Callon Petroleum Co. (CPE) Given New $18.00 Price Target at Imperial Capital
Callon Petroleum Co. (NYSE:CPE) had its price objective increased by stock 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 objective would suggest a potential upside of 20.16% from the company’s current price.
Other equities research analysts also recently issued research reports about the company. Citigroup Inc. increased their target price on Callon Petroleum from $12.50 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, August 11th. Canaccord Genuity increased their target price on Callon Petroleum from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, September 8th. FBR & Co increased their target price on Callon Petroleum from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 10th. Evercore ISI initiated coverage on Callon Petroleum in a research report on Wednesday. They set a “buy” rating and a $20.00 target price on the stock. Finally, 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 research report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $15.25.
Callon Petroleum (NYSE:CPE) opened at 14.98 on Friday. Callon Petroleum has a 1-year low of $4.21 and a 1-year high of $15.91. The firm has a 50-day moving average price of $14.45 and a 200-day moving average price of $11.62. The company’s market capitalization is $1.96 billion.
Callon Petroleum (NYSE:CPE) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.61) EPS for the quarter, missing the 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 firm earned $45.14 million during the quarter, compared to analysts’ expectations of $47.75 million. During the same quarter in the previous year, the company posted ($0.11) EPS. Callon Petroleum’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, analysts forecast that Callon Petroleum will post $0.26 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in CPE. US Bancorp DE raised 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 purchased a new stake in shares of Callon Petroleum during the second quarter valued at $115,000. Capital Fund Management S.A. purchased a new stake in shares of Callon Petroleum during the second quarter valued at $116,000. Genesee Valley Trust Co. purchased a new stake in shares of Callon Petroleum during the second quarter valued at $119,000. Finally, IBM Retirement Fund purchased a new stake in shares of Callon Petroleum during the second quarter valued at $129,000. 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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