Callon Petroleum (NYSE:CPE) shares fell 6.8% on Monday . The stock traded as low as $7.58 and last traded at $7.62. 8,449,795 shares traded hands during trading, an increase of 38% from the average session volume of 6,137,533 shares. The stock had previously closed at $8.18.

Several research firms have weighed in on CPE. SunTrust Banks set a $12.00 target price on Callon Petroleum and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Citigroup upgraded Callon Petroleum from a “neutral” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Wednesday, January 23rd. Zacks Investment Research upgraded Callon Petroleum from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 30th. Williams Capital reiterated a “buy” rating and set a $12.00 target price on shares of Callon Petroleum in a report on Monday, February 11th. Finally, Morgan Stanley began coverage on Callon Petroleum in a report on Thursday, March 21st. They set an “equal weight” rating and a $9.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $13.81.

The company has a market cap of $1.86 billion, a PE ratio of 9.29, a PEG ratio of 0.81 and a beta of 1.50. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.53 and a quick ratio of 0.53.

Callon Petroleum (NYSE:CPE) last released its quarterly earnings results on Tuesday, February 26th. The oil and natural gas company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.05). Callon Petroleum had a net margin of 36.70% and a return on equity of 7.55%. The firm had revenue of $161.90 million during the quarter, compared to analyst estimates of $164.50 million. As a group, equities research analysts anticipate that Callon Petroleum will post 0.92 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. grew its holdings in Callon Petroleum by 830.8% during the first quarter. Rockefeller Capital Management L.P. now owns 3,593 shares of the oil and natural gas company’s stock worth $27,000 after purchasing an additional 3,207 shares during the period. Private Capital Group LLC grew its holdings in Callon Petroleum by 135.5% during the first quarter. Private Capital Group LLC now owns 4,164 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 2,396 shares during the period. Cresset Asset Management LLC bought a new position in Callon Petroleum during the first quarter worth about $38,000. Miller Investment Management LP bought a new position in Callon Petroleum during the first quarter worth about $76,000. Finally, Cornerstone Investment Partners LLC bought a new position in Callon Petroleum during the first quarter worth about $81,000.

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Callon Petroleum Company Profile (NYSE:CPE)

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas and southeastern New Mexico. As of December 31, 2018, its estimated net proved reserves totaled 238.5 million barrel of oil equivalent, including 180.1 MMBbls of oil and 350.5 Bcf of natural gas.

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