Great presentation this morn. exit 2015 with 10,000 barrels a day, super acreage,and Newberrys team mostly from marathon,,,, doesn't get much better then this ! Luck to all !
Sentiment: Strong Buy
Wow,,,,, Even with the offering,,,the strength here is great,,,, Very Nice ! Luck to all
You may be in for a surprise ! After many offerings the PPS goes down without the help of the market makers to keep the PPS above the selling discount price of the offering. Usually it's only a short term thing and the PPS does recover. The TRUE value of the PPS will be AFTER the offering is over and the stock is on its own to seek fair market value on normal trading volume. I manage to limit my loses my selling all my shares in aftermarket at a big lost then I got about half my shares back on the low end and i'am waiting to see what happens after the offering. If they go lower I most likely will buy more and hold the same amount I had before the offering. I really think this a stock with a GREAT one year chart in a great field to be in.
If you're looking for a stock still under the radar look at SPCB. I had had them for years and nobody followed them until this year when 2 analyst started estimating their numbers. Now the funds and institutions are getting on broad. I think it's still early. Good Luck!
16 buys (GMP & Cowen recently intiated coverage with Buy)
1 Hold (Global Hunter, but still with a PT of $14)
Average Price Target: $14.81
Sentiment: Strong Buy
today is 9.11 not 9.9 when it was announced. Here is another 9.9 news:
GMP Securities began coverage on shares of Callon Petroleum Company (NYSE:CPE) in a report released on Tuesday. The firm issued a buy rating and a $20.00 price objective on the stock.
NATCHEZ, Miss., Sept. 9, 2014 /PRNewswire/ -- Callon Petroleum Company (NYSE: CPE) ("Callon" or the "Company") announced today the pricing of an underwritten public offering of 12,500,000 shares of its common stock at a price to the public of $9.00 per share.
Not sure if the EIA inventory data leaked this morning but E&P stocks are seeing red across the board...except CPE that is up almost 3%.
Surprised to see issue at $9. I think it is too easy to claim that they should have done it at $12...first of all, the negative reaction could have been much worse. Second, the issuance HAD to be linked to a major acquisition. If not, it would have just come as extremely opportunistic.
The SA article is very well written. This deal is quite fantastic and the debt issuance means the firm is on a solid footing to develop it. Personally, I believe this firm has made a very nice transition from offshore to onshore. GLTA.