Callon Petroleum Company Receives Consensus Recommendation of “Buy” from Brokerages (NYSE:CPE)

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Shares of Callon Petroleum Company (NYSE:CPE) have received a consensus recommendation of “Buy” from the seventeen analysts that are covering the stock, AnalystRatingsNetwork reports. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $10.95.

Shares of Callon Petroleum Company (NYSE:CPE) traded down 0.81% on Monday, hitting $11.08. 120,939 shares of the company’s stock traded hands. Callon Petroleum Company has a 52 week low of $3.91 and a 52 week high of $12.09. The stock has a 50-day moving average of $11.06 and a 200-day moving average of $8.75. The company has a market cap of $448.2 million and a P/E ratio of 1595.71. Callon Petroleum Company also was the target of a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 5,237,976 shares, an increase of 97.6% from the June 13th total of 2,650,279 shares. Based on an average daily volume of 1,474,267 shares, the days-to-cover ratio is presently 3.6 days. Approximately 13.5% of the company’s shares are short sold.

Callon Petroleum Company (NYSE:CPE) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.05 by $0.06. The company had revenue of $33.29 million for the quarter, compared to the consensus estimate of $28.47 million. The company’s quarterly revenue was up 47.7% on a year-over-year basis. Analysts expect that Callon Petroleum Company will post $0.58 EPS for the current fiscal year.

Several analysts have recently commented on the stock. Analysts at SunTrust raised their price target on shares of Callon Petroleum Company from $10.50 to $12.00 in a research note on Friday, July 11th. They now have a “neutral” rating on the stock. Separately, analysts at Canaccord Genuity initiated coverage on shares of Callon Petroleum Company in a research note on Tuesday, July 1st. They set a “buy” rating and a $14.00 price target on the stock. Finally, analysts at Maxim Group initiated coverage on shares of Callon Petroleum Company in a research note on Wednesday, June 11th. They set a “buy” rating and a $14.00 price target on the stock.

Callon Petroleum Company (NYSE:CPE) is an independent oil and natural gas company.

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