Callon Petroleum (NYSE:CPE) Sets New 12-Month Low at $32.98

Callon Petroleum (NYSE:CPEGet Rating) hit a new 52-week low during trading on Friday . The company traded as low as $32.98 and last traded at $33.45, with a volume of 28716 shares trading hands. The stock had previously closed at $36.05.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CPE. Truist Financial cut their target price on shares of Callon Petroleum from $101.00 to $94.00 and set a “buy” rating on the stock in a report on Wednesday, July 13th. Citigroup lifted their price target on Callon Petroleum from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, September 9th. Royal Bank of Canada upgraded Callon Petroleum from a “sector perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a report on Wednesday, July 6th. Morgan Stanley reduced their price objective on Callon Petroleum from $70.00 to $64.00 and set an “equal weight” rating for the company in a report on Monday, August 29th. Finally, Wells Fargo & Company cut their price target on Callon Petroleum from $78.00 to $70.00 and set an “equal weight” rating for the company in a research note on Monday, July 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Callon Petroleum currently has a consensus rating of “Hold” and an average price target of $71.63.

Callon Petroleum Trading Down 6.9 %

The stock has a market cap of $2.07 billion, a P/E ratio of 2.45 and a beta of 2.72. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 1.11. The company has a 50-day moving average price of $41.27 and a two-hundred day moving average price of $48.80.

Hedge Funds Weigh In On Callon Petroleum

Large investors have recently modified their holdings of the stock. Kimmeridge Energy Management Company LLC grew its position in Callon Petroleum by 89.1% in the 4th quarter. Kimmeridge Energy Management Company LLC now owns 11,700,780 shares of the oil and natural gas company’s stock valued at $552,862,000 after acquiring an additional 5,512,623 shares during the last quarter. BlackRock Inc. grew its position in shares of Callon Petroleum by 2.9% during the 1st quarter. BlackRock Inc. now owns 7,607,202 shares of the oil and natural gas company’s stock worth $449,433,000 after buying an additional 216,453 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Callon Petroleum by 23.8% during the 1st quarter. Vanguard Group Inc. now owns 4,481,218 shares of the oil and natural gas company’s stock worth $264,750,000 after buying an additional 860,487 shares in the last quarter. State Street Corp grew its position in shares of Callon Petroleum by 19.3% during the 1st quarter. State Street Corp now owns 3,532,124 shares of the oil and natural gas company’s stock worth $208,678,000 after buying an additional 572,216 shares in the last quarter. Finally, FMR LLC grew its position in shares of Callon Petroleum by 574.2% during the 2nd quarter. FMR LLC now owns 1,507,959 shares of the oil and natural gas company’s stock worth $59,112,000 after buying an additional 1,284,307 shares in the last quarter. Institutional investors own 87.85% of the company’s stock.

Callon Petroleum Company Profile

(Get Rating)

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, exploration, and development of oil and natural gas properties in Permian Basin in West Texas. As of December 31, 2021, its estimated net proved reserves totaled approximately 484.6 million barrel of oil equivalent, including 290.3 MMBbls oil, 577.3 Bcf of natural gas, and 98.1 MMBbls of natural gas liquids.

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