Roth Capital Downgrades Clayton Williams Energy (CWEI) to Sell

Roth Capital downgraded Clayton Williams Energy (NYSE: CWEI) from Neutral to Sell with a price target of $40.00 (from $36.00).

Analyst John White commented, "Our net asset value and target price are based on proved and probable reserves, financial position, historical and expected drilling and completion results. CWEI recently posted 3Q 2015 production results slightly higher than our expectations, therefore, we are increasing our price target from $36 to $40. However, our price target is 32% lower than where the shares closed on 11/13/2015, which prompts us to change our rating from Neutral to Sell."

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

Shares of Clayton Williams Energy closed at $58.71 yesterday.

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