StockNews.com Initiates Coverage on Callon Petroleum (NYSE:CPE)

Analysts at StockNews.com began coverage on shares of Callon Petroleum (NYSE:CPE) in a research note issued on Thursday. The brokerage set a “hold” rating on the oil and natural gas company’s stock.

A number of other analysts also recently commented on CPE. Stifel Nicolaus reiterated a “hold” rating and set a $32.00 target price (down from $44.00) on shares of Callon Petroleum in a research report on Tuesday, January 23rd. Morgan Stanley reduced their price objective on Callon Petroleum from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 29th. Finally, Mizuho reduced their price objective on Callon Petroleum from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, March 15th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Callon Petroleum currently has an average rating of “Hold” and an average target price of $40.33.

Callon Petroleum Trading Up 1.8 %

Shares of CPE stock opened at $35.76 on Thursday. The business’s fifty day moving average price is $32.60 and its 200 day moving average price is $33.96. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.39 and a quick ratio of 0.39. The firm has a market capitalization of $2.38 billion, a PE ratio of 5.87 and a beta of 2.46. Callon Petroleum has a 1-year low of $28.62 and a 1-year high of $41.36.

Callon Petroleum (NYSE:CPE) last posted its earnings results on Monday, February 26th. The oil and natural gas company reported $1.62 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.12). The firm had revenue of $601.36 million for the quarter, compared to analysts’ expectations of $563.30 million. Callon Petroleum had a return on equity of 12.65% and a net margin of 17.12%. As a group, sell-side analysts forecast that Callon Petroleum will post 6.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Callon Petroleum

Several large investors have recently added to or reduced their stakes in CPE. State of Wyoming acquired a new stake in Callon Petroleum during the second quarter worth about $30,000. Lazard Asset Management LLC acquired a new stake in Callon Petroleum during the second quarter worth about $40,000. West Tower Group LLC acquired a new stake in Callon Petroleum during the fourth quarter worth about $37,000. Signaturefd LLC increased its stake in Callon Petroleum by 241.5% during the fourth quarter. Signaturefd LLC now owns 1,325 shares of the oil and natural gas company’s stock worth $43,000 after acquiring an additional 937 shares during the last quarter. Finally, Clear Street Markets LLC increased its stake in Callon Petroleum by 19,900.0% during the fourth quarter. Clear Street Markets LLC now owns 2,000 shares of the oil and natural gas company’s stock worth $65,000 after acquiring an additional 1,990 shares during the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Callon Petroleum Company Profile

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, exploration, and development of oil and natural gas properties in West Texas. Callon Petroleum Company was founded in 1950 and is headquartered in Houston, Texas.