Callon Petroleum (NYSE:CPE) gapped up before the market opened on Monday . The stock had previously closed at $8.49, but opened at $8.21. Callon Petroleum shares last traded at $8.09, with a volume of 181218 shares.
Several equities research analysts have recently commented on CPE shares. Zacks Investment Research upgraded Callon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 30th. Citigroup upgraded Callon Petroleum from a “neutral” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Wednesday, January 23rd. Capital One Financial cut Callon Petroleum from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 20th. Morgan Stanley started coverage on Callon Petroleum in a research note on Thursday, March 21st. They set an “equal weight” rating and a $9.00 price target for the company. Finally, Williams Capital restated a “buy” rating and set a $12.00 price target on shares of Callon Petroleum in a research note on Monday, February 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $14.06.
The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 9.78, a price-to-earnings-growth ratio of 0.84 and a beta of 1.53. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.71 and a quick ratio of 0.71.
Callon Petroleum (NYSE:CPE) last announced its quarterly earnings data on Tuesday, February 26th. The oil and natural gas company reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.05). Callon Petroleum had a return on equity of 8.11% and a net margin of 51.11%. The business had revenue of $161.90 million for the quarter, compared to analyst estimates of $164.50 million. As a group, research analysts predict that Callon Petroleum will post 0.87 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Callon Petroleum by 3.1% during the third quarter. Vanguard Group Inc. now owns 20,395,498 shares of the oil and natural gas company’s stock worth $244,542,000 after acquiring an additional 615,053 shares during the period. Man Group plc acquired a new stake in Callon Petroleum in the third quarter valued at $612,000. Tributary Capital Management LLC grew its holdings in Callon Petroleum by 22.2% in the fourth quarter. Tributary Capital Management LLC now owns 1,815,665 shares of the oil and natural gas company’s stock valued at $11,784,000 after purchasing an additional 330,401 shares during the last quarter. Ninepoint Partners LP acquired a new stake in Callon Petroleum in the fourth quarter valued at $5,192,000. Finally, AMI Asset Management Corp grew its holdings in Callon Petroleum by 0.5% in the fourth quarter. AMI Asset Management Corp now owns 460,701 shares of the oil and natural gas company’s stock valued at $2,990,000 after purchasing an additional 2,467 shares during the last quarter.
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Callon Petroleum Company Profile (NYSE:CPE)
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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