Callon Petroleum (CPE) Downgraded by Capital One Financial to “Equal Weight”

Callon Petroleum (NYSE:CPE) was downgraded by equities research analysts at Capital One Financial from an “overweight” rating to an “equal weight” rating in a report issued on Wednesday, The Fly reports.

A number of other equities analysts have also recently commented on CPE. TheStreet cut shares of Callon Petroleum from a “b-” rating to a “c+” rating in a research note on Tuesday, November 27th. Cowen started coverage on shares of Callon Petroleum in a research note on Thursday, November 29th. They issued an “outperform” rating for the company. ValuEngine cut shares of Callon Petroleum from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 1st. Stephens started coverage on shares of Callon Petroleum in a research note on Thursday, December 6th. They issued an “overweight” rating and a $14.00 price target for the company. Finally, JPMorgan Chase & Co. set a $9.00 price target on shares of Callon Petroleum and gave the stock a “buy” rating in a research note on Friday, December 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $14.63.

CPE stock opened at $7.50 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.71 and a quick ratio of 0.71. Callon Petroleum has a one year low of $5.57 and a one year high of $14.65. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 9.15, a P/E/G ratio of 0.80 and a beta of 1.54.

Institutional investors and hedge funds have recently made changes to their positions in the company. Cipher Capital LP bought a new stake in shares of Callon Petroleum in the 4th quarter worth approximately $72,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Callon Petroleum in the 4th quarter worth approximately $73,000. Nisa Investment Advisors LLC lifted its holdings in shares of Callon Petroleum by 968.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 11,695 shares of the oil and natural gas company’s stock worth $76,000 after acquiring an additional 10,600 shares during the last quarter. MML Investors Services LLC bought a new stake in shares of Callon Petroleum in the 3rd quarter worth approximately $144,000. Finally, CWM Advisors LLC bought a new stake in shares of Callon Petroleum in the 4th quarter worth approximately $88,000.

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.

Featured Story: Trading signals using Bollinger bands

The Fly

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.