Imperial Capital Starts Chaparral Energy (CHPE) at Outperform

Imperial Capital initiates coverage on Chaparral Energy (: CHPE) with a Outperform rating and a price target of $31.00.

Analyst Jason Wangler says the company is well-positioned in the STACK play and the improved balance enables incremental value creation activity. The analyst comments "CHPE has a sizable position in the black oil window of the STACK play of Oklahoma and with a strong balance sheet, joint ventures, and potential non-core asset divestitures, we believe the company can drive significant production and reserve growth from the STACK without adding incremental debt going forward. Further, while CHPE shares currently have minimal volume, we believe an uplisting could provide incremental volume and improved price discovery of the true value at the company and see this as a near-term catalyst."

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

Shares of Chaparral Energy closed at $23.74 yesterday.

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