Bill Barrett Corporation (BBG) is Downgraded by KeyBanc Capital Mkts to Sector Weight

Bill Barrett Corporation (BBG) was Downgraded by KeyBanc Capital Mkts to ” Sector Weight”. Earlier the firm had a rating of “Overweight ” on the company shares. KeyBanc Capital Mkts advised their investors in a research report released on Apr 28, 2016.

Many Wall Street Analysts have commented on Bill Barrett Corporation. Bill Barrett Corporation was Downgraded by Cantor Fitzgerald to ” Hold” on Apr 26, 2016. Canaccord Genuity Downgraded Bill Barrett Corporation on Mar 30, 2016 to ” Hold”, Price Target of the shares are set at $6.Company shares were Reiterated by Barclays on Mar 4, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 4.50 from a previous price target of $4 .

On the company’s financial health, Bill Barrett Corporation reported $0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Mar 1, 2016. Analyst had a consensus of $-0.06. The company had revenue of $46.60 million for the quarter, compared to analysts expectations of $96.37 million. The company’s revenue was down -30.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.23 EPS.

Bill Barrett Corporation opened for trading at $8.84 and hit $9.38 on the upside on Wednesday, eventually ending the session at $9.35, with a gain of 7.72% or 0.67 points. The heightened volatility saw the trading volume jump to 19,70,717 shares. Company has a market cap of $466 M.

In a different news, on Feb 20, 2015, Robert William Howard (CFO and Treasurer) sold 12,060 shares at $12.64 per share price. According to the SEC, 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.

Bill Barrett Corporation

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