RSP Permian, Callon Petroleum awarded Outperform ratings at Barclays

|About: Callon Petroleum Co. (CPE)|By:, SA News Editor

RSP Permian (RSPP -0.5%) and Callon Petroleum (CPE -0.7%) are initiated with Outperform ratings, with respective $44 and $16 stock price targets, at Barclays.

The firm likes RSPP's Silver Hill acquisition, as it marks the company's entrance into the Delaware Basin and provides scale in the Permian Basin, lengthening the inventory runway to ~3,700 estimated net drilling locations to maintain attractive production growth.

On CPE, Barclays notes the company has assembled 56K-plus net acres across four core areas in its Permian Basin that, setting up for attractive balance sheet adjusted growth during the next several years.