Callon Petroleum Co. (CPE) Earns Outperform Rating from Analysts at BMO Capital Markets
Equities research analysts at BMO Capital Markets initiated coverage on shares of Callon Petroleum Co. (NYSE:CPE) in a research report issued on Thursday. The brokerage set an “outperform” rating on the stock.
Other equities research analysts have also recently issued research reports about the stock. Imperial Capital reiterated an “outperform” rating and set a $16.00 target price (up previously from $14.00) on shares of Callon Petroleum in a research report on Wednesday, August 10th. FBR & Co increased their target price on shares of Callon Petroleum from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, September 9th. Roth Capital set a $16.00 target price on shares of Callon Petroleum and gave the stock a “buy” rating in a research report on Wednesday, September 7th. Citigroup Inc. began coverage on shares of Callon Petroleum in a research report on Wednesday, June 29th. They set a “neutral” rating and a $12.00 target price for the company. Finally, US Capital Advisors reiterated a “buy” rating on shares of Callon Petroleum in a research report on Monday, June 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Callon Petroleum currently has a consensus rating of “Buy” and an average target price of $14.73.
Shares of Callon Petroleum (NYSE:CPE) opened at 14.90 on Thursday. Callon Petroleum has a 12 month low of $4.21 and a 12 month high of $15.91. The company has a 50 day moving average of $14.08 and a 200 day moving average of $11.36. The stock’s market cap is $1.95 billion.
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Callon Petroleum (NYSE:CPE) last announced its earnings results on Monday, August 8th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by $0.65. The firm had revenue of $45.14 million for the quarter, compared to analyst estimates of $47.75 million. Callon Petroleum had a positive return on equity of 3.77% and a negative net margin of 233.91%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.11) EPS. Equities research analysts expect that Callon Petroleum will post $0.26 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in CPE. Goldman Sachs Group Inc. raised its position in shares of Callon Petroleum by 48.8% in the first quarter. Goldman Sachs Group Inc. now owns 741,152 shares of the company’s stock worth $6,559,000 after buying an additional 243,128 shares during the last quarter. Baker Avenue Asset Management LP raised its position in shares of Callon Petroleum by 73.2% in the first quarter. Baker Avenue Asset Management LP now owns 61,500 shares of the company’s stock worth $544,000 after buying an additional 26,000 shares during the last quarter. AXA bought a new position in shares of Callon Petroleum during the first quarter worth $445,000. Quadrature Capital Ltd bought a new position in shares of Callon Petroleum during the first quarter worth $790,000. Finally, Mesirow Financial Investment Management US Value Equity raised its position in shares of Callon Petroleum by 2.1% in the first quarter. Mesirow Financial Investment Management US Value Equity now owns 251,989 shares of the company’s stock worth $2,230,000 after buying an additional 5,213 shares during the last quarter. 83.12% of the stock is currently owned by hedge funds and other institutional investors.
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. It focuses on unconventional, onshore, oil and natural gas reserves in the Permian Basin in West Texas and the Midland Basin.
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