Research analysts at Evercore ISI began coverage on shares of Callon Petroleum Co. (NYSE:CPE) in a research report issued to clients and investors on Wednesday, The Fly reports. The firm set a “buy” rating on the stock.
Several other analysts have also issued reports on the company. Zacks Investment Research lowered Callon Petroleum from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Roth Capital reaffirmed a “buy” rating on shares of Callon Petroleum in a research note on Tuesday, July 12th. Citigroup Inc. upped their target price on Callon Petroleum from $12.50 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, August 11th. RBC Capital Markets raised Callon Petroleum from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $15.00 to $18.00 in a research note on Thursday, September 8th. They noted that the move was a valuation call. Finally, Imperial Capital reaffirmed an “outperform” rating and issued a $16.00 target price (up previously from $14.00) on shares of Callon Petroleum in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $14.96.
Callon Petroleum (NYSE:CPE) opened at 13.55 on Wednesday. Callon Petroleum has a 52-week low of $4.21 and a 52-week high of $15.91. The company’s market capitalization is $1.78 billion. The company’s 50-day moving average is $14.34 and its 200-day moving average is $11.57.
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 Thomson Reuters’ consensus estimate of $0.04 by $0.65. The company earned $45.14 million during the quarter, compared to the consensus estimate of $47.75 million. Callon Petroleum had a positive return on equity of 3.77% and a negative net margin of 233.91%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.11) earnings per share. On average, analysts expect that Callon Petroleum will post $0.26 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of the stock. Virginia Retirement System acquired a new stake in Callon Petroleum during the first quarter valued at approximately $1,467,000. Teachers Advisors Inc. boosted its stake in Callon Petroleum by 14.7% in the first quarter. Teachers Advisors Inc. now owns 1,539,780 shares of the company’s stock valued at $13,627,000 after buying an additional 197,700 shares during the period. Franklin Resources Inc. boosted its stake in Callon Petroleum by 12.4% in the first quarter. Franklin Resources Inc. now owns 4,717,958 shares of the company’s stock valued at $41,754,000 after buying an additional 521,111 shares during the period. BlackRock Fund Advisors boosted its stake in Callon Petroleum by 17.1% in the first quarter. BlackRock Fund Advisors now owns 2,456,320 shares of the company’s stock valued at $21,738,000 after buying an additional 358,241 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Callon Petroleum by 25.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,389,730 shares of the company’s stock valued at $21,149,000 after buying an additional 485,848 shares during the period. Hedge funds and other institutional investors own 83.09% of the company’s stock.
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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