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

Sell CPE
down 77.56 %

Callon Petroleum Company (CPE) downgraded to Sell with price target $1.75 by Dahlman Rose

Posted on: Friday,  Nov 28, 2008  11:25 AM ET by Dahlman Rose

Dahlman Rose rated Sell Callon Petroleum Company (NYSE: CPE) on 11/28/2008. Previously Dahlman Rose rated Buy Callon Petroleum Company (NYSE: CPE) on
10/15/2008., when the stock price was $11.01. Since then, Callon Petroleum Company has lost 77.57% as of 11/28/2008's recent price of $2.47.
If you would have followed the previous Dahlman Rose's recommendation on CPE, you would have lost 77.56% of your investment in 44 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).

Since the Firm’s inception, the Dahlman Rose Research team has been dedicated to providing our institutional client base with differentiated research calls and actionable investment ideas.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
11/28/2008 11:25 AM Sell
2.47 1.75
as of 12/24/2008
1 Week up  4.14 %
1 Month up  158.11 %
3 Months down  -52.46 %
1 YTD down  -52.46 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
10/15/2008 9:25 AM Buy

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