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Callon Petroleum Company (CPE) [hlAlert]

Rating:
Neutral CPE

Callon Petroleum Company (CPE) rated Neutral by CapitalOne

Posted on: Tuesday,  Oct 22, 2013  9:25 AM ET by CapitalOne

CapitalOne rated Neutral Callon Petroleum Company (NYSE: CPE) on 10/22/2013. Previously CapitalOne rated Add
Callon Petroleum Company (NYSE: CPE) on 07/18/2013., when the stock price was $3.92. Since then, Callon Petroleum Company has gained 76.79% as of 10/22/2013's recent price of $6.93.

Callon Petroleum Company (Callon) is engaged in the exploration, development, acquisition and production of oil and gas properties. The Company?s properties are geographically concentrated primarily offshore in the Gulf Coast Region both onshore and offshore. As of December 31, 2008, Callon owned working interests in a total of 86 blocks/leases covering 193,000 net acres. As of December 31, 2008, the Company?s estimated net proved reserves totaled 54.8 billion cubic feet of natural gas equivalent (Bcfe) and included six million barrels of oil (MMBbls) and 18.7 billion cubic feet of natural gas (Bcf). Oil constitutes approximately 66% on an equivalent basis of its total estimated proved reserves and approximately 76% of its total estimated proved reserves are proved developed reserves. On April 8, 2008, the Company sold a 50% working interest in the Entrada field to CIECO Energy (US) Limited (CIECO).

CapitalOne
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
10/22/2013 9:25 AM Hold
None
6.93
as of 12/13/2013
1 Week   
1 Month   
3 Months   
1 YTD   
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
7/18/2013 9:25 AM None
None
3.92
5/13/2013 9:25 AM Hold
None
3.53

(*) Stock Price at the time of the recommendation.
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