Johnson Rice Initiates Coverage on Bill Barrett Corporation to Buy

Johnson Rice Initiates Coverage on Bill Barrett Corporation(NYSE:BBG). The shares have been rated Buy. The rating by Johnson Rice was issued on Jun 30, 2016.

In a different note, On Jun 14, 2016, Deutsche Bank said it Maintains its rating on Bill Barrett Corporation. In the research note, the firm Raises the price-target to $8.00 per share. The shares have been rated ‘Hold’ by the firm. On Jun 6, 2016, Barclays said it Maintains its rating on Bill Barrett Corporation. In the research note, the firm Raises the price-target to $7.00 per share. The shares have been rated ‘Equalweight’ by the firm. On May 3, 2016, Deutsche Bank said it Downgrades its rating on Bill Barrett Corporation. The shares have been rated ‘Hold’ by the firm. On Apr 28, 2016, KeyBanc said it Downgrades its rating on Bill Barrett Corporation. The shares have been rated ‘Sector Weight’ by the firm. On Apr 26, 2016, Cantor Fitzgerald said it Downgrades its rating on Bill Barrett Corporation. The shares have been rated ‘Hold’ by the firm.

Bill Barrett Corporation (BBG) shares turned negative on Tuesdays trading session with the shares closing down -0.43 points or -6.53% at a volume of 13,76,781. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $6.48. The peak price level was also seen at $6.48 while the days lowest was $5.92. Finally the shares closed at $6.15. The 52-week high of the shares is $9.38 while the 52-week low is $2.19. According to the latest information available, the market cap of the company is $309 M.

Bill Barrett Corporation(BBG) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $29.43M. Analysts had an estimated revenue of $55.60M. Earnings per share were $-0.28. Analysts had estimated an EPS of $-0.22.

Several Insider Transactions has been reported to the SEC. On Feb 20, 2015, Robert William Howard (CFO and Treasurer) sold 12,060 shares at $12.64 per share price.Also, On Jan 16, 2015, R Scot Woodall (CEO) purchased 5,000 shares at $9.69 per share price.

Bill Barrett Corporation is an independent energy company that develops acquires and explores for oil and natural gas resources. As of December 31 2014 the Company had two key areas of production: The Denver-Julesburg Basin (DJ Basin) and the Uinta Oil Program in the Uinta Basin. The Company’s acreage positions in the DJ Basin are predominantly located in Colorado’s eastern plains and parts of southeastern Wyoming. As of December 31 2014 DJ Basin’s estimated proved reserves were 73.1 MMBoe (million barrels of oil equivalent). DJ Basin’s had interests in 388 gross (250.2 net) producing wells as of December 31 2014. The Uinta Basin is located in northeastern Utah. As of December 31 2014 Uinta Basin’s estimated proved reserves were 48.1 MMBoe (million barrels of oil equivalent). Uinta Basin had interests in 350 gross (200.8 net) producing wells as of December 31 2014.

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