Callon Petroleum Co. (CPE) Coverage Initiated by Analysts at Evercore ISI
A number of other brokerages have also recently issued reports on CPE. Wunderlich raised their target price on Callon Petroleum from $17.00 to $18.00 and gave the stock a buy rating in a report on Wednesday, August 10th. Zacks Investment Research cut Callon Petroleum from a buy rating to a hold rating in a report on Monday, July 11th. BMO Capital Markets started coverage on Callon Petroleum in a report on Thursday, September 22nd. They set an outperform rating and a $20.00 target price on the stock. Citigroup Inc. started coverage on Callon Petroleum in a report on Wednesday, June 29th. They set a neutral rating and a $12.00 target price on the stock. Finally, Imperial Capital reiterated an outperform rating and set a $14.00 price objective on shares of Callon Petroleum in a report on Wednesday, June 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 issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $15.17.
Callon Petroleum (NYSE:CPE) traded up 2.52% during trading on Wednesday, reaching $15.03. The company had a trading volume of 1,211,133 shares. The company has a 50 day moving average price of $14.39 and a 200 day moving average price of $11.59. The company’s market capitalization is $1.97 billion. Callon Petroleum has a 52-week low of $4.21 and a 52-week high of $15.91.
Callon Petroleum (NYSE:CPE) last announced its quarterly earnings data on Monday, August 8th. The company reported ($0.61) EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.65. Callon Petroleum had a positive return on equity of 3.77% and a negative net margin of 233.91%. The firm earned $45.14 million during the quarter, compared to analyst estimates of $47.75 million. During the same quarter in the previous year, the business earned ($0.11) earnings per share. Callon Petroleum’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, equities analysts forecast that Callon Petroleum will post $0.26 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. raised its position in Callon Petroleum by 12.4% in the first quarter. Franklin Resources Inc. now owns 4,717,958 shares of the company’s stock worth $41,754,000 after buying an additional 521,111 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in Callon Petroleum by 38.6% in the second quarter. UBS Asset Management Americas Inc. now owns 1,050,110 shares of the company’s stock worth $11,792,000 after buying an additional 292,465 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Callon Petroleum by 48.8% in the first quarter. Goldman Sachs Group Inc. now owns 741,152 shares of the company’s stock worth $6,559,000 after buying an additional 243,128 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new position in Callon Petroleum during the first quarter worth $3,991,000. Finally, Renaissance Technologies LLC bought a new position in Callon Petroleum during the first quarter worth $756,000. 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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