McNicoll Lewis & Vlak Initiates Coverage on Breitburn Energy (BBEP)

By admin | 6 years ago

Equities researchers at McNicoll Lewis & Vlak began coverage on shares of Breitburn Energy (NASDAQ: BBEP) in a report issued on Tuesday. The firm set a “buy” rating on the stock.

Breitburn Energy traded down 1.34% on Tuesday, hitting $16.595. Breitburn Energy has a 52-week low of $15.00 and a 52-week high of $20.97. The company has a market cap of $1.147 billion and a price-to-earnings ratio of 6.94.

Breitburn Energy last posted its quarterly earnings results on Monday, May 7th. The company reported ($0.76) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.24 by $1.00. The company’s quarterly revenue was up 1.5% on a year-over-year basis. Analysts expect that Breitburn Energy will post $0.20 EPS next quarter.

A number of other analysts have also recently weighed in on BBEP. Analysts at MLV & Co initiated coverage on shares of Breitburn Energy in a research note to investors on Tuesday. They set a “buy” rating and a $20.00 price target on the stock. Separately, analysts at Citigroup (NYSE: C) raised their price target on shares of Breitburn Energy from $26.00 to $27.00 in a research note to investors on Monday, May 14th. Finally, analysts at Global Hunter Securities initiated coverage on shares of Breitburn Energy in a research note to investors on Tuesday, April 17th. They set a “buy” rating and a $22.00 price target on the stock.

BreitBurn Energy Partners L.P. is an independent oil and gas partnership focused on the acquisition, exploitation and development of oil and gas properties in the United States.

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