Callon Petroleum Co. (CPE) PT Raised to $18.00 at Imperial Capital
Callon Petroleum Co. (NYSE:CPE) had its target price raised by investment analysts at Imperial Capital from $16.00 to $18.00 in a report issued on Friday. The firm currently has an “outperform” rating on the stock. Imperial Capital’s price target would suggest a potential upside of 15.31% from the company’s previous close.
A number of other research analysts have also weighed in on CPE. US Capital Advisors restated a “buy” rating on shares of Callon Petroleum in a report on Monday, June 6th. Citigroup Inc. started coverage on Callon Petroleum in a report on Wednesday, June 29th. They issued a “neutral” rating and a $12.00 target price on the stock. Zacks Investment Research upgraded Callon Petroleum from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Wednesday, June 29th. KLR Group initiated coverage on Callon Petroleum in a report on Monday, July 11th. They issued a “buy” rating and a $17.00 target price on the stock. Finally, Roth Capital reiterated a “buy” rating on shares of Callon Petroleum in a report on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $15.25.
Shares of Callon Petroleum (NYSE:CPE) opened at 15.61 on Friday. The stock’s 50 day moving average price is $14.57 and its 200-day moving average price is $11.77. Callon Petroleum has a 52-week low of $4.21 and a 52-week high of $15.91. The company’s market capitalization is $2.05 billion.
Callon Petroleum (NYSE:CPE) last posted its earnings results on Monday, August 8th. The company reported ($0.61) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.65. Callon Petroleum had a negative net margin of 233.91% and a positive return on equity of 3.77%. The company earned $45.14 million during the quarter, compared to the consensus estimate of $47.75 million. During the same quarter in the prior year, the business earned ($0.11) EPS. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, equities analysts expect that Callon Petroleum will post $0.26 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of the company. Legal & General Group Plc boosted its position in Callon Petroleum by 13.1% in the first quarter. Legal & General Group Plc now owns 12,043 shares of the company’s stock valued at $106,000 after buying an additional 1,395 shares during the last quarter. US Bancorp DE boosted its position in Callon Petroleum by 40.4% in the second quarter. US Bancorp DE now owns 9,489 shares of the company’s stock valued at $107,000 after buying an additional 2,730 shares during the last quarter. Hsbc Holdings PLC acquired a new position in Callon Petroleum during the second quarter valued at approximately $115,000. Capital Fund Management S.A. acquired a new position in Callon Petroleum during the second quarter valued at approximately $116,000. Finally, Genesee Valley Trust Co. acquired a new position in Callon Petroleum during the second quarter valued at approximately $119,000. Institutional investors and hedge funds own 83.09% of the company’s stock.
Callon Petroleum Company Profile
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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