Brigham Exploration Company (BEXP) – of which  engages in the exploration, development, and production of oil and natural gas in the United States. The company owns property interests in the Onshore Gulf Coast consisting of the Vicksburg trend in Brooks County, Texas. Frio trend in and around Matagorda County, Texas. (BEXP) also has joint venture interests in southern Louisiana. Brigham Exploration also holds interests in Hunton Trend and Granite Wash Trend in the Anadarko Basin,Powder River Basin and Williston Basin in the Rocky Mountains. As of December 31, 2010, it had approximately 600,601 gross and 364,309 net leasehold acres in the Williston Basin. As of December 31, 2010, it proved reserves totaled 66.8 million barrels of oil equivalent. Approximately 78% of its proved reserves are crude oil and it operates approximately 81% of its proved reserves.

Brigham Exploration Company (BEXP) of which closed on Friday 9/2/2011 at $27.92 is currently a vary undervalued stock in my opinion.  With (BEXP) 52 week high at $37.87 there is $10.00 upside potential. Not to mention on Thursday Raymond James (RJF) upgraded from outperform to “Strong Buy”. Price targets have been ranging anywhere from $35.00-$41.00. The fact is currently (BEXP) is trading $2.00 under its  50-day moving average is $29.61 and $2.50 under 200-day moving average of $31.07.

Lastly back on August 8th, Brigham Exploration reported $0.60 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.29 EPS by $0.31. Revenue soared 120.5% on a year-over-year basis.
Currently I am announcing a PoulTrend Alert as of 9/2/2011 at $29.50.  My Price target is at $37.00, and I could easily see this being eclipsed in the next 2 months. I currently have (BEXP) rated at a BUY BUY BUY,HOLD HOLD HOLD, and I am LONG (BEXP)

Disclosure- Currently I hold no positions in Brigham Exploration (BEXP), however plan to initiate a position in the next 72 hours.

  1. John says:

    Could be a steal

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