Shares of Callon Petroleum Co. (NYSE:CPE) rose 3.9% on Tuesday . The stock traded as high as $13.23 and last traded at $12.90, with a volume of 3,756,373 shares changing hands. The stock had previously closed at $12.42.

CPE has been the topic of several research reports. Zacks Investment Research raised Callon Petroleum from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Monday, April 25th. Canaccord Genuity reiterated a “buy” rating on shares of Callon Petroleum in a report on Monday, April 25th. FBR & Co reiterated a “buy” rating on shares of Callon Petroleum in a report on Thursday, May 5th. Stephens reiterated a “buy” rating on shares of Callon Petroleum in a report on Thursday, April 21st. Finally, Wunderlich lowered their target price on shares of Callon Petroleum from $14.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, April 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $12.36.

The firm’s market capitalization is $1.56 billion. The stock’s 50 day moving average price is $11.47 and its 200 day moving average price is $9.59.

Callon Petroleum (NYSE:CPE) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.65. The firm had revenue of $45.14 million for the quarter, compared to analysts’ expectations of $47.75 million. The business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.11) EPS. On average, analysts forecast that Callon Petroleum Co. will post $0.16 earnings per share for the current year.

Other large investors have recently made changes to their positions in the company. UBS Oconnor LLC increased its stake in shares of Callon Petroleum by 1.8% in the fourth quarter. UBS Oconnor LLC now owns 875,419 shares of the company’s stock valued at $7,301,000 after buying an additional 15,273 shares during the period. California State Teachers Retirement System increased its stake in shares of Callon Petroleum by 23.8% in the fourth quarter. California State Teachers Retirement System now owns 148,473 shares of the company’s stock valued at $1,238,000 after buying an additional 28,568 shares during the period. Russell Frank Co increased its stake in shares of Callon Petroleum by 27.1% in the fourth quarter. Russell Frank Co now owns 421,568 shares of the company’s stock valued at $3,338,000 after buying an additional 89,846 shares during the period. Marshall Wace LLP increased its stake in shares of Callon Petroleum by 283.6% in the fourth quarter. Marshall Wace LLP now owns 175,728 shares of the company’s stock valued at $1,466,000 after buying an additional 129,923 shares during the period. Finally, New York State Common Retirement Fund increased its stake in shares of Callon Petroleum by 15.2% in the fourth quarter. New York State Common Retirement Fund now owns 1,129,085 shares of the company’s stock valued at $9,417,000 after buying an additional 148,980 shares during the period.

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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