Callon Petroleum (NYSE:CPE) Shares Gap Up to $6.16

Shares of Callon Petroleum (NYSE:CPE) gapped up prior to trading on Tuesday . The stock had previously closed at $6.02, but opened at $6.16. Callon Petroleum shares last traded at $6.33, with a volume of 4616252 shares changing hands.

A number of analysts have recently commented on the company. Imperial Capital restated an “outperform” rating and issued a $15.00 price objective (up from $12.00) on shares of Callon Petroleum in a research report on Wednesday, February 13th. Williams Capital restated a “buy” rating and issued a $12.00 price objective on shares of Callon Petroleum in a research report on Tuesday, April 9th. Zacks Investment Research upgraded Callon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Monday, March 18th. Morgan Stanley assumed coverage on Callon Petroleum in a research report on Thursday, March 21st. They issued an “equal weight” rating and a $9.00 price objective for the company. Finally, SunTrust Banks set a $12.00 price objective on Callon Petroleum and gave the company a “buy” rating in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $13.63.

The company has a debt-to-equity ratio of 0.55, a current ratio of 0.53 and a quick ratio of 0.53. The company has a market capitalization of $1.43 billion, a PE ratio of 7.72, a P/E/G ratio of 0.64 and a beta of 1.54.

Callon Petroleum (NYSE:CPE) last issued its quarterly earnings results on Monday, May 6th. The oil and natural gas company reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.01. The firm had revenue of $153.05 million for the quarter, compared to analyst estimates of $144.68 million. Callon Petroleum had a return on equity of 7.55% and a net margin of 36.70%. The business’s revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 earnings per share. As a group, research analysts predict that Callon Petroleum will post 0.9 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Callon Petroleum by 5.2% during the fourth quarter. BlackRock Inc. now owns 26,888,623 shares of the oil and natural gas company’s stock worth $174,508,000 after buying an additional 1,326,915 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Callon Petroleum by 5.9% during the first quarter. Dimensional Fund Advisors LP now owns 18,871,804 shares of the oil and natural gas company’s stock worth $142,484,000 after buying an additional 1,050,335 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Callon Petroleum by 208.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 7,823,096 shares of the oil and natural gas company’s stock worth $50,772,000 after buying an additional 5,285,401 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Callon Petroleum by 25.4% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,264,141 shares of the oil and natural gas company’s stock worth $40,655,000 after buying an additional 1,268,538 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Callon Petroleum by 1.3% during the first quarter. Northern Trust Corp now owns 6,047,909 shares of the oil and natural gas company’s stock worth $45,662,000 after buying an additional 80,189 shares during the last quarter.

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Callon Petroleum Company Profile (NYSE:CPE)

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 and southeastern New Mexico. As of December 31, 2018, its estimated net proved reserves totaled 238.5 million barrel of oil equivalent, including 180.1 MMBbls of oil and 350.5 Bcf of natural gas.

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