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Callon Petroleum Company (CPE) [hlAlert]

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Callon Petroleum Company (CPE) rated Add with price target $6 by CapitalOne southcoast

Posted on: Tuesday,  Oct 26, 2010  10:25 AM ET by CapitalOne southcoast

CapitalOne southcoast rated Add Callon Petroleum Company (NYSE: CPE) on 10/26/2010. Previously CapitalOne southcoast
rated Add Callon Petroleum Company (NYSE: CPE) on 08/08/2008., when the stock price was $19.85. Since then, Callon Petroleum Company has lost 91.44% as of 06/29/2009's recent price of $1.70.

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).

Capital One Southcoast, Inc's research analysts provide comprehensive, ongoing research support. Our research analysts generate investment ideas for institutional clients across a broad range of industry sectors. Capital One Southcoast, Inc is a wholly-owned non-bank subsidiary of Capital One Financial Corporation. The securities sold, offered, or recommended by Capital One Southcoast, Inc are not insured by the FDIC, not bank guaranteed, and may lose value.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
10/26/2010 10:25 AM Hold
None
5.15 6.00
as of 12/31/2010
1 Week   
1 Month   
3 Months   
1 YTD   
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
6/29/2009 9:25 AM Hold
None
1.70
8/8/2008 9:25 AM None
None
19.85
5/16/2008 10:25 AM Buy
None
25.70

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