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Callon Petroleum Company (NYSE:CPE) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report issued on Wednesday. They currently have a $11.60 price target on the stock. Zacks‘s price objective suggests a potential upside of 20.46% from the company’s current price.

Shares of Callon Petroleum Company (NYSE:CPE) traded up 3.01% during mid-day trading on Wednesday, hitting $9.92. 601,880 shares of the company’s stock traded hands. Callon Petroleum Company has a one year low of $4.08 and a one year high of $12.09. The stock has a 50-day moving average of $10.87 and a 200-day moving average of $9.22. The company has a market cap of $405.2 million and a price-to-earnings ratio of 135.63.

Callon Petroleum Company (NYSE:CPE) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. The company had revenue of $40.50 million for the quarter, compared to the consensus estimate of $37.81 million. During the same quarter in the previous year, the company posted ($0.02) earnings per share. The company’s revenue for the quarter was up 77.6% on a year-over-year basis. Analysts expect that Callon Petroleum Company will post $0.58 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Brean Capital cut their price target on shares of Callon Petroleum Company from $13.00 to $12.00 in a research note on Friday, August 8th. They now have a “buy” rating on the stock. Finally, analysts at SunTrust raised their price target on shares of Callon Petroleum Company from $10.50 to $12.00 in a research note on Friday, July 11th. They now have a “neutral” rating on the stock. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $11.04.

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

To view Zacks’ full report, visit Zacks’ official website.

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