Oppenheimer Maintains an 'Outperform' on BreitBurn Energy Partners (BBEP); Oil Acquisitions Boost Outlook

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Oppenheimer maintains an 'Outperform' on BreitBurn Energy Partners (NASDAQ: BBEP) price target of $23.00.

Analyst, Daniel Katzenberg, said, "BBEP units have underperformed both the peer group and the S&P 500 YTD, due in our opinion, to two equity offerings that have overshadowed the company's strong growth outlook. BBEP has undergone an aggressive acquisition strategy in 2012, focusing on oil-weighted properties as it transitions into a more even oil/gas production mix. With the completion of its recent unit offering, we believe BBEP has sufficient liquidity to fund its drilling and acquisition program through the first half of 2013, and we would use the underperformance as a buying opportunity."

For an analyst ratings summary and ratings history on BreitBurn Energy Partners click here. For more ratings news on BreitBurn Energy Partners click here.

Shares of BreitBurn Energy Partners closed at $18.99 yesterday, with a 52 week range of $15.75-$20.19.

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