Zacks Investment Research lowered shares of Callon Petroleum Co. (NYSE:CPE) from a buy rating to a hold rating in a report issued on Tuesday morning.

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 equities analysts have also commented on the stock. Mizuho began coverage on shares of Callon Petroleum in a report on Wednesday, October 5th. They issued a neutral rating and a $16.00 price objective on the stock. Imperial Capital upped their price objective on shares of Callon Petroleum from $16.00 to $18.00 and gave the stock an outperform rating in a report on Friday, September 30th. Evercore ISI began coverage on shares of Callon Petroleum in a report on Wednesday, September 28th. They issued a buy rating and a $20.00 price objective on the stock. BMO Capital Markets started coverage on shares of Callon Petroleum in a report on Thursday, September 22nd. They issued an outperform rating and a $20.00 price objective on the stock. Finally, KLR Group reiterated a buy rating and set a $21.00 target price (up from $18.00) on shares of Callon Petroleum in a report on Tuesday, September 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $15.58.

Callon Petroleum (NYSE:CPE) traded down 0.88% during trading on Tuesday, reaching $15.70. 358,431 shares of the company’s stock traded hands. Callon Petroleum has a 12-month low of $4.21 and a 12-month high of $16.36. The company’s market cap is $2.06 billion. The company has a 50 day moving average price of $14.85 and a 200-day moving average price of $12.06.

Callon Petroleum (NYSE:CPE) last issued 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 positive return on equity of 3.77% and a negative net margin of 233.91%. The company earned $45.14 million during the quarter, compared to analyst estimates of $47.75 million. During the same quarter in the prior year, the company posted ($0.11) earnings per share. The business’s revenue was up 15.0% compared to the same quarter last year. On average, equities research analysts forecast that Callon Petroleum will post $0.26 EPS for the current fiscal year.

Large investors have recently modified their holdings of the company. Legal & General Group Plc increased its stake in shares of Callon Petroleum by 13.1% in the first quarter. Legal & General Group Plc now owns 12,043 shares of the company’s stock worth $106,000 after buying an additional 1,395 shares during the period. BlackRock Inc. increased its stake in shares of Callon Petroleum by 18.4% in the second quarter. BlackRock Inc. now owns 12,269 shares of the company’s stock worth $138,000 after buying an additional 1,908 shares during the period. California Public Employees Retirement System increased its stake in shares of Callon Petroleum by 0.3% in the second quarter. California Public Employees Retirement System now owns 744,500 shares of the company’s stock worth $8,361,000 after buying an additional 2,400 shares during the period. US Bancorp DE increased its stake in shares of 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 during the period. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Callon Petroleum by 13.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 37,502 shares of the company’s stock worth $421,000 after buying an additional 4,400 shares during the period. 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.

5 Day Chart for NYSE:CPE

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