Altura reported first quarter financial and operating results slightly behind our estimates, though exiting the quarter with a stronger cash position on lower capital outlays. We have made no changes to our forward estimates at this juncture as Management reiterated a 7-well summer drilling program mainly focusing on its Klein North property, though testing some exploration concepts. We have reaffirmed our 12-month target price of $0.45 per share and Outperform ranking, noting a robust implied r ....
13 May 2016
Announces First Quarter 2016 Results
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Announces First Quarter 2016 Results
Altura reported first quarter financial and operating results slightly behind our estimates, though exiting the quarter with a stronger cash position on lower capital outlays. We have made no changes to our forward estimates at this juncture as Management reiterated a 7-well summer drilling program mainly focusing on its Klein North property, though testing some exploration concepts. We have reaffirmed our 12-month target price of $0.45 per share and Outperform ranking, noting a robust implied r ....