Jefferies Bearish On BPZ Resources (BPZ)

Shares of BPZ Resources BPZ have been under severe pressure today, falling 12.15% to $5.28. The company reported an EPS loss of $0.02 compared to analysts' estimates of a break-even quarter. Jefferies has an Underperform rating on the stock. BPZ Resources, Inc. (BPZ) is an independent oil and gas company focused on the exploration, development and production of oil and natural gas in Peru and Ecuador. The Company has the exclusive rights and license agreements for oil and gas exploration and production covering approximately 2.2 million acres in four blocks in northwest Peru and off the northwest coast of Peru in the Gulf of Guayaquil.