JPMorgan Chase & Co. set a $9.00 price objective on Callon Petroleum (NYSE:CPE) in a research report sent to investors on Friday morning. The firm currently has a buy rating on the oil and natural gas company’s stock.

CPE has been the topic of several other reports. TheStreet raised shares of Callon Petroleum from a c+ rating to a b- rating in a research note on Monday, September 17th. Williams Capital set a $16.00 price target on shares of Callon Petroleum and gave the stock a buy rating in a research note on Wednesday, November 7th. Zacks Investment Research raised shares of Callon Petroleum from a hold rating to a buy rating and set a $13.00 price target on the stock in a research note on Tuesday, October 23rd. KLR Group reissued a buy rating and issued a $16.00 price target on shares of Callon Petroleum in a research note on Monday, August 20th. Finally, Piper Jaffray Companies reissued a buy rating and issued a $20.00 price target on shares of Callon Petroleum in a research note on Sunday, August 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $15.65.

Shares of NYSE CPE traded up $0.05 during trading on Friday, hitting $8.04. The company had a trading volume of 3,727,078 shares, compared to its average volume of 4,453,270. Callon Petroleum has a fifty-two week low of $7.63 and a fifty-two week high of $14.65. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 19.14 and a beta of 1.05. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.46.

Callon Petroleum (NYSE:CPE) last announced its earnings results on Tuesday, November 6th. The oil and natural gas company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. Callon Petroleum had a net margin of 30.70% and a return on equity of 8.31%. The business had revenue of $161.21 million for the quarter, compared to analyst estimates of $145.66 million. During the same quarter last year, the business earned $0.09 earnings per share. The company’s revenue for the quarter was up 90.5% compared to the same quarter last year. Equities research analysts anticipate that Callon Petroleum will post 0.88 EPS for the current fiscal year.

In other Callon Petroleum news, VP Mitzi P. Conn sold 15,000 shares of Callon Petroleum stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $11.76, for a total transaction of $176,400.00. Following the transaction, the vice president now directly owns 42,062 shares of the company’s stock, valued at $494,649.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. First Hawaiian Bank purchased a new position in Callon Petroleum during the third quarter worth about $107,000. Strs Ohio raised its stake in Callon Petroleum by 139.0% during the third quarter. Strs Ohio now owns 9,800 shares of the oil and natural gas company’s stock worth $117,000 after purchasing an additional 5,700 shares during the period. MML Investors Services LLC purchased a new position in Callon Petroleum during the third quarter worth about $144,000. Marietta Investment Partners LLC purchased a new position in Callon Petroleum during the second quarter worth about $153,000. Finally, HPM Partners LLC purchased a new position in Callon Petroleum during the second quarter worth about $161,000.

About Callon Petroleum

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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Analyst Recommendations for Callon Petroleum (NYSE:CPE)

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