Callon Petroleum (NYSE:CPE)‘s stock had its “buy” rating reaffirmed by equities research analysts at KLR Group in a research report issued to clients and investors on Monday. They presently have a $16.00 target price on the oil and natural gas company’s stock. KLR Group’s price objective would indicate a potential upside of 48.84% from the stock’s previous close.
A number of other research firms have also recently commented on CPE. ValuEngine upgraded Callon Petroleum from a “hold” rating to a “buy” rating in a research note on Wednesday, May 9th. KeyCorp lifted their target price on Callon Petroleum from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, April 23rd. Piper Jaffray Companies reiterated a “buy” rating and set a $20.00 target price on shares of Callon Petroleum in a research note on Sunday, August 12th. Stephens set a $20.00 target price on Callon Petroleum and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Finally, Zacks Investment Research cut Callon Petroleum from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $16.22.
NYSE:CPE traded up $0.01 during trading hours on Monday, hitting $10.75. 215,087 shares of the company traded hands, compared to its average volume of 5,158,595. The stock has a market cap of $2.59 billion, a PE ratio of 25.62 and a beta of 0.98. Callon Petroleum has a one year low of $9.34 and a one year high of $14.65. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 0.44.
Callon Petroleum (NYSE:CPE) last released its earnings results on Monday, August 6th. The oil and natural gas company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.01). The business had revenue of $137.10 million for the quarter, compared to the consensus estimate of $133.66 million. Callon Petroleum had a return on equity of 7.25% and a net margin of 31.27%. The company’s revenue for the quarter was up 66.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share. sell-side analysts forecast that Callon Petroleum will post 0.93 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Miller Investment Management LP purchased a new stake in Callon Petroleum in the 1st quarter worth about $132,000. Prospera Financial Services Inc purchased a new stake in Callon Petroleum in the 2nd quarter worth about $113,000. Marietta Investment Partners LLC purchased a new stake in Callon Petroleum in the 2nd quarter worth about $153,000. Cubist Systematic Strategies LLC increased its holdings in Callon Petroleum by 175.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 14,654 shares of the oil and natural gas company’s stock worth $194,000 after acquiring an additional 9,343 shares during the last quarter. Finally, HPM Partners LLC purchased a new stake in Callon Petroleum in the 2nd quarter worth about $161,000.
Callon Petroleum Company Profile
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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