Callon Petroleum (CPE) PT Lowered to $16.00

Callon Petroleum (NYSE:CPE) had its target price decreased by Bank of America from $19.00 to $16.00 in a report issued on Thursday morning. Bank of America currently has a buy rating on the oil and natural gas company’s stock.

CPE has been the subject of a number of other reports. ValuEngine lowered Callon Petroleum from a hold rating to a sell rating in a report on Friday, September 7th. Williams Capital set a $16.00 price objective on Callon Petroleum and gave the stock a buy rating in a research report on Wednesday. Zacks Investment Research upgraded Callon Petroleum from a hold rating to a buy rating and set a $13.00 price objective on the stock in a research report on Tuesday, October 23rd. Stephens set a $20.00 price objective on Callon Petroleum and gave the stock a buy rating in a research report on Wednesday, July 25th. Finally, TheStreet upgraded Callon Petroleum from a c+ rating to a b- rating in a research report on Monday, September 17th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Callon Petroleum currently has an average rating of Buy and a consensus target price of $16.14.

Shares of Callon Petroleum stock traded down $0.15 during trading hours on Thursday, reaching $10.41. The company had a trading volume of 5,925,700 shares, compared to its average volume of 4,944,365. Callon Petroleum has a one year low of $9.23 and a one year high of $14.65. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.61 and a quick ratio of 2.61. The firm has a market capitalization of $2.36 billion, a P/E ratio of 24.79 and a beta of 1.06.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results on Tuesday, November 6th. The oil and natural gas company reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. Callon Petroleum had a return on equity of 8.60% and a net margin of 30.70%. The firm had revenue of $161.21 million during the quarter, compared to analyst estimates of $145.66 million. During the same period last year, the company earned $0.09 earnings per share. The business’s revenue for the quarter was up 90.5% on a year-over-year basis. Sell-side analysts expect that Callon Petroleum will post 0.86 earnings per share for the current fiscal year.

In other Callon Petroleum news, VP Mitzi P. Conn sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $11.76, for a total transaction of $176,400.00. Following the sale, the vice president now owns 42,062 shares in the company, valued at $494,649.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.82% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MHI Funds LLC raised its position in Callon Petroleum by 36.6% during the second quarter. MHI Funds LLC now owns 18,053 shares of the oil and natural gas company’s stock valued at $194,000 after purchasing an additional 4,837 shares in the last quarter. People s United Financial Inc. raised its position in Callon Petroleum by 8.1% during the second quarter. People s United Financial Inc. now owns 65,335 shares of the oil and natural gas company’s stock valued at $701,000 after purchasing an additional 4,882 shares in the last quarter. Liberty Mutual Group Asset Management Inc. raised its position in Callon Petroleum by 12.3% during the second quarter. Liberty Mutual Group Asset Management Inc. now owns 44,645 shares of the oil and natural gas company’s stock valued at $479,000 after purchasing an additional 4,893 shares in the last quarter. Strs Ohio raised its position in Callon Petroleum by 139.0% during the third quarter. Strs Ohio now owns 9,800 shares of the oil and natural gas company’s stock valued at $117,000 after purchasing an additional 5,700 shares in the last quarter. Finally, Arizona State Retirement System raised its position in Callon Petroleum by 3.8% during the third quarter. Arizona State Retirement System now owns 161,585 shares of the oil and natural gas company’s stock valued at $1,937,000 after purchasing an additional 5,931 shares in the last quarter.

Callon Petroleum Company Profile

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional onshore, oil, and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2017, its estimated net proved reserves totaled 137.0 million barrel of oil equivalent.

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