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Stock analysts at SunTrust increased their price target on shares of Callon Petroleum Company (NYSE:CPE) from $10.50 to $12.00 in a report issued on Friday. The firm currently has a “neutral” rating on the stock. SunTrust’s price target indicates a potential upside of 3.09% from the company’s current price.

Shares of Callon Petroleum Company (NYSE:CPE) traded down 5.93% on Friday, hitting $10.95. The stock had a trading volume of 608,592 shares. Callon Petroleum Company has a 52 week low of $3.70 and a 52 week high of $12.09. The stock’s 50-day moving average is $10.96 and its 200-day moving average is $8.57. The company has a market cap of $442.9 million and a P/E ratio of 1662.86. Callon Petroleum Company also was the recipient of a significant growth in short interest during the month of June. As of June 13th, there was short interest totalling 2,650,279 shares, a growth of 61.6% from the May 30th total of 1,639,807 shares. Approximately 6.8% of the company’s stock are short sold. Based on an average daily trading volume, of 751,339 shares, the short-interest ratio is currently 3.5 days.

Callon Petroleum Company (NYSE:CPE) last announced its earnings results on Thursday, May 8th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters 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 $0.56 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity initiated coverage on shares of Callon Petroleum Company in a research note on Tuesday, July 1st. They set a “buy” rating and a $14.00 price target on the stock. Separately, 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. Finally, 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. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Callon Petroleum Company currently has an average rating of “Buy” and an average target price of $10.95.

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

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