Shares of Callon Petroleum Company (NYSE:CPE) have received an average rating of “Buy” from the twenty-eight analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and twenty-three have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $17.50.
Several research firms have weighed in on CPE. BMO Capital Markets set a $15.00 price target on Callon Petroleum and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Zacks Investment Research upgraded Callon Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Jefferies Group LLC began coverage on Callon Petroleum in a research note on Monday, October 9th. They issued a “buy” rating and a $16.00 price target for the company. Northland Securities restated a “buy” rating and issued a $18.00 price target on shares of Callon Petroleum in a research note on Wednesday, November 1st. Finally, Bank of America Corporation began coverage on Callon Petroleum in a research note on Monday, October 16th. They issued a “buy” rating for the company.
A number of large investors have recently added to or reduced their stakes in CPE. Legal & General Group Plc raised its holdings in Callon Petroleum by 25.0% during the 1st quarter. Legal & General Group Plc now owns 68,172 shares of the oil and natural gas company’s stock valued at $892,000 after buying an additional 13,643 shares during the period. BlackRock Inc. raised its holdings in Callon Petroleum by 96,684.2% during the 1st quarter. BlackRock Inc. now owns 12,101,893 shares of the oil and natural gas company’s stock valued at $159,259,000 after buying an additional 12,089,389 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Callon Petroleum by 24.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 833,642 shares of the oil and natural gas company’s stock valued at $10,971,000 after buying an additional 163,233 shares during the period. Paloma Partners Management Co purchased a new stake in Callon Petroleum in the first quarter worth $208,000. Finally, Metropolitan Life Insurance Co. NY increased its stake in Callon Petroleum by 24.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 128,246 shares of the oil and natural gas company’s stock worth $1,688,000 after purchasing an additional 25,007 shares during the period.
Shares of Callon Petroleum (NYSE CPE) traded up $0.32 during trading hours on Friday, hitting $10.64. The company had a trading volume of 3,062,228 shares, compared to its average volume of 4,997,809. The company has a market cap of $2,048.64, a P/E ratio of 28.19 and a beta of 1.38. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.32. Callon Petroleum has a 52 week low of $9.34 and a 52 week high of $18.53.
Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.01). Callon Petroleum had a return on equity of 4.05% and a net margin of 30.20%. The business had revenue of $84.60 million during the quarter, compared to the consensus estimate of $81.98 million. During the same quarter in the previous year, the company earned $0.09 earnings per share. The company’s revenue for the quarter was up 51.3% compared to the same quarter last year. research analysts predict that Callon Petroleum will post 0.4 EPS for the current year.
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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. The Company focuses on the acquisition and development of unconventional oil and natural gas reserves in the Permian Basin.
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