Callon Petroleum (CPE) Coverage Initiated by Analysts at Credit Suisse Group

Investment analysts at Credit Suisse Group initiated coverage on shares of Callon Petroleum (NYSE:CPE) in a report released on Monday. The firm set a “neutral” rating and a $12.00 price target on the oil and natural gas company’s stock. Credit Suisse Group’s price objective suggests a potential upside of 9.19% from the stock’s previous close.

A number of other equities research analysts have also recently commented on CPE. Imperial Capital started coverage on shares of Callon Petroleum in a research note on Tuesday, August 15th. They issued an “outperform” rating and a $16.00 price objective on the stock. Northland Securities set a $18.00 price objective on shares of Callon Petroleum and gave the company a “buy” rating in a research note on Monday, August 21st. Royal Bank of Canada set a $16.00 price objective on shares of Callon Petroleum and gave the company a “buy” rating in a research note on Thursday, August 24th. BMO Capital Markets reissued a “buy” rating and issued a $15.00 price objective on shares of Callon Petroleum in a research note on Wednesday, September 6th. Finally, Jefferies Group began coverage on shares of Callon Petroleum in a report on Monday, October 9th. They issued a “buy” rating and a $16.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $17.09.

Shares of Callon Petroleum (NYSE CPE) traded up $0.29 during midday trading on Monday, reaching $10.99. 3,557,000 shares of the company were exchanged, compared to its average volume of 4,967,141. The firm has a market cap of $2,159.65, a PE ratio of 29.72 and a beta of 1.33. Callon Petroleum has a 12-month low of $9.34 and a 12-month high of $18.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.84 and a current ratio of 0.84.

Callon Petroleum (NYSE:CPE) last issued its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.01). The business had revenue of $84.60 million during the quarter, compared to analyst estimates of $81.98 million. Callon Petroleum had a net margin of 30.20% and a return on equity of 4.05%. Callon Petroleum’s revenue was up 51.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share. analysts predict that Callon Petroleum will post 0.39 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the company. Zions Bancorporation purchased a new position in shares of Callon Petroleum during the 3rd quarter worth about $105,000. Fondren Management LP purchased a new position in shares of Callon Petroleum during the 2nd quarter worth about $106,000. BB&T Securities LLC purchased a new position in shares of Callon Petroleum during the 3rd quarter worth about $112,000. FFT Wealth Management LLC purchased a new position in shares of Callon Petroleum during the 2nd quarter worth about $113,000. Finally, Intrust Bank NA purchased a new position in shares of Callon Petroleum during the 3rd quarter worth about $139,000.

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Callon Petroleum Company Profile

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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