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Callon Petroleum Company (CPE) [hlAlert]

Rating:
Hold CPE
down 26.46 %

Callon Petroleum Company (CPE) downgraded to Hold with price target $6 by Maxim Group

Posted on: Monday,  Dec 1, 2014  8:25 AM ET by Maxim Group

Maxim Group rated Hold Callon Petroleum Company (NYSE: CPE) on 12/01/2014. Previously Maxim Group rated Buy Callon Petroleum Company (NYSE: CPE) on
10/22/2014., when the stock price was $6.31. Since then, Callon Petroleum Company has lost 26.47% as of 12/01/2014's recent price of $4.64.
If you would have followed the previous Maxim Group's recommendation on CPE, you would have lost 26.46% of your investment in 40 days.

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).

At Maxim Group, our vision for equity research is to be a client’s first call for value-added research on companies not widely followed by Wall Street. Maxim’s premier niche is emerging-growth companies in a variety of sectors, including healthcare, technology, retail and others. As strong believers in fundamental research, our analysts utilize a “bottom up” approach to making investment recommendations. We combine rigorous financial analysis of specific companies and industries with due diligence that includes frequent consults with suppliers, customers, competitors and senior management. By applying these skills and techniques, we are able to offer our clients differentiated research.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
12/1/2014 8:25 AM Hold
None
4.64 6.00
as of 10/17/2014
1 Week down  -11.06 %
1 Month down  -37.36 %
3 Months down  -44.95 %
1 YTD down  -41.49 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
10/22/2014 9:25 AM Buy
None
6.31 12.00
9/5/2014 9:25 AM Buy
None
10.17 16.00
9/4/2014 2:25 PM Buy
None
10.35 16.00
6/11/2014 12:00 AM Buy
None
10.96 14.00

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