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Enter Symbol:
 
Callon Petroleum Company (CPE) [hlAlert]

Rating:
Underperform
CPE
down 66.27 %

Callon Petroleum Company (CPE) rated Underperform with price target $3 by Jefferies & Co

Posted on: Friday,  Nov 28, 2008  8:25 AM ET by Jefferies & Co

Jefferies & Co rated Underperform Callon Petroleum Company (NYSE: CPE) on 11/28/2008, when the stock price was $2.90.
Since then, Callon Petroleum Company has gained 196.55% as of 11/05/2015's recent price of $8.60.
If you would have followed this Jefferies & Co's recommendation on CPE, you would have lost 66.27% of your investment in 2533 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).

Our focus on growing and mid-sized companies enables us to identify unique investment ideas, which can make the difference in a tough market. Jefferies' research effort covers U.S. & International equity, high yield, convertibles, investment grade fixed income and post-reorganization securities, as well as special situations and quantitative research. The more than 120-person team of research professionals covers over 1,200 companies in more than 40 industries worldwide. Our analysts focus on identifying emerging industry themes and dig deeper to provide in-depth, thought provoking, objective research. Our analysts use a variety of quantitative and qualitative tools, integrating field analysis, proprietary channel checks and ongoing dialogue with the managements of the companies they cover. We utilize the latest technologies to deliver a research product that is timely, differentiated, and tailored to each customer's needs. Regular client access to companies and their management teams is provided through a wide variety of Jefferies hosted industry conferences, company management meetings and on-site tours.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
11/28/2008 8:25 AM Sell
None
2.90 3.00
as of 12/24/2008
1 Week up  4.14 %
1 Month up  36.20 %
3 Months   
1 YTD up  36.20 %

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