Callon Petroleum’s (NYSE:CPE) Buy Rating Reiterated at Piper Jaffray

Piper Jaffray reissued their buy rating on shares of Callon Petroleum (NYSE:CPE) in a research report released on Thursday, March 15th. Piper Jaffray currently has a $16.00 price target on the oil and natural gas company’s stock.

CPE has been the topic of a number of other reports. Mizuho upgraded shares of Callon Petroleum from a neutral rating to a buy rating and set a $14.00 target price on the stock in a report on Tuesday, November 21st. Scotiabank set a $16.00 target price on shares of Callon Petroleum and gave the stock a buy rating in a report on Saturday, November 25th. Northland Securities set a $16.00 target price on shares of Callon Petroleum and gave the stock a buy rating in a report on Monday, December 11th. Credit Suisse Group began coverage on shares of Callon Petroleum in a report on Monday, December 11th. They set a neutral rating and a $12.00 target price on the stock. Finally, Citigroup downgraded shares of Callon Petroleum from a buy rating to a neutral rating and set a $13.00 target price on the stock. in a report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the company. The company currently has an average rating of Buy and an average target price of $16.41.

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Shares of NYSE CPE traded down $0.46 during midday trading on Thursday, reaching $12.00. The company’s stock had a trading volume of 5,205,224 shares, compared to its average volume of 3,637,217. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.33. Callon Petroleum has a fifty-two week low of $9.34 and a fifty-two week high of $13.73. The company has a market capitalization of $2,423.27, a PE ratio of 28.57 and a beta of 1.19.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings data on Tuesday, February 27th. The oil and natural gas company reported $0.15 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.15. Callon Petroleum had a net margin of 32.86% and a return on equity of 5.02%. The company had revenue of $118.21 million for the quarter, compared to the consensus estimate of $109.95 million. sell-side analysts expect that Callon Petroleum will post 0.88 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. Brown Advisory Inc. boosted its position in shares of Callon Petroleum by 12.7% in the third quarter. Brown Advisory Inc. now owns 38,442 shares of the oil and natural gas company’s stock valued at $432,000 after acquiring an additional 4,334 shares during the period. Advisor Group Inc. boosted its position in shares of Callon Petroleum by 23.0% in the third quarter. Advisor Group Inc. now owns 23,226 shares of the oil and natural gas company’s stock valued at $261,000 after acquiring an additional 4,339 shares during the period. Texas Permanent School Fund boosted its position in shares of Callon Petroleum by 3.4% in the fourth quarter. Texas Permanent School Fund now owns 136,434 shares of the oil and natural gas company’s stock valued at $1,658,000 after acquiring an additional 4,465 shares during the period. Green Square Capital LLC boosted its position in shares of Callon Petroleum by 34.0% in the third quarter. Green Square Capital LLC now owns 20,095 shares of the oil and natural gas company’s stock valued at $226,000 after acquiring an additional 5,095 shares during the period. Finally, Aperio Group LLC boosted its position in shares of Callon Petroleum by 7.8% in the fourth quarter. Aperio Group LLC now owns 77,418 shares of the oil and natural gas company’s stock valued at $941,000 after acquiring an additional 5,625 shares during the period.

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About Callon Petroleum

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional onshore, oil, and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2017, its estimated net proved reserves totaled 137.0 million barrel of oil equivalent.

Analyst Recommendations for Callon Petroleum (NYSE:CPE)

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