Stock analysts at Bank of America Corporation started coverage on shares of Callon Petroleum Company (NYSE:CPE) in a report issued on Monday. The brokerage set a “buy” rating on the oil and natural gas company’s stock.

Other equities research analysts also recently issued research reports about the stock. Scotiabank set a $15.00 target price on shares of Callon Petroleum and gave the stock a “buy” rating in a research report on Saturday, July 1st. Northland Securities set a $18.00 target price on shares of Callon Petroleum and gave the stock a “buy” rating in a research report on Monday, July 17th. BMO Capital Markets set a $15.00 target price on shares of Callon Petroleum and gave the stock a “buy” rating in a research report on Monday, June 26th. Imperial Capital assumed coverage on shares of Callon Petroleum in a research report on Tuesday, August 15th. They issued an “outperform” rating and a $16.00 target price for the company. Finally, Seaport Global Securities downgraded shares of Callon Petroleum from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $19.00 to $10.00 in a research report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have assigned a buy rating to the stock. Callon Petroleum currently has a consensus rating of “Buy” and a consensus price target of $17.50.

Callon Petroleum (NYSE:CPE) opened at 11.13 on Monday. The firm has a 50-day moving average of $10.80 and a 200 day moving average of $11.21. Callon Petroleum has a 1-year low of $9.34 and a 1-year high of $18.53. The firm has a market cap of $2.25 billion, a P/E ratio of 21.20 and a beta of 1.43.

Callon Petroleum (NYSE:CPE) last released its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.02). The company had revenue of $82.30 million during the quarter, compared to the consensus estimate of $83.89 million. Callon Petroleum had a return on equity of 4.16% and a net margin of 34.61%. Callon Petroleum’s revenue for the quarter was up 82.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.61) EPS. On average, analysts predict that Callon Petroleum will post $0.47 EPS for the current year.

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Institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Callon Petroleum by 96,684.2% during the 1st quarter. BlackRock Inc. now owns 12,101,893 shares of the oil and natural gas company’s stock valued at $159,259,000 after purchasing an additional 12,089,389 shares during the period. Victory Capital Management Inc. boosted its stake in Callon Petroleum by 24.0% during the 2nd quarter. Victory Capital Management Inc. now owns 2,203,067 shares of the oil and natural gas company’s stock valued at $23,375,000 after purchasing an additional 425,767 shares during the period. Rhumbline Advisers boosted its stake in Callon Petroleum by 16.0% during the 2nd quarter. Rhumbline Advisers now owns 250,714 shares of the oil and natural gas company’s stock valued at $2,660,000 after purchasing an additional 34,532 shares during the period. Cipher Capital LP boosted its stake in Callon Petroleum by 45.7% during the 2nd quarter. Cipher Capital LP now owns 591,418 shares of the oil and natural gas company’s stock valued at $6,275,000 after purchasing an additional 185,523 shares during the period. Finally, Comerica Bank boosted its stake in Callon Petroleum by 19.6% during the 2nd quarter. Comerica Bank now owns 208,092 shares of the oil and natural gas company’s stock valued at $2,278,000 after purchasing an additional 34,033 shares during the period.

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. The Company focuses on the acquisition and development of unconventional oil and natural gas reserves in the Permian Basin.

Analyst Recommendations for Callon Petroleum (NYSE:CPE)

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