|Over a week ago|
Largest borrow rate increases among liquid names » 08:4506/0406/04/20
BILL, CRC, SAVE, CGC, PSTI, CPE, MAC, INSG, MARK, AVEO
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: Bill.com Holdings (BILL) 18.69% +3.19, California Resources (CRC) 113.02% +2.67, Spirit Airlines (SAVE) 5.87% +1.82, Canopy Growth (CGC) 63.43% +1.16, Pluristem (PSTI) 49.42% +0.53, Callon Petroleum (CPE) 3.86% +0.48, Macerich (MAC) 2.35% +0.42, Inseego (INSG) 13.90% +0.35, Remark Media (MARK) 77.30% +0.35, and AVEO Oncology (AVEO) 10.90% +0.28.
|Over a month ago|
Fly Intel: Top five analyst initiations » 10:0405/2805/28/20
FUN, SIX, SEAS, AXLA, CPE, THS, POL
Catch up on today's…
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Cedar Fair (FUN) was initiated with a Buy at Goldman Sachs, while SeaWorld (SEAS) was initiated with a Neutral, and Six Flags (SIX) was initiated with a Sell. 2. Axcella (AXLA) initiated with an Outperform at Wedbush. 3. Callon Petroleum (CPE) initiated with a Buy at MKM Partners. 4. TreeHouse (THS) initiated with a Buy at DA Davidson. 5. PolyOne (POL) initiated with an Overweight at Morgan Stanley. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
Callon Petroleum initiated with a Buy at MKM Partners » 07:3505/2805/28/20
MKM Partners analyst John…
MKM Partners analyst John Gerdes initiated coverage of Callon Petroleum with a Buy rating and $2.00 price target. The analyst says his Q2 production target of 106.4MBOE/D is in line with guidance of over 105MBOE/D, with gross oil production forecast for 2020 at 103.6MBOE/D integrating the production curtailments in April and May. Gerdes estimates however that with oil prices assumed to recover to $45 per barrel in 2021 from $33 in 2020, Callon should generate about $70M in free cash flow next year vs. expected negative $30M this year.
Callon Petroleum initiated with a Buy at MKM Partners » 16:2805/2705/27/20
MKM Partners analyst John…
MKM Partners analyst John Gerdes initiated coverage of Callon Petroleum with a Buy rating and $2.00 price target.
Callon Petroleum cut to Underperform, Ovintiv raised to Buy at BofA » 06:3605/1405/14/20
BofA analyst Asit Sen…
BofA analyst Asit Sen downgraded Callon Petroleum (CPE) to Underperform while upgrading Ovintiv (OVV) as part of a broader sector note. The analyst cites his "post-Q1" review that incorporates new company information on liquidity and maintenance covenants, giving preference to balance sheet resiliency and free cash profiles profiles which he expects to "define the relative investment cases and share price performance".
Callon Petroleum downgraded to Underperform from Neutral at BofA » 06:3005/1405/14/20
BofA analyst Asit Sen…
BofA analyst Asit Sen downgraded Callon Petroleum to Underperform from Neutral with a $0.55 price target.
Callon Petroleum announces actions in response to COVID-19 impact » 06:3105/1105/11/20
The company said,…
The company said, "In response to the recent commodity price collapse and the global impact of the novel coronavirus pandemic (COVID-19), Callon has taken a number of steps to ensure the safety of our team members, their families, and our service providers, as well as preserve the integrity and value of our business. Some of these recent actions include: Instituted updated safety procedures for all field employees and enhanced communication with our current vendors to ensure safe social distancing. Material reductions in general and administrative costs including: 35% compensation reduction for board members, 35% reduction in CEO target cash compensation, and at least 25% reduction in target cash compensation by all other officers. This is in addition to previously planned staff reductions and a suspension of hiring activity, contributing to an incremental 15% reduction from post-merger integration targets. The Company also announced today that it has further reduced activity, including the suspension of all completion activity in April and moving to one active drilling rig by mid-May. Callon currently forecasts total operational capital expenditures of approximately $250 - $325 million over the remaining three quarters of 2020, assuming resumption of completion activities in the second half of the year. The ultimate timing and level of activity will continue to be based on maximizing free cash flow in 2020 and 2021."
Callon Petroleum reports Q1 adj. EPS 12c, consensus 13c » 06:3005/1105/11/20
Reports Q1 revenue…
Reports Q1 revenue $289.92M, consensus $337.74M. Joe Gatto, President and CEO commented, "Beginning in early March, our team began taking decisive action to align our activity levels with the current economic environment. We also quickly moved to enhance our cash flow protection through strategic hedging initiatives which provide support as we transition the business to lower levels of activity. Additionally, the leadership team, along with our Board, has made the decision to pare costs through voluntary G&A reductions."
Callon Petroleum downgraded to Sell from Hold at Tudor Pickering » 08:2305/0405/04/20
Tudor Pickering analyst…
Tudor Pickering analyst Sameeer Panjwani downgraded Callon Petroleum to Sell from Hold.
Callon Petroleum downgraded to Hold from Buy at US Capital Advisors » 05:2104/2404/24/20
US Capital Advisors…
US Capital Advisors analyst Cameron Horwitz downgraded Callon Petroleum to Hold from Buy with a $3 price target.