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BreitBurn Energy Partners (BBEP) Continues Strong Six-Month Gain
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Posted on 02/08/10 at 3:05pm by N.J. Beachum
BreitBart Energy Partners LP (NASDAQ: BBEP), an oil and gas exploitation and distribution company, is up 12.51% so far today in training, to 15.02 - above its 52-week high of 14.99.
This increase is a 270% gain over the 52-week low of 5.53 and is a massive rebound from Thursday's drop. BBEP's growth comes after the company reported a dismal 3Q09 earnings report. Investors are awaiting the 4Q09 earnings report release, but expectations are that it will be substantially higher than last quarter's results. This optimism, along with a projection that the global oil supply will tighten through 2010, is likely the impetus behind the price increase.
BBEP currently holds a consensus 'Hold' recommendation at CNBC.com.
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