Northland Securities reaffirmed their buy rating on shares of Callon Petroleum Company (NYSE:CPE) in a research note issued to investors on Wednesday morning. The brokerage currently has a $18.00 price objective on the oil and natural gas company’s stock.

Several other equities analysts have also recently issued reports on the company. Bank of America Corporation started coverage on Callon Petroleum in a report on Monday, October 16th. They set a buy rating for the company. BMO Capital Markets set a $15.00 price objective on Callon Petroleum and gave the company a buy rating in a research report on Tuesday, October 10th. Jefferies Group LLC initiated coverage on Callon Petroleum in a research report on Monday, October 9th. They issued a buy rating and a $16.00 price objective for the company. Royal Bank Of Canada set a $16.00 price objective on Callon Petroleum and gave the company a buy rating in a research report on Thursday, August 24th. Finally, Imperial Capital initiated coverage on Callon Petroleum in a research report on Tuesday, August 15th. They issued an outperform rating and a $16.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $17.50.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.02). The business had revenue of $82.30 million during the quarter, compared to analyst estimates of $83.89 million. Callon Petroleum had a net margin of 34.61% and a return on equity of 4.16%. The firm’s quarterly revenue was up 82.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.61) earnings per share.

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A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wesbanco Bank Inc. bought a new stake in Callon Petroleum in the third quarter worth $373,000. Prudential Financial Inc. lifted its position in shares of Callon Petroleum by 534.7% during the third quarter. Prudential Financial Inc. now owns 122,915 shares of the oil and natural gas company’s stock worth $1,382,000 after purchasing an additional 103,550 shares during the last quarter. Parkwood LLC lifted its position in shares of Callon Petroleum by 76.7% during the third quarter. Parkwood LLC now owns 86,293 shares of the oil and natural gas company’s stock worth $970,000 after purchasing an additional 37,450 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in shares of Callon Petroleum by 10.3% during the third quarter. Wedge Capital Management L L P NC now owns 2,054,857 shares of the oil and natural gas company’s stock worth $23,097,000 after purchasing an additional 191,574 shares during the last quarter. Finally, Channing Capital Management LLC lifted its position in shares of Callon Petroleum by 14.9% during the third quarter. Channing Capital Management LLC now owns 2,922,978 shares of the oil and natural gas company’s stock worth $32,854,000 after purchasing an additional 379,381 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. The Company focuses on the acquisition and development of unconventional oil and natural gas reserves in the Permian Basin.

Analyst Recommendations for Callon Petroleum (NYSE:CPE)

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