Callon Petroleum (CPE) to Offer 23M Shares of Common Stock
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Canaccord Genuity Raises Price Target on Callon Petroleum (CPE) Following Acquisition
September 8, 2016 9:53 AM EDTCanaccord Genuity reiterated a Buy rating on Callon Petroleum (NYSE: CPE), and raised the price target to $18.00 (from $15.00), following the company's acquisition of 5.7K net acres in northwest Howard.
Analyst Sam Burwell commented, "CPE is acquiring 5.7K net acres in northwest Howard, thus... More
Callon Petroleum (CPE) Prices Larger 26M Share Stock Offering for Proceeds of ~$379.6M
September 7, 2016 5:49 AM EDTCallon Petroleum Company (NYSE: CPE) announced that it has priced an upsized underwritten public offering of 26,000,000 shares of its common stock for total estimated gross proceeds (before the underwriter's discounts and commissions and estimated offering expenses) of $379.6 million. The underwriters will have an option to purchase up to an additional 3,900,000 shares of common stock from the Company.
Proceeds from the offering are expected to be used to fund... More
Callon Petroleum (CPE) to Acquire Properties in Howard County for $327M; Offers Operational Update
September 6, 2016 4:16 PM EDTCallon Petroleum Company (NYSE: CPE) today announced it has entered into a definitive agreement to acquire certain undeveloped acreage and producing oil and gas properties for total consideration of $327 million in cash. The Company intends to fund substantially all of the cash purchase price with the net proceeds of an equity offering announced concurrently with this announcement of the pending acquisition and any remaining amount with availability under its revolving credit facility.
Key attributes of the pending acquisition include:
Approximately 6,916... More
