Callon Petroleum (NYSE:CPE) Shares Gap Down to $4.22

Callon Petroleum (NYSE:CPE) gapped down before the market opened on Thursday . The stock had previously closed at $4.04, but opened at $4.22. Callon Petroleum shares last traded at $4.20, with a volume of 8,427,989 shares.

Several analysts recently issued reports on the stock. Morgan Stanley set a $8.00 price objective on shares of Callon Petroleum and gave the stock a “hold” rating in a report on Monday, June 24th. Capital One Financial raised shares of Callon Petroleum from an “equal weight” rating to an “overweight” rating in a report on Thursday, May 23rd. Williams Capital decreased their price objective on shares of Callon Petroleum from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, July 16th. Imperial Capital decreased their price objective on shares of Callon Petroleum from $16.00 to $11.00 and set an “in-line” rating for the company in a report on Tuesday, July 16th. Finally, Stephens set a $11.00 price objective on shares of Callon Petroleum and gave the stock a “buy” rating in a report on Wednesday, May 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $11.89.

The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.44. The business’s fifty day simple moving average is $5.43 and its two-hundred day simple moving average is $6.89. The stock has a market capitalization of $1.07 billion, a P/E ratio of 5.23, a P/E/G ratio of 0.55 and a beta of 1.44.

Callon Petroleum (NYSE:CPE) last issued its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. Callon Petroleum had a net margin of 35.72% and a return on equity of 7.57%. The firm had revenue of $167.05 million during the quarter, compared to the consensus estimate of $163.05 million. During the same period in the prior year, the firm earned $0.23 EPS. The business’s revenue was up 21.9% on a year-over-year basis. On average, equities research analysts anticipate that Callon Petroleum will post 0.77 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the company. Systematic Financial Management LP lifted its holdings in shares of Callon Petroleum by 1.2% during the 1st quarter. Systematic Financial Management LP now owns 1,369,930 shares of the oil and natural gas company’s stock worth $10,343,000 after acquiring an additional 16,811 shares during the period. Moody Aldrich Partners LLC increased its position in shares of Callon Petroleum by 52.9% during the 2nd quarter. Moody Aldrich Partners LLC now owns 576,267 shares of the oil and natural gas company’s stock worth $3,798,000 after purchasing an additional 199,346 shares in the last quarter. Balasa Dinverno & Foltz LLC increased its position in shares of Callon Petroleum by 69.8% during the 1st quarter. Balasa Dinverno & Foltz LLC now owns 22,934 shares of the oil and natural gas company’s stock worth $173,000 after purchasing an additional 9,424 shares in the last quarter. Columbus Circle Investors increased its position in shares of Callon Petroleum by 3.8% during the 1st quarter. Columbus Circle Investors now owns 1,539,795 shares of the oil and natural gas company’s stock worth $11,625,000 after purchasing an additional 55,793 shares in the last quarter. Finally, Tributary Capital Management LLC increased its position in shares of Callon Petroleum by 15.6% during the 1st quarter. Tributary Capital Management LLC now owns 2,098,046 shares of the oil and natural gas company’s stock worth $15,840,000 after purchasing an additional 282,381 shares in the last quarter.

Callon Petroleum Company Profile (NYSE:CPE)

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 and southeastern New Mexico. As of December 31, 2018, its estimated net proved reserves totaled 238.5 million barrel of oil equivalent, including 180.1 MMBbls of oil and 350.5 Bcf of natural gas.

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