StockNews.com Initiates Coverage on Callon Petroleum (NYSE:CPE)

Analysts at StockNews.com started coverage on shares of Callon Petroleum (NYSE:CPE) in a report issued on Monday. The brokerage set a “hold” rating on the oil and natural gas company’s stock.

A number of other equities analysts have also recently issued reports on CPE. Mizuho dropped their price objective on Callon Petroleum from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, March 15th. Stifel Nicolaus restated a “hold” rating and set a $32.00 price objective (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 issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $40.33.

Callon Petroleum Price Performance

NYSE:CPE opened at $35.76 on Monday. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 5.87 and a beta of 2.46. Callon Petroleum has a 1 year low of $28.62 and a 1 year high of $41.36. The business has a 50 day simple moving average of $34.29 and a 200-day simple moving average of $33.63. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.39 and a quick ratio of 0.39.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings data 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 company 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%. Equities analysts forecast that Callon Petroleum will post 6.56 EPS for the current year.

Institutional Investors Weigh In On Callon Petroleum

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC bought a new position in shares of Callon Petroleum in the 1st quarter worth $599,000. New York State Teachers Retirement System raised its position in shares of Callon Petroleum by 3.4% in the 1st quarter. New York State Teachers Retirement System now owns 57,409 shares of the oil and natural gas company’s stock worth $2,053,000 after acquiring an additional 1,885 shares in the last quarter. Denali Advisors LLC bought a new position in shares of Callon Petroleum in the 1st quarter worth $733,000. Cannon Global Investment Management LLC bought a new position in shares of Callon Petroleum in the 1st quarter worth $7,510,000. Finally, Portman Square Capital LLP bought a new position in shares of Callon Petroleum in the 1st quarter worth $242,000. 91.08% of the stock is owned by institutional investors.

Callon Petroleum Company Profile

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.