Callon Petroleum (CPE) Rating Lowered to Sell at ValuEngine

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Callon Petroleum (NYSE:CPE) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

CPE has been the topic of several other reports. Stephens set a $20.00 price target on shares of Callon Petroleum and gave the stock a “buy” rating in a report on Wednesday, July 25th. Zacks Investment Research lowered shares of Callon Petroleum from a “buy” rating to a “hold” rating in a report on Thursday, July 19th. KLR Group reaffirmed a “buy” rating and issued a $16.00 price target on shares of Callon Petroleum in a report on Monday, August 20th. Barclays assumed coverage on shares of Callon Petroleum in a report on Wednesday, August 29th. They issued an “overweight” rating and a $14.00 price target on the stock. Finally, Stifel Nicolaus lifted their price target on shares of Callon Petroleum from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, June 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $16.11.

NYSE CPE opened at $10.76 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.61 and a current ratio of 2.61. Callon Petroleum has a 12-month low of $9.34 and a 12-month high of $14.65. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 25.62 and a beta of 1.10.

Callon Petroleum (NYSE:CPE) last released its quarterly earnings results on Monday, August 6th. The oil and natural gas company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.01). Callon Petroleum had a return on equity of 7.25% and a net margin of 31.27%. The firm had revenue of $137.10 million during the quarter, compared to analysts’ expectations of $133.66 million. During the same period in the prior year, the firm posted $0.09 earnings per share. Callon Petroleum’s revenue for the quarter was up 66.6% compared to the same quarter last year. sell-side analysts anticipate that Callon Petroleum will post 0.87 EPS for the current year.

Several large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of Callon Petroleum by 21.5% during the second quarter. Bank of New York Mellon Corp now owns 6,187,203 shares of the oil and natural gas company’s stock worth $66,452,000 after buying an additional 1,095,098 shares during the period. Green Square Capital LLC acquired a new stake in shares of Callon Petroleum during the second quarter worth $189,000. Glenmede Trust Co. NA lifted its stake in shares of Callon Petroleum by 54.2% during the second quarter. Glenmede Trust Co. NA now owns 5,543,836 shares of the oil and natural gas company’s stock worth $59,541,000 after buying an additional 1,949,736 shares during the period. Phocas Financial Corp. lifted its stake in shares of Callon Petroleum by 31.2% during the second quarter. Phocas Financial Corp. now owns 1,480,958 shares of the oil and natural gas company’s stock worth $15,905,000 after buying an additional 352,235 shares during the period. Finally, HPM Partners LLC acquired a new stake in shares of Callon Petroleum during the second quarter worth $161,000.

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.

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