UPDATE - Global Hunter Securities Initiates Coverage on Bill Barrett Corp (BBG) with an Accumulate; Rockies Leader
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Price: $4.84 --0%
Rating Summary:
5 Buy, 15 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
5 Buy, 15 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UPDATE - Global Hunter Securities initiates coverage on Bill Barrett Corp (NYSE: BBG) with an Accumulate rating. PT $59.
Globlal analyst said, "For several years, Bill Barrett was viewed as one of the pure play Rockies natural gas stories generating polarizing sentiment among investors. With a renaissance in the Rockies focused on unconventional oil and liquids rich reservoirs, BBG finds itself deep in the middle of many of the emerging plays including the Niobrara, Mancos, Parkman/Sussex, and Mowry although we do not provide any asset value at this time. The heart of the company currently lies in the Piceance and Uinta Basins where the company has an inventory of over 2,000 drilling locations that include natural gas, NGLs, and oil. Just modeling these known plays provides lift to the overall valuation of the company, in our view. We believe any additional success would boost inventory and provide additional value drivers."
Globlal analyst said, "For several years, Bill Barrett was viewed as one of the pure play Rockies natural gas stories generating polarizing sentiment among investors. With a renaissance in the Rockies focused on unconventional oil and liquids rich reservoirs, BBG finds itself deep in the middle of many of the emerging plays including the Niobrara, Mancos, Parkman/Sussex, and Mowry although we do not provide any asset value at this time. The heart of the company currently lies in the Piceance and Uinta Basins where the company has an inventory of over 2,000 drilling locations that include natural gas, NGLs, and oil. Just modeling these known plays provides lift to the overall valuation of the company, in our view. We believe any additional success would boost inventory and provide additional value drivers."
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