Capital One Southcoast Upgrades Callon Petroleum (CPE) to Neutral Following Recent Weakness
More News related to CPE
- Callon Petroleum Company Issues Guidance For Full Year 2009
- Callon Petroleum Company Reports Results of Operations For Third Quarter, First Nine Months of 2009
- Callon Petroleum Company Announces Third Quarter 2009 Reporting Date and Conference Call
- Callon Petroleum Company Completes Acquisition of West Texas Properties
- Callon Petroleum Company Commences Exchange Offer For Its 9.75% Senior Notes Due 2010
Capital One Southcoast upgrades Callon Petroleum (NYSE: CPE) from Reduce to Neutral. Price target lowered from $3 to $2.50.
Capital One analyst says, "We believe the pullback in the stock, along with CPE's oil exposure (65% of proved reserves and 50% of current production), point to an upgrade as the company should benefit from significantly increased cash flows due to the rise in oil prices. At the same time, we believe that the NEUTRAL rating is warranted based on the company's debt load and until we get more visibility that all the non-recourse debt related to Entrada has been fully removed from CPE's books."
To see more analyst ratings on CPE Click Here.
Callon Petroleum Company (Callon) is engaged in the exploration, development, acquisition and production of oil and gas properties.
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