Callon Petroleum (NYSE:CPE) was the recipient of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 48,767,084 shares, an increase of 9.8% from the May 15th total of 44,422,124 shares. Approximately 21.9% of the company’s shares are sold short. Based on an average daily trading volume, of 9,227,012 shares, the days-to-cover ratio is currently 5.3 days.
CPE has been the topic of a number of analyst reports. TheStreet raised Callon Petroleum from a “c+” rating to a “b-” rating in a research note on Wednesday, April 4th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $16.00 target price on shares of Callon Petroleum in a research note on Thursday, March 15th. Jefferies Financial Group set a $18.00 target price on Callon Petroleum and gave the company a “buy” rating in a research note on Wednesday, March 14th. ValuEngine raised Callon Petroleum from a “hold” rating to a “buy” rating in a research note on Wednesday, May 9th. Finally, KeyCorp upped their target price on Callon Petroleum from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, April 23rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. Callon Petroleum presently has a consensus rating of “Buy” and a consensus target price of $16.11.
Shares of Callon Petroleum opened at $9.88 on Friday, according to MarketBeat.com. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.35. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 23.52 and a beta of 1.15. Callon Petroleum has a 12-month low of $9.34 and a 12-month high of $14.65.
Callon Petroleum (NYSE:CPE) last announced its earnings results on Wednesday, May 2nd. The oil and natural gas company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The business had revenue of $127.40 million for the quarter, compared to analysts’ expectations of $120.69 million. Callon Petroleum had a return on equity of 5.98% and a net margin of 31.28%. The business’s revenue for the quarter was up 56.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 EPS. equities research analysts expect that Callon Petroleum will post 0.92 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in CPE. Miller Investment Management LP bought a new stake in Callon Petroleum during the 1st quarter valued at $132,000. Virtu Financial LLC bought a new stake in Callon Petroleum during the 4th quarter valued at $151,000. Cubist Systematic Strategies LLC boosted its position in Callon Petroleum by 175.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 14,654 shares of the oil and natural gas company’s stock valued at $194,000 after acquiring an additional 9,343 shares in the last quarter. Zeke Capital Advisors LLC purchased a new stake in shares of Callon Petroleum during the 1st quarter valued at $207,000. Finally, Intrust Bank NA lifted its holdings in shares of Callon Petroleum by 51.2% during the 1st quarter. Intrust Bank NA now owns 17,716 shares of the oil and natural gas company’s stock valued at $235,000 after purchasing an additional 5,999 shares during the last quarter.
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.
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