Callon Petroleum (NYSE:CPE) has been assigned an average recommendation of “Buy” from the twenty-three ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $11.82.

Several analysts recently issued reports on CPE shares. Williams Capital cut their target price on shares of Callon Petroleum from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, July 16th. Roth Capital set a $12.00 target price on shares of Callon Petroleum and gave the company a “buy” rating in a research report on Friday, June 14th. SunTrust Banks set a $12.00 target price on shares of Callon Petroleum and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Evercore ISI restated a “hold” rating and set a $12.00 target price on shares of Callon Petroleum in a research report on Thursday, August 8th. Finally, Northland Securities restated a “buy” rating and set a $10.00 target price on shares of Callon Petroleum in a research report on Wednesday, August 7th.

Several institutional investors and hedge funds have recently bought and sold shares of CPE. Private Capital Group LLC boosted its position in shares of Callon Petroleum by 135.5% in the first quarter. Private Capital Group LLC now owns 4,164 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 2,396 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Callon Petroleum in the second quarter worth approximately $68,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Callon Petroleum in the fourth quarter worth approximately $73,000. Miller Investment Management LP bought a new position in shares of Callon Petroleum in the first quarter worth approximately $76,000. Finally, Cornerstone Investment Partners LLC bought a new position in shares of Callon Petroleum in the first quarter worth approximately $81,000.

Shares of CPE stock traded down $0.13 during trading hours on Tuesday, reaching $4.57. The company had a trading volume of 16,853,200 shares, compared to its average volume of 8,411,546. The business has a fifty day moving average of $5.51. Callon Petroleum has a one year low of $4.13 and a one year high of $13.09. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 5.57, a PEG ratio of 0.61 and a beta of 1.44. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.44.

Callon Petroleum (NYSE:CPE) last announced its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. The firm had revenue of $167.05 million during the quarter, compared to analyst estimates of $163.05 million. Callon Petroleum had a net margin of 35.72% and a return on equity of 7.57%. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 earnings per share. As a group, research analysts anticipate that Callon Petroleum will post 0.77 earnings per share for the current fiscal year.

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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