Callon Petroleum Co. (NYSE:CPE) shares gapped up before the market opened on Tuesday after KeyCorp raised their price target on the stock from $19.00 to $20.00. The stock had previously closed at $15.78, but opened at $15.45. KeyCorp currently has an overweight rating on the stock. Callon Petroleum shares last traded at $15.37, with a volume of 1,671,038 shares trading hands.

A number of other research firms also recently commented on CPE. Wunderlich increased their price objective on shares of Callon Petroleum from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th. Imperial Capital raised their price target on shares of Callon Petroleum from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, September 30th. BMO Capital Markets initiated coverage on shares of Callon Petroleum in a research report on Thursday, September 22nd. They issued an “outperform” rating and a $20.00 price target on the stock. Zacks Investment Research upgraded shares of Callon Petroleum from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Friday, August 12th. Finally, FBR & Co restated a “buy” rating and issued a $20.00 price target on shares of Callon Petroleum in a research report on Thursday, November 3rd. Four analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Callon Petroleum currently has an average rating of “Buy” and a consensus price target of $15.96.

Several hedge funds and other institutional investors have recently made changes to their positions in CPE. BlackRock Inc. boosted its position in shares of Callon Petroleum by 18.4% in the second quarter. BlackRock Inc. now owns 12,269 shares of the company’s stock valued at $138,000 after buying an additional 1,908 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Callon Petroleum by 16.2% in the third quarter. Prudential Financial Inc. now owns 14,505 shares of the company’s stock valued at $228,000 after buying an additional 2,020 shares during the last quarter. California Public Employees Retirement System boosted its position 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 valued at $8,361,000 after buying an additional 2,400 shares during the last quarter. US Bancorp DE boosted its position 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 valued at $107,000 after buying an additional 2,730 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position 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 valued at $421,000 after buying an additional 4,400 shares during the last quarter. Institutional investors own 89.62% of the company’s stock.

The stock’s market capitalization is $2.55 billion. The company has a 50-day moving average of $14.56 and a 200 day moving average of $13.10.

Callon Petroleum (NYSE:CPE) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The business had revenue of $55.90 million for the quarter, compared to the consensus estimate of $45.48 million. Callon Petroleum had a negative net margin of 122.93% and a positive return on equity of 4.44%. The firm’s quarterly revenue was up 63.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 EPS. On average, equities analysts predict that Callon Petroleum Co. will post $0.28 EPS for the current year.

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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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