Zacks Investment Research upgraded shares of Callon Petroleum Co. (NYSE:CPE) from a hold rating to a buy rating in a research report sent to investors on Tuesday. They currently have $17.00 target price on the stock.
According to Zacks, “Callon Petroleum Company has been engaged in the exploration, development, acquisition and production of oil and gas properties since 1950. “
Several other equities analysts also recently commented on CPE. Roth Capital reiterated a buy rating on shares of Callon Petroleum in a report on Tuesday, July 12th. Citigroup Inc. increased their price target on Callon Petroleum from $12.50 to $14.00 and gave the company a neutral rating in a report on Thursday, August 11th. RBC Capital Markets upgraded Callon Petroleum from a sector perform rating to an outperform rating and increased their price target for the company from $15.00 to $18.00 in a report on Thursday, September 8th. They noted that the move was a valuation call. Imperial Capital reiterated an outperform rating and set a $16.00 price target (up previously from $14.00) on shares of Callon Petroleum in a report on Wednesday, August 10th. Finally, FBR & Co increased their price target on Callon Petroleum from $17.00 to $19.00 and gave the company an outperform rating in a report on Friday, September 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $15.36.
Callon Petroleum (NYSE:CPE) traded up 0.26% during mid-day trading on Tuesday, reaching $15.69. 413,057 shares of the company’s stock traded hands. The stock’s market capitalization is $2.06 billion. The firm’s 50-day moving average price is $14.71 and its 200 day moving average price is $11.88. Callon Petroleum has a 12 month low of $4.21 and a 12 month high of $16.03.
Callon Petroleum (NYSE:CPE) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by $0.65. Callon Petroleum had a positive return on equity of 3.77% and a negative net margin of 233.91%. The firm earned $45.14 million during the quarter, compared to analyst estimates of $47.75 million. During the same quarter in the prior year, the company posted ($0.11) EPS. The company’s quarterly revenue was up 15.0% on a year-over-year basis. Equities research analysts predict that Callon Petroleum will post $0.26 EPS for the current year.
Several large investors have recently added to or reduced their stakes in CPE. Silvercrest Asset Management Group LLC bought a new stake in Callon Petroleum during the second quarter worth $32,029,000. Copper Rock Capital Partners LLC acquired a new position in shares of Callon Petroleum during the third quarter worth about $27,330,000. State Street Corp increased its position in shares of Callon Petroleum by 53.3% in the second quarter. State Street Corp now owns 4,492,291 shares of the company’s stock worth $50,443,000 after buying an additional 1,561,776 shares in the last quarter. Teachers Advisors Inc. increased its position in shares of Callon Petroleum by 100.9% in the second quarter. Teachers Advisors Inc. now owns 3,093,435 shares of the company’s stock worth $34,739,000 after buying an additional 1,553,655 shares in the last quarter. Finally, FMR LLC increased its position in shares of Callon Petroleum by 23.0% in the second quarter. FMR LLC now owns 6,460,630 shares of the company’s stock worth $72,553,000 after buying an additional 1,209,080 shares in the last quarter. 83.09% of the stock is owned by institutional investors.
Callon Petroleum Company Profile
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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