Exploration and production names rocketed higher in November, but is the news as good as the stock advances suggest?
Callon (CPE) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Moody's Investors Service ("Moody's") downgraded Callon Petroleum Company's (Callon) Probability of Default Rating (PDR) to Caa1-PD/LD from B3-PD, Corporate Family Rating (CFR) to Caa1 from B3, and ratings on its senior unsecured notes to Caa2 from Caa1. The limited default (LD) designation was appended to the PDR following the exchange of senior unsecured notes for new 9.0% senior secured second lien notes due 2025. "Callon Petroleum's asset monetization transactions and debt exchanges have reduced its debt principal," stated James Wilkins, Moody's Vice President.