Callon Petroleum (CPE) Receives Average Recommendation of “Buy” from Analysts

Callon Petroleum (NYSE:CPE) has earned an average recommendation of “Buy” from the twenty-seven analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $17.09.

CPE has been the subject of several analyst reports. Northland Securities set a $16.00 price objective on shares of Callon Petroleum and gave the stock a “buy” rating in a report on Monday. Scotiabank set a $16.00 price objective on shares of Callon Petroleum and gave the stock a “buy” rating in a report on Saturday, November 25th. Mizuho raised shares of Callon Petroleum from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Tuesday, November 21st. BMO Capital Markets set a $15.00 price objective on shares of Callon Petroleum and gave the stock a “buy” rating in a report on Tuesday, November 14th. Finally, Bank of America initiated coverage on shares of Callon Petroleum in a report on Monday, October 16th. They issued a “buy” rating for the company.

A number of large investors have recently made changes to their positions in the business. FMR LLC boosted its holdings in Callon Petroleum by 6.2% in the 2nd quarter. FMR LLC now owns 16,132,114 shares of the oil and natural gas company’s stock valued at $171,162,000 after purchasing an additional 934,847 shares during the period. BlackRock Inc. boosted its holdings in Callon Petroleum by 7.0% in the 2nd quarter. BlackRock Inc. now owns 12,953,769 shares of the oil and natural gas company’s stock valued at $137,439,000 after purchasing an additional 851,876 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Callon Petroleum by 47.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 10,625,848 shares of the oil and natural gas company’s stock valued at $119,434,000 after purchasing an additional 3,440,342 shares during the period. State Street Corp boosted its holdings in Callon Petroleum by 11.4% in the 2nd quarter. State Street Corp now owns 7,845,502 shares of the oil and natural gas company’s stock valued at $83,244,000 after purchasing an additional 802,785 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Callon Petroleum by 1.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 7,426,037 shares of the oil and natural gas company’s stock valued at $78,790,000 after purchasing an additional 92,434 shares during the period.

Callon Petroleum (NYSE CPE) traded down $0.31 during trading on Thursday, hitting $10.57. 3,685,136 shares of the stock were exchanged, compared to its average volume of 4,946,092. Callon Petroleum has a 1 year low of $9.34 and a 1 year high of $16.48. The company has a market cap of $2,200.01, a P/E ratio of 30.28 and a beta of 1.33. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.32.

Callon Petroleum (NYSE:CPE) last released its earnings results on Monday, November 6th. The oil and natural gas company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.01). The company had revenue of $84.60 million for the quarter, compared to the consensus estimate of $81.98 million. Callon Petroleum had a net margin of 30.20% and a return on equity of 4.05%. The firm’s revenue was up 51.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.09 earnings per share. research analysts expect that Callon Petroleum will post 0.39 earnings per share for the current fiscal year.

WARNING: “Callon Petroleum (CPE) Receives Average Recommendation of “Buy” from Analysts” was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this story on another publication, it was illegally copied and republished in violation of U.S. and international copyright and trademark laws. The original version of this story can be viewed at https://www.dispatchtribunal.com/2017/12/14/callon-petroleum-cpe-receives-average-recommendation-of-buy-from-analysts.html.

About Callon Petroleum

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)

Receive News & Ratings for Callon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply