Brokerages Set Callon Petroleum (CPE) PT at $16.42

Shares of Callon Petroleum (NYSE:CPE) have received a consensus recommendation of “Buy” from the twenty-three brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $16.44.

CPE has been the subject of a number of research analyst reports. Citigroup downgraded shares of Callon Petroleum from a “buy” rating to a “neutral” rating and set a $13.00 target price for the company. in a research report on Wednesday, January 3rd. Piper Jaffray initiated coverage on shares of Callon Petroleum in a research report on Thursday, January 4th. They issued an “overweight” rating and a $15.00 target price for the company. Mizuho set a $15.00 target price on shares of Callon Petroleum and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Jefferies Group reaffirmed a “buy” rating and issued a $17.00 target price on shares of Callon Petroleum in a research report on Tuesday, January 30th. Finally, Deutsche Bank initiated coverage on shares of Callon Petroleum in a research report on Thursday, February 1st. They issued a “buy” rating and a $15.00 target price for the company.

Shares of CPE opened at $14.17 on Wednesday. The company has a market cap of $2,871.58, a P/E ratio of 33.74 and a beta of 1.19. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.33. Callon Petroleum has a twelve month low of $9.34 and a twelve month high of $14.43.

Callon Petroleum (NYSE:CPE) last announced its quarterly earnings results on Tuesday, February 27th. The oil and natural gas company reported $0.15 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.15. The company had revenue of $118.21 million during the quarter, compared to the consensus estimate of $109.95 million. Callon Petroleum had a net margin of 32.86% and a return on equity of 5.02%. sell-side analysts anticipate that Callon Petroleum will post 0.9 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its stake in shares of Callon Petroleum by 1.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 9,044,597 shares of the oil and natural gas company’s stock worth $109,891,000 after acquiring an additional 152,860 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Callon Petroleum by 13.2% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 5,242,800 shares of the oil and natural gas company’s stock worth $63,699,000 after acquiring an additional 611,375 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Callon Petroleum by 3.9% during the 4th quarter. Bank of New York Mellon Corp now owns 5,069,098 shares of the oil and natural gas company’s stock worth $61,591,000 after acquiring an additional 191,088 shares during the last quarter. Luminus Management LLC boosted its stake in shares of Callon Petroleum by 91.3% during the 4th quarter. Luminus Management LLC now owns 4,885,260 shares of the oil and natural gas company’s stock worth $59,356,000 after acquiring an additional 2,330,958 shares during the last quarter. Finally, Cardinal Capital Management LLC CT boosted its stake in shares of Callon Petroleum by 7.2% during the 4th quarter. Cardinal Capital Management LLC CT now owns 4,112,196 shares of the oil and natural gas company’s stock worth $49,963,000 after acquiring an additional 275,604 shares during the last quarter.

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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.

Analyst Recommendations for Callon Petroleum (NYSE:CPE)

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