Callon Petroleum (NYSE:CPE) Given a $12.00 Price Target at Roth Capital

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Roth Capital set a $12.00 price objective on Callon Petroleum (NYSE:CPE) in a research note published on Friday morning, TipRanks reports. The brokerage currently has a buy rating on the oil and natural gas company’s stock.

Other equities research analysts also recently issued reports about the company. Williams Capital restated a buy rating and issued a $12.00 target price on shares of Callon Petroleum in a research report on Wednesday, February 27th. Northland Securities set a $11.00 target price on Callon Petroleum and gave the stock a buy rating in a research report on Thursday, June 13th. Stephens set a $11.00 target price on Callon Petroleum and gave the stock a buy rating in a research report on Wednesday, May 22nd. SunTrust Banks set a $12.00 target price on Callon Petroleum and gave the stock a buy rating in a research report on Tuesday, April 23rd. Finally, Morgan Stanley initiated coverage on Callon Petroleum in a research report on Thursday, March 21st. They issued an equal weight rating and a $9.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating to the company. The company currently has an average rating of Buy and an average target price of $12.94.

Shares of CPE stock opened at $6.27 on Friday. Callon Petroleum has a 12-month low of $5.57 and a 12-month high of $13.09. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 7.65, a price-to-earnings-growth ratio of 0.61 and a beta of 1.54. The business has a 50 day simple moving average of $7.04. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.53 and a quick ratio of 0.53.

Callon Petroleum (NYSE:CPE) last issued its quarterly earnings data on Monday, May 6th. The oil and natural gas company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The business had revenue of $153.05 million during the quarter, compared to analyst estimates of $144.68 million. Callon Petroleum had a return on equity of 7.55% and a net margin of 36.70%. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.27 EPS. On average, sell-side analysts forecast that Callon Petroleum will post 0.89 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the company. Systematic Financial Management LP lifted its position in shares of Callon Petroleum by 1.2% during the 1st quarter. Systematic Financial Management LP now owns 1,369,930 shares of the oil and natural gas company’s stock valued at $10,343,000 after acquiring an additional 16,811 shares during the last quarter. Balasa Dinverno & Foltz LLC lifted its position in shares of Callon Petroleum by 69.8% during the 1st quarter. Balasa Dinverno & Foltz LLC now owns 22,934 shares of the oil and natural gas company’s stock valued at $173,000 after acquiring an additional 9,424 shares during the last quarter. Hancock Whitney Corp acquired a new stake in Callon Petroleum during the 4th quarter valued at $3,409,000. Columbus Circle Investors raised its stake in Callon Petroleum by 3.8% during the 1st quarter. Columbus Circle Investors now owns 1,539,795 shares of the oil and natural gas company’s stock valued at $11,625,000 after purchasing an additional 55,793 shares during the period. Finally, Weiss Multi Strategy Advisers LLC raised its stake in Callon Petroleum by 313.7% during the 4th quarter. Weiss Multi Strategy Advisers LLC now owns 1,224,550 shares of the oil and natural gas company’s stock valued at $7,947,000 after purchasing an additional 928,550 shares during the period.

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 and southeastern New Mexico. As of December 31, 2018, its estimated net proved reserves totaled 238.5 million barrel of oil equivalent, including 180.1 MMBbls of oil and 350.5 Bcf of natural gas.

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Analyst Recommendations for Callon Petroleum (NYSE:CPE)

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