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Callon Petroleum Company (NYSE:CPE) was upgraded by analysts at Northland Securities from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday, StockRatingsNetwork.com reports. The firm currently has a $12.00 price target on the stock, up from their previous price target of $7.00. Northland Securities’ target price indicates a potential upside of 26.72% from the stock’s previous close.

Callon Petroleum Company (NYSE:CPE) opened at 9.47 on Monday. Callon Petroleum Company has a 52-week low of $3.19 and a 52-week high of $9.98. The stock’s 50-day moving average is $8.87 and its 200-day moving average is $7.26. The company has a market cap of $382.3 million and a price-to-earnings ratio of 1271.43.

Callon Petroleum Company (NYSE:CPE) last released its earnings data on Thursday, May 8th. The company reported $0.11 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.05 by $0.06. The company had revenue of $33.29 million for the quarter, compared to the consensus estimate of $28.47 million. Callon Petroleum Company’s revenue was up 47.7% compared to the same quarter last year. Analysts expect that Callon Petroleum Company will post $0.31 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Brean Capital initiated coverage on shares of Callon Petroleum Company in a research note on Friday. They set a “buy” rating and a $12.00 price target on the stock. Separately, analysts at SunTrust raised their price target on shares of Callon Petroleum Company from $7.50 to $7.75 in a research note on Wednesday, April 2nd. Finally, analysts at Noble Financial downgraded shares of Callon Petroleum Company from a “buy” rating to a “hold” rating in a research note on Thursday, March 20th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $8.81.

Callon Petroleum Company (NYSE:CPE) is an independent oil and natural gas company.

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