Callon Petroleum Co. (CPE) Cut to Hold at Zacks Investment Research
According to Zacks, “Callon Petroleum Company has been engaged in the exploration, development, acquisition and production of oil and gas properties since 1950. “
Several other analysts have also recently commented on CPE. Roth Capital set a $16.00 target price on Callon Petroleum and gave the stock a buy rating in a report on Wednesday, September 7th. Citigroup Inc. raised their price target on Callon Petroleum from $12.50 to $14.00 and gave the company a neutral rating in a report on Thursday, August 11th. RBC Capital Markets upgraded Callon Petroleum from a sector perform rating to an outperform rating and raised their price target for the company from $15.00 to $18.00 in a report on Thursday, September 8th. They noted that the move was a valuation call. Imperial Capital reiterated an outperform rating and issued a $16.00 price target (up previously from $14.00) on shares of Callon Petroleum in a report on Wednesday, August 10th. Finally, Royal Bank Of Canada upgraded Callon Petroleum from a sector perform rating to an outperform rating and raised their price target for the company from $15.00 to $18.00 in a report on Thursday, September 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Callon Petroleum has an average rating of Buy and an average price target of $15.58.
Shares of Callon Petroleum (NYSE:CPE) opened at 15.42 on Tuesday. The firm’s 50-day moving average price is $14.93 and its 200 day moving average price is $12.11. The firm’s market cap is $2.02 billion. Callon Petroleum has a 12-month low of $4.21 and a 12-month high of $16.36.
Callon Petroleum (NYSE:CPE) last announced its earnings results on Monday, August 8th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of $0.04 by $0.65. The business had revenue of $45.14 million for the quarter, compared to the consensus estimate of $47.75 million. Callon Petroleum had a positive return on equity of 3.77% and a negative net margin of 233.91%. Callon Petroleum’s revenue for the quarter 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, equities analysts expect that Callon Petroleum will post $0.26 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. US Bancorp DE increased 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 worth $107,000 after buying an additional 2,730 shares in the last quarter. Hsbc Holdings PLC bought a new position in Callon Petroleum during the second quarter worth $115,000. BNP Paribas Arbitrage SA increased its position in Callon Petroleum by 119.1% in the third quarter. BNP Paribas Arbitrage SA now owns 10,301 shares of the company’s stock worth $162,000 after buying an additional 5,600 shares in the last quarter. Capital Fund Management S.A. acquired a new position in shares of Callon Petroleum during the second quarter valued at approximately $116,000. Finally, Genesee Valley Trust Co. acquired a new position in shares of Callon Petroleum during the second quarter valued at approximately $119,000. Hedge funds and other institutional investors own 83.09% of the company’s stock.
About Callon Petroleum
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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