KLR Group reissued their buy rating on shares of Callon Petroleum Co. (NYSE:CPE) in a research report report published on Tuesday. The firm currently has a $21.00 price target on the stock, up from their prior price target of $18.00.

Several other equities analysts also recently weighed in on the company. FBR & Co lifted their target price on Callon Petroleum from $17.00 to $19.00 and gave the company an outperform rating in a research report on Friday, September 9th. Canaccord Genuity boosted their price objective on Callon Petroleum from $15.00 to $18.00 and gave the company a buy rating in a research report on Thursday, September 8th. RBC Capital Markets upgraded Callon Petroleum from a sector perform rating to an outperform rating and boosted their price objective for the company from $15.00 to $18.00 in a research report on Thursday, September 8th. They noted that the move was a valuation call. Royal Bank Of Canada upgraded Callon Petroleum from a sector perform rating to an outperform rating and boosted their price objective for the company from $15.00 to $18.00 in a research report on Thursday, September 8th. Finally, Roth Capital set a $16.00 price objective on Callon Petroleum and gave the company a buy rating in a research report on Wednesday, September 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $14.73.

Shares of Callon Petroleum (NYSE:CPE) opened at 14.48 on Tuesday. The company’s 50-day moving average price is $13.47 and its 200 day moving average price is $11.03. The stock’s market capitalization is $1.90 billion. Callon Petroleum has a one year low of $4.21 and a one year high of $15.91.

Callon Petroleum (NYSE:CPE) last released its earnings results on Monday, August 8th. The company reported ($0.61) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.65. The company had revenue of $45.14 million for the quarter, compared to analysts’ expectations of $47.75 million. Callon Petroleum had a negative net margin of 233.91% and a positive return on equity of 3.77%. Callon Petroleum’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.11) earnings per share. Analysts anticipate that Callon Petroleum will post $0.26 EPS for the current year.

Hedge funds have recently made changes to their positions in the stock. Independent Portfolio Consultants Inc. purchased a new stake in shares of Callon Petroleum during the first quarter worth about $291,000. Virginia Retirement System purchased a new stake in shares of Callon Petroleum during the first quarter worth about $1,467,000. Ramsey Quantitative Systems raised its stake in shares of Callon Petroleum by 23.9% in the first quarter. Ramsey Quantitative Systems now owns 71,114 shares of the company’s stock worth $629,000 after buying an additional 13,695 shares during the last quarter. Teachers Advisors Inc. raised its stake in shares of Callon Petroleum by 14.7% in the first quarter. Teachers Advisors Inc. now owns 1,539,780 shares of the company’s stock worth $13,627,000 after buying an additional 197,700 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Callon Petroleum by 12.4% in the first quarter. Franklin Resources Inc. now owns 4,717,958 shares of the company’s stock worth $41,754,000 after buying an additional 521,111 shares during the last quarter.

About Callon Petroleum

Callon Petroleum Company is an independent oil and natural gas company. The Company is engaged in the exploration, development, acquisition and production of oil and natural gas properties. It focuses on unconventional, onshore, oil and natural gas reserves in the Permian Basin in West Texas and the Midland Basin.

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