Wells Fargo Starts Midstates Petroleum (MPO) at Outperform; Attractive Cost Structure And Cash Margins Best in Show

Wells Fargo initiates coverage on Midstates Petroleum (NYSE: MPO) with an Outperform. PT range $20-22.

Analyst, David Tameron, said, "Midstates offers concentrated exposure to crude oil production from low-risk conventional development opportunities complemented by exploration upside potential. With a solid management team, deep portfolio, and rapid growth in crude production we expect shares to outperform peers...Our initial EPS estimates for 2012 and 2013 are $1.54 and $2.59, respectively."

For an analyst ratings summary and ratings history on Midstates Petroleum click here. For more ratings news on Midstates Petroleum click here.

Shares of Midstates Petroleum closed at $14.92 yesterday.

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