Callon Petroleum (NYSE:CPE) Given Average Rating of “Moderate Buy” by Analysts

by · The Cerbat Gem

Callon Petroleum (NYSE:CPE – Get Free Report) has been given an average rating of “Moderate Buy” by the six analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $47.00.

Several research analysts have commented on the company. StockNews.com raised Callon Petroleum from a “sell” rating to a “hold” rating in a research note on Saturday, October 21st. Morgan Stanley lowered their target price on Callon Petroleum from $41.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 29th. Stifel Nicolaus lowered their target price on Callon Petroleum from $54.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, November 30th. Royal Bank of Canada reduced their price target on Callon Petroleum from $50.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, November 22nd. Finally, Mizuho boosted their price target on Callon Petroleum from $59.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, September 18th.

Read Our Latest Research Report on CPE

Institutional Trading of Callon Petroleum

Several hedge funds and other institutional investors have recently made changes to their positions in CPE. Allspring Global Investments Holdings LLC boosted its holdings in Callon Petroleum by 32.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 821,353 shares of the oil and natural gas company’s stock valued at $28,805,000 after acquiring an additional 203,509 shares during the last quarter. Boston Trust Walden Corp bought a new stake in Callon Petroleum in the third quarter valued at approximately $27,941,000. Swiss National Bank boosted its holdings in Callon Petroleum by 13.5% in the second quarter. Swiss National Bank now owns 120,700 shares of the oil and natural gas company’s stock valued at $4,233,000 after acquiring an additional 14,400 shares during the last quarter. Barclays PLC boosted its holdings in Callon Petroleum by 75.5% in the second quarter. Barclays PLC now owns 131,260 shares of the oil and natural gas company’s stock valued at $4,604,000 after acquiring an additional 56,452 shares during the last quarter. Finally, CWM LLC boosted its holdings in Callon Petroleum by 260.7% in the second quarter. CWM LLC now owns 1,100 shares of the oil and natural gas company’s stock valued at $39,000 after acquiring an additional 795 shares during the last quarter. 92.79% of the stock is currently owned by institutional investors.

Callon Petroleum Price Performance

NYSE:CPE opened at $32.40 on Friday. Callon Petroleum has a 1-year low of $28.62 and a 1-year high of $44.49. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.50. The firm has a fifty day simple moving average of $33.37 and a 200 day simple moving average of $35.41. The stock has a market capitalization of $2.20 billion, a PE ratio of 4.05 and a beta of 2.53.

Callon Petroleum (NYSE:CPE – Get Free Report) last released its earnings results on Wednesday, November 1st. The oil and natural gas company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.03. Callon Petroleum had a net margin of 20.63% and a return on equity of 16.26%. The business had revenue of $619.30 million during the quarter, compared to analysts’ expectations of $599.76 million. During the same period last year, the business earned $4.04 earnings per share. The firm’s revenue was down 25.9% on a year-over-year basis. On average, research analysts expect that Callon Petroleum will post 7.56 EPS for the current fiscal year.

Callon Petroleum Company Profile

(Get Free Report

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, exploration, and development of oil and natural gas properties in West Texas. The company was founded in 1950 and is headquartered in Houston, Texas.

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