter. Prudential Financial Inc. now owns 117,906 shares of the energy company’s stock worth $733,000 after buying an additional 4,100 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of 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 in the last quarter. Geode Capital Management LLC increased its position in shares of Bill Barrett Corp. by 16.0% in the first quarter. Geode Capital Management LLC now owns 333,822 shares of the energy company’s stock valued at $2,076,000 after buying an additional 45,947 shares in the last quarter. Bogle Investment Management L P DE acquired a new position in shares of Bill Barrett Corp. during the first quarter valued at approximately $728,000. Finally, A.R.T. Advisors LLC increased its position in shares of Bill Barrett Corp. by 2.9% in the first quarter. A.R.T. Advisors LLC now owns 129,249 shares of the energy company’s stock valued at $803,000 after buying an additional 3,616 shares in the last quarter.

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.

5 Day Chart for NYSE:BBG

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