A number of other research analysts also recently commented on the company. JPMorgan Chase & Co. set a $9.00 price objective on Callon Petroleum and gave the stock a buy rating in a research note on Friday, December 7th. Oppenheimer initiated coverage on Callon Petroleum in a research note on Wednesday, October 3rd. They set an outperform rating and a $16.00 price objective for the company. Tudor Pickering lowered Callon Petroleum from a buy rating to a hold rating in a research report on Friday, December 14th. Seaport Global Securities upgraded Callon Petroleum from a neutral rating to a buy rating and reduced their price target for the stock from $16.00 to $13.00 in a research report on Monday, December 10th. Finally, Williams Capital reiterated a buy rating and set a $12.00 price target on shares of Callon Petroleum in a research report on Wednesday, December 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $15.42.
CPE traded down $0.09 during trading on Wednesday, reaching $8.49. 9,731,608 shares of the company were exchanged, compared to its average volume of 7,955,614. The company has a market cap of $1.95 billion, a P/E ratio of 20.21, a PEG ratio of 0.22 and a beta of 1.32. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.57 and a quick ratio of 0.57. Callon Petroleum has a 52 week low of $5.57 and a 52 week high of $14.65.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in shares of Callon Petroleum by 14.9% in the second quarter. BlackRock Inc. now owns 24,830,264 shares of the oil and natural gas company’s stock valued at $266,676,000 after buying an additional 3,218,124 shares during the period. Glenmede Trust Co. NA lifted its holdings in shares of Callon Petroleum by 54.2% in the second quarter. Glenmede Trust Co. NA now owns 5,543,836 shares of the oil and natural gas company’s stock valued at $59,541,000 after buying an additional 1,949,736 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Callon Petroleum in the second quarter valued at $13,964,000. Bank of America Corp DE lifted its holdings in shares of Callon Petroleum by 82.7% in the second quarter. Bank of America Corp DE now owns 2,549,248 shares of the oil and natural gas company’s stock valued at $27,378,000 after buying an additional 1,154,261 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Callon Petroleum by 21.5% in the second quarter. Bank of New York Mellon Corp now owns 6,187,203 shares of the oil and natural gas company’s stock valued at $66,452,000 after buying an additional 1,095,098 shares during the period.
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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