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Callon Petroleum Company (CPE) [hlAlert]

Rating:
Buy CPE
down 49.79 %

Callon Petroleum Company (CPE) rated Buy with price target $10 by Stanford Research

Posted on: Monday,  Dec 1, 2008  9:25 AM ET by Stanford Research

Stanford Research rated Buy Callon Petroleum Company (NYSE: CPE) on 12/01/2008. Previously Stanford Research rated Buy Callon Petroleum Company (NYSE: CPE) on
03/10/2008., when the stock price was $17.13. Since then, Callon Petroleum Company has lost 49.80% as of 11/05/2015's recent price of $8.60.
If you would have followed the previous Stanford Research's recommendation on CPE, you would have lost 49.79% of your investment in 2796 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).

Stanford Research encompasses both institutional equity research and Washington-focused policy research, offering a perspective on individual companies, sector-specific topics and national policy. The importance Stanford Group Company places on research comes from years of experience in a constantly changing world. We know that as markets develop and new sectors grow, it is imperative that our clients have the most accurate information available to ensure financial success. Stanford Group Company clients will always have our commitment to conduct informative and enlightening research. As a part of our commitment to our clients, we provide objective, well-developed research. Our skilled analysts use their talent to provide invaluable research that can help in making important decisions. Thanks to a wide range of resources obtained through technology, experience and reputation, our research analysts develop reports on the most current firms and sectors. Our equity analysts offer insight and opinions on companies in the consumer/retail, media, energy, financial institutions, health care, technology and water/environment sectors.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
12/1/2008 9:25 AM Buy
None
2.40 10.00
as of 12/24/2008
1 Week down  -4.14 %
1 Month up  74.52 %
3 Months down  -17.04 %
1 YTD down  -89.67 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
5/9/2008 9:25 AM Buy
None
24.20 29.00
3/10/2008 11:25 AM Buy
None
17.13 23.00

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