Zacks Investment Research upgraded shares of Callon Petroleum (NYSE:CPE) from a sell rating to a hold rating in a report published on Monday morning.
According to Zacks, “Callon Petroleum Company has been engaged in the exploration, development, acquisition and production of oil and gas properties since 1950. “
Several other research firms also recently weighed in on CPE. Citigroup downgraded shares of Callon Petroleum from a buy rating to a neutral rating and set a $13.00 price target for the company. in a research note on Wednesday, January 3rd. Scotiabank set a $16.00 price target on shares of Callon Petroleum and gave the company a buy rating in a research note on Saturday, November 25th. B. Riley initiated coverage on shares of Callon Petroleum in a research note on Monday, February 5th. They issued a neutral rating and a $11.75 price target for the company. Mizuho raised shares of Callon Petroleum from a neutral rating to a buy rating and set a $14.00 price target for the company in a research note on Tuesday, November 21st. Finally, Bank of America initiated coverage on shares of Callon Petroleum in a research note on Monday, October 16th. They issued a buy rating for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $16.39.
Shares of Callon Petroleum (NYSE CPE) opened at $10.74 on Monday. Callon Petroleum has a 52 week low of $9.34 and a 52 week high of $14.92. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.32. The firm has a market cap of $2,170.00, a price-to-earnings ratio of 24.98 and a beta of 1.15.
Institutional investors have recently added to or reduced their stakes in the stock. Zions Bancorporation purchased a new position in Callon Petroleum during the third quarter worth about $105,000. Fondren Management LP purchased a new position in Callon Petroleum during the second quarter worth about $106,000. BB&T Securities LLC purchased a new position in Callon Petroleum during the third quarter worth about $112,000. Raymond James Financial Services Advisors Inc. purchased a new position in Callon Petroleum during the second quarter worth about $133,000. Finally, Intrust Bank NA purchased a new position in Callon Petroleum during the third quarter worth about $139,000.
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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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