Bank of America Corporation assumed coverage on shares of Callon Petroleum Company (NYSE:CPE) in a report published on Monday, October 16th, Marketbeat Ratings reports. The brokerage issued a buy rating on the oil and natural gas company’s stock.
A number of other research analysts have also weighed in on CPE. Tudor Pickering initiated coverage on Callon Petroleum in a report on Tuesday, June 20th. They set a buy rating and a $26.00 price objective for the company. BidaskClub downgraded Callon Petroleum from a sell rating to a strong sell rating in a report on Tuesday, June 20th. Seaport Global Securities downgraded Callon Petroleum from a buy rating to a neutral rating and lowered their price target for the company from $19.00 to $10.00 in a report on Wednesday, June 21st. BMO Capital Markets set a $15.00 price target on Callon Petroleum and gave the company a buy rating in a report on Monday, June 26th. Finally, Scotiabank set a $15.00 price target on Callon Petroleum and gave the company a buy rating in a report on Saturday, July 1st. One 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. The stock has an average rating of Buy and an average price target of $17.50.
Callon Petroleum (NYSE CPE) traded up 3.12% during midday trading on Monday, reaching $10.59. The company had a trading volume of 2,801,776 shares. Callon Petroleum has a 1-year low of $9.34 and a 1-year high of $18.53. The firm has a 50-day moving average of $10.90 and a 200 day moving average of $11.08. The company has a market capitalization of $2.14 billion, a P/E ratio of 20.17 and a beta of 1.43.
Callon Petroleum (NYSE:CPE) last posted its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). Callon Petroleum had a net margin of 34.61% and a return on equity of 4.16%. The company had revenue of $82.30 million during the quarter, compared to analysts’ expectations of $83.89 million. During the same period in the previous year, the company posted ($0.61) EPS. Callon Petroleum’s quarterly revenue was up 82.5% compared to the same quarter last year. On average, equities research analysts forecast that Callon Petroleum will post $0.45 EPS for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of CPE. Fondren Management LP acquired a new position in shares of Callon Petroleum during the second quarter valued at approximately $106,000. FFT Wealth Management LLC acquired a new position in Callon Petroleum in the second quarter worth approximately $113,000. Green Square Capital LLC acquired a new position in Callon Petroleum in the first quarter worth approximately $132,000. Raymond James Financial Services Advisors Inc. acquired a new position in Callon Petroleum in the second quarter worth approximately $133,000. Finally, Crossmark Global Holdings Inc. acquired a new position in Callon Petroleum in the third quarter worth approximately $142,000.
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.
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