Callon Petroleum Company (NYSE:CPE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, July 18th.
According to Zacks, “Callon Petroleum Company has been engaged in the exploration, development, acquisition and production of oil and gas properties since 1950. “
A number of other equities analysts have also commented on the company. Evercore ISI lowered Callon Petroleum from an “outperform” rating to an “in-line” rating and dropped their price target for the company from $17.00 to $16.00 in a research note on Wednesday, April 19th. Scotiabank reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Callon Petroleum in a research note on Friday, May 5th. Eurobank EFG raised Callon Petroleum from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Thursday, April 13th. Echelon Wealth Partners upgraded Callon Petroleum to a “buy” rating and set a $17.00 price target on the stock in a report on Thursday, April 13th. Finally, ValuEngine upgraded Callon Petroleum from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. Callon Petroleum presently has a consensus rating of “Buy” and an average price target of $17.73.
Shares of Callon Petroleum (CPE) traded up 6.55% during trading on Tuesday, reaching $10.58. 6,113,918 shares of the company were exchanged. The company has a market capitalization of $2.14 billion, a PE ratio of 20.15 and a beta of 1.44. Callon Petroleum has a one year low of $9.63 and a one year high of $18.53. The firm’s 50 day moving average price is $10.70 and its 200 day moving average price is $12.29.
Callon Petroleum (NYSE:CPE) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by $0.02. Callon Petroleum had a net margin of 34.61% and a return on equity of 4.16%. The firm had revenue of $82.30 million for the quarter, compared to the consensus estimate of $83.89 million. During the same period in the previous year, the company posted ($0.61) earnings per share. Callon Petroleum’s quarterly revenue was up 82.5% on a year-over-year basis. Equities research analysts forecast that Callon Petroleum will post $0.55 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dubuque Bank & Trust Co. acquired a new position in Callon Petroleum during the first quarter worth approximately $192,000. BlackRock Inc. raised its stake in shares of Callon Petroleum by 96,684.2% in the first quarter. BlackRock Inc. now owns 12,101,893 shares of the oil and natural gas company’s stock worth $159,259,000 after buying an additional 12,089,389 shares during the last quarter. Amalgamated Bank raised its stake in shares of Callon Petroleum by 21.3% in the first quarter. Amalgamated Bank now owns 21,633 shares of the oil and natural gas company’s stock worth $285,000 after buying an additional 3,801 shares during the last quarter. Hancock Holding Co. raised its stake in shares of Callon Petroleum by 3.5% in the first quarter. Hancock Holding Co. now owns 728,776 shares of the oil and natural gas company’s stock worth $9,590,000 after buying an additional 24,363 shares during the last quarter. Finally, Viking Fund Management LLC raised its stake in shares of Callon Petroleum by 29.8% in the first quarter. Viking Fund Management LLC now owns 1,090,000 shares of the oil and natural gas company’s stock worth $14,344,000 after buying an additional 250,000 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.
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