According to Zacks, “Callon Petroleum Company has been engaged in the exploration, development, acquisition and production of oil and gas properties since 1950. “
CPE has been the subject of several other research reports. Evercore ISI started coverage on shares of Callon Petroleum in a report on Wednesday, September 28th. They issued a buy rating and a $20.00 price objective for the company. RBC Capital Markets raised shares of Callon Petroleum from a sector perform rating to an outperform rating and upped their price objective for the stock from $15.00 to $18.00 in a report on Thursday, September 8th. They noted that the move was a valuation call. KeyCorp upped their price objective on shares of Callon Petroleum from $14.00 to $16.00 and gave the stock an overweight rating in a report on Monday, August 22nd. KLR Group reaffirmed a buy rating and issued a $21.00 price objective (up previously from $18.00) on shares of Callon Petroleum in a report on Tuesday, September 13th. Finally, Mizuho started coverage on shares of Callon Petroleum in a report on Wednesday, October 5th. They issued a neutral rating and a $16.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $15.58.
Shares of Callon Petroleum (NYSE:CPE) traded down 0.88% during midday trading on Tuesday, hitting $15.70. 358,431 shares of the stock were exchanged. The stock’s 50-day moving average price is $14.85 and its 200 day moving average price is $12.06. The stock’s market cap is $2.06 billion. Callon Petroleum has a one year low of $4.21 and a one year high of $16.36.
Callon Petroleum (NYSE:CPE) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of $0.04 by $0.65. The company earned $45.14 million during the quarter, compared to analyst estimates of $47.75 million. Callon Petroleum had a positive return on equity of 3.77% and a negative net margin of 233.91%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.11) EPS. On average, analysts anticipate that Callon Petroleum will post $0.26 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in Callon Petroleum by 13.1% in the first quarter. Legal & General Group Plc now owns 12,043 shares of the company’s stock worth $106,000 after buying an additional 1,395 shares in the last quarter. US Bancorp DE increased its position in Callon Petroleum by 40.4% in the second quarter. US Bancorp DE now owns 9,489 shares of the company’s stock worth $107,000 after buying an additional 2,730 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Callon Petroleum during the second quarter worth approximately $115,000. Capital Fund Management S.A. purchased a new position in Callon Petroleum during the second quarter worth approximately $116,000. Finally, Genesee Valley Trust Co. purchased a new position in Callon Petroleum during the second quarter worth approximately $119,000. Hedge funds and other institutional investors own 83.09% of the company’s stock.
About Callon Petroleum
Callon Petroleum Company is an independent oil and natural gas company. The Company is engaged in the exploration, development, acquisition and production of oil and natural gas properties. It focuses on unconventional, onshore, oil and natural gas reserves in the Permian Basin in West Texas and the Midland Basin.
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