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Callon Petroleum Company (CPE) [hlAlert]

Rating:
Market Perform
CPE

Callon Petroleum Company (CPE) rated Market Perform with price target $2 by Howard Weil

Posted on: Thursday,  Jan 7, 2010  10:25 AM ET by Howard Weil

Howard Weil rated Market Perform Callon Petroleum Company (NYSE: CPE) on 01/07/2010. Previously Howard Weil rated Market Outperform
Callon Petroleum Company (NYSE: CPE) on 07/09/2008., when the stock price was $26.03. Since then, Callon Petroleum Company has lost 79.87% of its value until Howard Weil rated CPE Market Outperform on 11/18/2008, when the price was $5.24. .

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).

Howard Weil’s team of research professionals currently cover approximately 100 public energy companies, including major integrated oil companies, independent refiners, exploration and production companies, oilfield services companies, gas and power, coal producers and other energy companies. Our research analysts engage in ongoing dialogue with company management and constant internal analysis in order to give Howard Weil’s clients an in-depth understanding of the companies we cover, as well as current insights on the global energy marketplace.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
9/3/2014 9:25 AM Buy
None
10.60 20.00
as of 12/31/2010
1 Week up  19.12 %
1 Month up  18.91 %
3 Months up  23.07 %
1 YTD up  23.07 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
3/13/2014 9:25 AM Buy
None
7.99 11.00
9/9/2013 8:25 AM Buy
None
4.66 8.00
5/8/2012 9:25 AM Hold
None
5.16 8.00
2/3/2011 8:25 AM Buy
None
9.13 11.00
11/16/2010 10:25 AM Buy
None
5.72 7.00
1/7/2010 10:25 AM Hold
None
1.81 2.00
11/18/2008 11:25 AM Hold
None
5.24 13.00
7/9/2008 10:25 AM Buy
None
26.03

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