Price Targets for Sweet 16

[dan_s]

Below are the current First Call 12-month price targets for the Sweet-16. They have all been adjusted to include 2nd quarter results.

$38.98 < BEXP
$105.56 < XEC
$75.29 < CLR
$43.91 < CRZO
$26.17 < DNR
$11.04 < FXEN
$30.50 < GEOI
$38.38 < GPOR
$9.91 < GTE
$23.33 < MIND
$19.55 < PetroBank (PBG.TO)
$42.59 < Petrominerales (PMG.TO)
$41.09 < PTEN
$47.39 < PXP
$63.53 < ROSE
$14.57 < TGA

I am updating the Sweet 16 forecast spreadsheet today. It will be posted to the website on Monday. The second tab includes my "Fair Value" estimate next to the current First Call price target for each company.

[dan_s]

I just double checked my forecast model for PTEN, raising Q3 EPS by 2 cents to $0.62 with CFPS of $1.61.

My Fair Value estimate for PTEN is $42/share.

IMO all of the onshore drillers on our Watch List are STRONG BUYS at their current prices, with PTEN my Top Pick.