Current CPE Stock Info

An Exclusive Interview with CPE’s CEO Fred Callon
Callon Petroleum (ticker: CPE) became a pure-play Permian Basin E&P no more than one year ago, but its efficiency in the United States’ greatest oil producing play is apparent. In a news release on February 5, 2015, CPE projects 2015 production to range from 8.0 to 8.4 MBOEPD, an increase of 45% compared to 2014 guidance of 5.6 to 5.7 MBOEPD. The company projects Q4’14 volumes at 7.2 to 7.3 MBOEPD, and expects rates to be 15% higher by Q4’15.

Total proved reserves also more than doubled ...

Analyst Commentary

SunTrust Robinson Humphrey (2.5.15)

We are raising our estimates and target in response to the information Callon put out earlier this morning. We boost 2015 capital spending, production and CFPS estimates from $150 million, 7.9 Mboepd and $0.98 to $160 million, 8.2 Mboepd and $1.17, respectively. These positive changes roll forward and cause 2016E CFPS to rise from $1.19 to $1.40 and 2016E net debt/TTM EBITDA to decline from 5.0x to 4.4x. We boost our target from $5 to $7 and raise our 2016 CFPS target multiple from 4.0x to 4.75x on one part better balance sheet and two parts industry-wide multiple expansion. Reiterate Neutral.  

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