Capital One Financial upgraded shares of Callon Petroleum (NYSE:CPE) from an equal weight rating to an overweight rating in a report published on Wednesday, Marketbeat.com reports.

Several other brokerages have also weighed in on CPE. Oppenheimer began coverage on Callon Petroleum in a research report on Wednesday, October 3rd. They issued an outperform rating and a $16.00 target price on the stock. ValuEngine raised Callon Petroleum from a sell rating to a hold rating in a research report on Thursday, September 13th. TheStreet raised Callon Petroleum from a c+ rating to a b- rating in a research report on Monday, September 17th. Bank of America dropped their target price on Callon Petroleum from $19.00 to $16.00 and set a buy rating on the stock in a research report on Thursday, November 8th. Finally, Williams Capital began coverage on Callon Petroleum in a research report on Wednesday, October 24th. They issued a buy rating and a $16.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Callon Petroleum presently has a consensus rating of Buy and a consensus price target of $15.42.

NYSE:CPE traded down $0.09 during trading hours on Wednesday, hitting $8.49. 9,731,608 shares of the company’s stock traded hands, compared to its average volume of 7,955,614. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.46. Callon Petroleum has a twelve month low of $5.57 and a twelve month high of $14.65. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 0.22 and a beta of 1.32.

Callon Petroleum (NYSE:CPE) last issued its earnings results on Tuesday, November 6th. The oil and natural gas company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. Callon Petroleum had a return on equity of 8.31% and a net margin of 30.70%. The company had revenue of $161.21 million for the quarter, compared to analyst estimates of $145.66 million. During the same period in the prior year, the firm posted $0.09 EPS. The business’s revenue was up 90.5% compared to the same quarter last year. Equities analysts forecast that Callon Petroleum will post 0.88 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CPE. First Hawaiian Bank bought a new stake in shares of Callon Petroleum during the 3rd quarter worth about $107,000. Strs Ohio boosted its stake in shares of Callon Petroleum by 139.0% during the 3rd quarter. Strs Ohio now owns 9,800 shares of the oil and natural gas company’s stock worth $117,000 after acquiring an additional 5,700 shares in the last quarter. MML Investors Services LLC bought a new stake in shares of Callon Petroleum during the 3rd quarter worth about $144,000. HPM Partners LLC bought a new stake in shares of Callon Petroleum during the 2nd quarter worth about $161,000. Finally, Green Square Capital LLC bought a new stake in shares of Callon Petroleum during the 2nd quarter worth about $189,000.

Callon Petroleum Company Profile

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. As of December 31, 2017, its estimated net proved reserves totaled 137.0 million barrel of oil equivalent.

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Analyst Recommendations for Callon Petroleum (NYSE:CPE)

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