Callon Petroleum (NYSE:CPE)‘s stock had its “buy” rating reaffirmed by SunTrust Banks in a report issued on Tuesday, February 6th. They presently have a $16.00 price objective on the oil and natural gas company’s stock. SunTrust Banks’ price target would indicate a potential upside of 46.92% from the company’s current price. SunTrust Banks also issued estimates for Callon Petroleum’s Q4 2017 earnings at $0.15 EPS, FY2017 earnings at $0.43 EPS, FY2018 earnings at $0.85 EPS, FY2019 earnings at $1.37 EPS and FY2020 earnings at $1.72 EPS.
Several other brokerages have also weighed in on CPE. Scotiabank set a $16.00 price objective on Callon Petroleum and gave the stock a “buy” rating in a report on Saturday, November 25th. Citigroup downgraded Callon Petroleum from a “buy” rating to a “neutral” rating and set a $13.00 target price for the company. in a research report on Wednesday, January 3rd. B. Riley assumed coverage on Callon Petroleum in a research report on Monday, February 5th. They set a “neutral” rating and a $11.75 target price for the company. BMO Capital Markets set a $15.00 price objective on Callon Petroleum and gave the company a “buy” rating in a research report on Tuesday, October 10th. Finally, Mizuho upgraded Callon Petroleum from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Tuesday, November 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Callon Petroleum presently has a consensus rating of “Buy” and a consensus target price of $16.39.
Callon Petroleum (NYSE:CPE) traded up $0.15 on Tuesday, reaching $10.89. The company’s stock had a trading volume of 2,694,672 shares, compared to its average volume of 4,821,033. Callon Petroleum has a 12-month low of $9.34 and a 12-month high of $14.64. The firm has a market cap of $2,170.00, a price-to-earnings ratio of 24.98 and a beta of 1.15. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.84 and a quick ratio of 0.84.
Institutional investors and hedge funds have recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Callon Petroleum by 61.0% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 4,631,425 shares of the oil and natural gas company’s stock valued at $52,057,000 after acquiring an additional 1,755,125 shares during the last quarter. Voya Investment Management LLC raised its position in Callon Petroleum by 22.8% during the 2nd quarter. Voya Investment Management LLC now owns 93,670 shares of the oil and natural gas company’s stock worth $994,000 after purchasing an additional 17,410 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Callon Petroleum by 8.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 18,990 shares of the oil and natural gas company’s stock worth $202,000 after purchasing an additional 1,555 shares during the last quarter. Ninepoint Partners LP bought a new position in Callon Petroleum during the 3rd quarter worth $7,778,000. Finally, Hillcrest Asset Management LLC raised its position in shares of Callon Petroleum by 43.8% in the 2nd quarter. Hillcrest Asset Management LLC now owns 967,100 shares of the oil and natural gas company’s stock worth $10,261,000 after acquiring an additional 294,660 shares in the last quarter.
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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.
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