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Research analysts at Canaccord Genuity started coverage on shares of Callon Petroleum Company (NYSE:CPE) in a report released on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.

Callon Petroleum Company (NYSE:CPE) opened at 11.65 on Tuesday. Callon Petroleum Company has a one year low of $3.40 and a one year high of $11.75. The stock has a 50-day moving average of $10.59 and a 200-day moving average of $8.2. The company has a market cap of $471.2 million and a price-to-earnings ratio of 1620.00. Callon Petroleum Company also saw a large increase in short interest in June. As of June 13th, there was short interest totalling 2,650,279 shares, an increase of 61.6% from the May 30th total of 1,639,807 shares. Based on an average daily trading volume, of 751,339 shares, the days-to-cover ratio is currently 3.5 days. Currently, 6.8% of the shares of the stock are sold short.

Callon Petroleum Company (NYSE:CPE) last released its earnings data on Thursday, May 8th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the 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. The company’s revenue for the quarter was up 47.7% on a year-over-year basis. Analysts expect that Callon Petroleum Company will post $0.54 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on CPE. Analysts at Maxim Group initiated coverage on shares of Callon Petroleum Company in a research note on Wednesday, June 11th. They set a “buy” rating and a $14.00 price target on the stock. Separately, analysts at Imperial Capital initiated coverage on shares of Callon Petroleum Company in a research note on Friday, May 30th. They set an “outperform” rating and a $13.00 price target on the stock. Finally, analysts at Capital One Financial Corp. upgraded shares of Callon Petroleum Company from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, May 21st. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Callon Petroleum Company has an average rating of “Buy” and a consensus price target of $10.60.

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

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