Callon Petroleum (NYSE:CPE) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Callon Petroleum (NYSE:CPE) in a research note issued to investors on Saturday morning. The firm issued a hold rating on the oil and natural gas company’s stock.

Several other equities analysts have also recently issued reports on the company. Mizuho decreased their price target on Callon Petroleum from $38.00 to $35.00 and set a neutral rating on the stock in a report on Friday, March 15th. Stifel Nicolaus reiterated a hold rating and issued a $32.00 price target (down previously from $44.00) on shares of Callon Petroleum in a report on Tuesday, January 23rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $40.33.

Callon Petroleum Price Performance

Callon Petroleum stock opened at $35.76 on Friday. The business’s 50-day simple moving average is $33.40 and its 200 day simple moving average is $33.67. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 5.87 and a beta of 2.46. Callon Petroleum has a 12-month low of $28.62 and a 12-month high of $41.36. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.48.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results on Monday, February 26th. The oil and natural gas company reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.12). The firm had revenue of $601.36 million during the quarter, compared to the consensus estimate of $563.30 million. Callon Petroleum had a net margin of 17.12% and a return on equity of 12.65%. As a group, research analysts anticipate that Callon Petroleum will post 6.56 earnings per share for the current year.

Hedge Funds Weigh In On Callon Petroleum

Hedge funds have recently added to or reduced their stakes in the stock. State of Wyoming acquired a new stake in shares of Callon Petroleum during the second quarter worth about $30,000. West Tower Group LLC acquired a new stake in shares of Callon Petroleum during the fourth quarter worth about $37,000. Lazard Asset Management LLC acquired a new stake in shares of Callon Petroleum during the second quarter worth about $40,000. Signaturefd LLC raised its position in shares of Callon Petroleum by 241.5% during the fourth quarter. Signaturefd LLC now owns 1,325 shares of the oil and natural gas company’s stock worth $43,000 after purchasing an additional 937 shares during the period. Finally, Clear Street Markets LLC raised its position in shares of Callon Petroleum by 19,900.0% during the fourth quarter. Clear Street Markets LLC now owns 2,000 shares of the oil and natural gas company’s stock worth $65,000 after purchasing an additional 1,990 shares during the period. Institutional investors and hedge funds own 91.08% of the company’s stock.

About Callon Petroleum

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. Callon Petroleum Company was founded in 1950 and is headquartered in Houston, Texas.