Callon Petroleum Co. (NYSE:CPE)’s share price rose 1.6% on Thursday . The company traded as high as $14.52 and last traded at $14.36, with a volume of 2,090,562 shares traded. The stock had previously closed at $14.14.

CPE has been the topic of a number of recent analyst reports. Scotiabank reaffirmed a “focus stock” rating on shares of Callon Petroleum in a research note on Monday, May 16th. Zacks Investment Research raised shares of Callon Petroleum from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Wednesday, June 29th. Imperial Capital reissued an “outperform” rating and issued a $14.00 target price on shares of Callon Petroleum in a research note on Wednesday, June 8th. Credit Suisse Group AG assumed coverage on shares of Callon Petroleum in a research note on Tuesday, May 24th. They issued an “outperform” rating and a $14.00 target price on the stock. Finally, Wunderlich raised their target price on shares of Callon Petroleum from $12.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, May 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $13.50.

The stock has a 50-day moving average price of $12.35 and a 200-day moving average price of $10.24. The firm’s market cap is $1.89 billion.

Callon Petroleum (NYSE:CPE) last issued its quarterly earnings results on Monday, August 8th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.65. The company had revenue of $45.14 million for the quarter, compared to analyst estimates of $47.75 million. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.11) EPS. Analysts anticipate that Callon Petroleum Co. will post $0.23 earnings per share for the current year.

A number of hedge funds and institutional investors have added to or reduced their stakes in CPE. Schwab Charles Investment Management Inc. increased its position in Callon Petroleum by 22.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 147,300 shares of the company’s stock worth $1,229,000 after buying an additional 26,700 shares during the last quarter. 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 worth $1,466,000 after buying an additional 129,923 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Callon Petroleum by 324.4% in the fourth quarter. Wells Fargo & Company MN now owns 1,115,392 shares of the company’s stock worth $9,302,000 after buying an additional 852,602 shares in the last quarter.

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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