[Zacks] BreitBurn Energy Partners, L.P. (NASDAQ:BBEP) (TREND ANALYSIS) which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #5 (Strong Sell) further confirms weakness in BBEP.
A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen 3 estimates moving down in the past 60 days, compared with no upward revisions. This trend has caused the consensus estimate to trend lower, going from a profit of 21 cents a unit two months ago to a current loss of 23 cents a unit.
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BreitBurn Energy Partners, L.P. (NASDAQ:BBEP) stock is currently trading 87.64% below its 52-week-high, 12.2% above its 52-week-low. The 1-year stock price history is in the range of $2.54 – $23.06. BreitBurn Energy Partners, L.P. (BBEP) has a price to earnings ratio of 3.41 versus Basic Materials sector average of 17.07. BBEP stock price has underperformed the Nasdaq by 63.1%. The Oil & Gas E&P company is currently valued at $0.6 billion and its share price closed the last trading session at $2.85. The stock has a 50-day moving average of $3.63 and a 200-day moving average of $5.68.
BreitBurn Energy Partners, L.P. (BBEP) current short interest stands at 8.46 million shares. It has increased by 3% from the same period of last month. Around 5% of the company’s shares, which are float, are short sold. With a 10-days average volume of 2.38 million shares, the number of days required to cover the short positions stand at 3.6 days.
BBEP reported last quarter earnings on August 06. The Oil & Gas E&P company announced earnings per share of $-1.04 against a consensus Street estimate of $-0.01, missing estimate by $1.03. This corresponds to a decrease of $0.19 compared to the same quarter of the previous fiscal year.
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There are currently seventeen analysts that cover BreitBurn Energy Partners, L.P. stock. Of those seventeen, two have a Buy rating, twelve have a Hold rating and three have a Sell rating. On a consensus basis this yields to a Hold rating. The consensus target price stands at $5.1.
A recent analyst activity consisted of UBS upgrading their Sell rating to Neutral on August 13. On the date of report, the stock closed at $2.85.
Credit Suisse reiterated their Underperform stance on August 11, and decreased their price target from $5 to $3. This corresponds to a 5.26% upside from the last closing price. On the date of report, the stock closed at $3.05.
Another research firm was Wunderlich who initiated their coverage on the stock with Hold rating on June 15. Wunderlich fixed their price target at $6. This translates to a 110.53% upside from the last closing price. On the date of report, the stock closed at $5.35.
BreitBurn Energy Partners L.P. engages in the acquisition, exploitation, and development of oil and gas properties in the United States. The company’s properties include natural gas, oil, and midstream assets comprising fields in the Antrim Shale in Michigan, and the New Albany Shale in Indiana and Kentucky; and fields in the Evanston and Green River basins in southwestern Wyoming, the Wind river and Big Horn basins in central Wyoming, the Powder River basin in eastern Wyoming, the Los Angeles basin in California, and fields in Florida’s Sunniland Trend. As of December 31, 2011, its total estimated proved reserves were 151.1 million barrels of oil equivalent. BreitBurn GP, LLC serves as the general partner to the company. BreitBurn Energy Partners L.P. was founded in 2006 and is headquartered in Los Angeles, California.