Strong Third Quarter Financial Results Send Bill Barrett Corporation Higher

On October 31, Bill Barrett Corporation (BBG) reported its third quarter financial results and updated guidance for the remainder of 2017. Although the company had a net loss of $28.8 million for the quarter, they highlighted their 26% sequential production growth. They expect production growth of 20% in 2017 compared to 2016 and another 30% growth in production during 2018.

 

Sonal caught the news and issued an alert at 4:04 pm on October 31. The next trade was at 4:05 pm in after-market trading hours for $4.93. The market opened for regular trading again on November 1 at $5.11.

The stock price rose throughout the day before closing at $5.99. That marks a daily gain of over 20% following the event. The trend continued to push the stock price higher over the next few trading sessions. The stock closed at $6.50 on November 8, which was a gain of over 31% after 6 trading sessions.

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