Bill Barrett -15% on weak output guidance, Global Hunter downgrade

Bill Barrett (BBG -15.5%) plunges after the oil and gas explorer updated its production forecast for 2014, which prompts a downgrade from Global Hunter.

BBG said it expects to produce 11M-12.2M boe this year, which falls below its estimated production of 14.5M boe for 2013, and forecast a 30% growth in 2014 oil production, below analyst estimates of 50% growth.

Global Hunter cuts shares to Neutral from Accumulate and lowers its price target to $30 from $35, believing BBG's current multiple is too rich given its oil growth rate; also, comparable alternatives oast a stronger growth profile and fund a larger proportion of capex with internally generated cash flow.

Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs