American International Group Inc. Sells 2,797 Shares of Bill Barrett Corporation (BBG)

American International Group Inc. Sells 2,797 Shares of Bill Barrett Corporation (BBG)

American International Group Inc. lowered its stake in Bill Barrett Corporation (NYSE:BBG) by 0.7% during the third quarter, Holdings Channel reports. The firm owned 390,141 shares of the energy company’s stock after selling 2,797 shares during the period. American International Group Inc. owned about 0.65% of Bill Barrett Corporation worth $2,169,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BBG. Wasatch Advisors Inc. increased its position in Bill Barrett Corporation by 52.5% in the third quarter. Wasatch Advisors Inc. now owns 1,915,451 shares of the energy company’s stock valued at $10,650,000 after buying an additional 659,607 shares in the last quarter. JPMorgan Chase & Co. increased its position in Bill Barrett Corporation by 0.7% in the third quarter. JPMorgan Chase & Co. now owns 4,796,655 shares of the energy company’s stock valued at $26,670,000 after buying an additional 34,905 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Bill Barrett Corporation by 7.2% in the second quarter. Public Employees Retirement System of Ohio now owns 22,400 shares of the energy company’s stock valued at $143,000 after buying an additional 1,498 shares in the last quarter. Bank of New York Mellon Corp increased its position in Bill Barrett Corporation by 15.0% in the third quarter. Bank of New York Mellon Corp now owns 2,123,168 shares of the energy company’s stock valued at $11,805,000 after buying an additional 276,911 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Bill Barrett Corporation by 711.5% in the second quarter. Tower Research Capital LLC TRC now owns 17,992 shares of the energy company’s stock valued at $115,000 after buying an additional 15,775 shares in the last quarter. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Shares of Bill Barrett Corporation (NYSE:BBG) traded down 3.67% during midday trading on Friday, hitting $7.08. The company had a trading volume of 1,338,568 shares. The company has a 50-day moving average of $7.20 and a 200 day moving average of $6.29. Bill Barrett Corporation has a 12 month low of $2.37 and a 12 month high of $9.38. The firm’s market capitalization is $416.74 million.

Bill Barrett Corporation (NYSE:BBG) last posted its earnings results on Thursday, November 3rd. The energy company reported ($0.10) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.04. Bill Barrett Corporation had a negative return on equity of 4.43% and a negative net margin of 81.86%. The company had revenue of $50.48 million for the quarter, compared to the consensus estimate of $62.91 million. During the same quarter in the previous year, the business earned ($0.09) earnings per share. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, analysts expect that Bill Barrett Corporation will post ($0.60) EPS for the current fiscal year.

Several research firms have recently weighed in on BBG. National Securities began coverage on Bill Barrett Corporation in a research report on Wednesday. They set a “buy” rating and a $9.00 target price on the stock. Canaccord Genuity reissued a “hold” rating and set a $8.00 target price on shares of Bill Barrett Corporation in a research report on Thursday, January 12th. BMO Capital Markets reissued a “hold” rating and set a $8.00 target price on shares of Bill Barrett Corporation in a research report on Wednesday, January 11th. Zacks Investment Research raised Bill Barrett Corporation from a “hold” rating to a “buy” rating and set a $7.50 target price on the stock in a research report on Monday, December 19th. Finally, Wunderlich downgraded Bill Barrett Corporation from a “buy” rating to a “hold” rating and cut their price objective for the company from $10.00 to $8.00 in a research report on Thursday, December 15th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $8.67.

About Bill Barrett Corporation

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.

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