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Gold/Mining/Energy : CPE: Callon Petroleum Company
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From: Hawkmoon2/11/2011 6:09:39 PM
   of 31
 
CPE priced it's offering at $7.75, and despite the day's manipulation, that's exactly where it closed.

After hours it briefly jumped to $8.10/share, but then they brought it down to $7.80.

They still have 1,350 million shares to offer in over-allotment, so there may be some churning until that happens..

But I think the stock put in a strong bottom here, if oil prices can hold and they don't disappoint on earnings.

It's still sitting at a P/E of 3 and that strikes me as making CPE a desk-thumping buy.. (and I don't say that very often)..

Hawk
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