Bill Barrett Corporation (NYSE:BBG) has experienced a decrease in activity from the world’s largest hedge funds lately.
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Consequently, we’re going to take a look at the recent action surrounding Bill Barrett Corporation (NYSE:BBG).
Hedge fund activity in Bill Barrett Corporation (NYSE:BBG)
At the end of the first quarter, a total of 10 of the hedge funds we track were bullish in this stock, a change of -33% from the first quarter. With the smart money’s sentiment swirling, there exists a select group of noteworthy hedge fund managers who were increasing their stakes considerably.
When looking at the hedgies we track, Point State Capital, managed by Sean Cullinan, holds the biggest position in Bill Barrett Corporation (NYSE:BBG). Point State Capital has a $32.9 million position in the stock, comprising 0.5% of its 13F portfolio. The second largest stake is held by Steven Cohen of SAC Capital Advisors, with a $29.7 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Other peers that hold long positions include Israel Englander’s Millennium Management, Gregory Fraser, Rudolph Kluiber, and Timothy Krochuk’s GRT Capital Partners and Matthew Hulsizer’s PEAK6 Capital Management.
Seeing as Bill Barrett Corporation (NYSE:BBG) has witnessed falling interest from the aggregate hedge fund industry, logic holds that there lies a certain “tier” of funds that slashed their entire stakes at the end of the first quarter. Interestingly, Ken Griffin’s Citadel Investment Group dumped the largest investment of the 450+ funds we monitor, worth an estimated $20.1 million in stock., and Bruce J. Richards and Louis Hanover of Marathon Asset Management was right behind this move, as the fund cut about $19.3 million worth. These moves are intriguing to say the least, as aggregate hedge fund interest fell by 5 funds at the end of the first quarter.
Insider trading activity in Bill Barrett Corporation (NYSE:BBG)
Insider purchases made by high-level executives is at its handiest when the company we’re looking at has experienced transactions within the past six months. Over the latest half-year time period, Bill Barrett Corporation (NYSE:BBG) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
Let’s go over hedge fund and insider activity in other stocks similar to Bill Barrett Corporation (NYSE:BBG). These stocks are Crestwood Midstream Partners LP (NYSE:CMLP), Rex Energy Corporation (NASDAQ:REXX), W&T Offshore, Inc. (NYSE:WTI), Northern Oil & Gas, Inc. (NYSEAMEX:NOG), and Approach Resources Inc. (NASDAQ:AREX). This group of stocks are the members of the oil & gas drilling & exploration industry and their market caps match BBG’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Crestwood Midstream Partners LP (NYSE:CMLP) | 5 | 0 | 0 |
| Rex Energy Corporation (NASDAQ:REXX) | 8 | 1 | 1 |
| W&T Offshore, Inc. (NYSE:WTI) | 11 | 0 | 0 |
| Northern Oil & Gas, Inc. (NYSEAMEX:NOG) | 7 | 0 | 1 |
| Approach Resources Inc. (NASDAQ:AREX) | 4 | 0 | 0 |
With the returns exhibited by the aforementioned research, retail investors should always keep an eye on hedge fund and insider trading activity, and Bill Barrett Corporation (NYSE:BBG) is an important part of this process.
