Callon Petroleum Company (NYSE:CPE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

According to Zacks, “Callon Petroleum Company has been engaged in the exploration, development, acquisition and production of oil and gas properties since 1950. “

Other equities analysts have also issued research reports about the stock. Echelon Wealth Partners raised shares of Callon Petroleum to a “buy” rating and set a $17.00 target price on the stock in a research report on Thursday, April 13th. EuroPacific Canada raised shares of Callon Petroleum from a “neutral” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Thursday, April 13th. Eurobank EFG raised shares of Callon Petroleum from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Thursday, April 13th. Stifel Nicolaus started coverage on shares of Callon Petroleum in a report on Wednesday, April 12th. They issued a “buy” rating and a $21.00 price target on the stock. Finally, Scotiabank set a $18.00 price target on shares of Callon Petroleum and gave the company a “buy” rating in a report on Monday, April 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-two have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $17.77.

Shares of Callon Petroleum (CPE) traded down 1.21% on Tuesday, reaching $10.60. 4,421,362 shares of the company’s stock traded hands. The company’s 50-day moving average is $11.27 and its 200-day moving average is $13.10. Callon Petroleum has a 52 week low of $9.63 and a 52 week high of $18.53. The firm’s market capitalization is $2.13 billion.

Callon Petroleum (NYSE:CPE) last announced its earnings results on Tuesday, May 2nd. The oil and natural gas company reported $0.10 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.10. Callon Petroleum had a negative net margin of 1.42% and a positive return on equity of 4.23%. The business had revenue of $81.36 million for the quarter, compared to analyst estimates of $80.22 million. Equities research analysts anticipate that Callon Petroleum will post $0.58 earnings per share for the current fiscal year.

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Several hedge funds have recently made changes to their positions in CPE. United Capital Financial Advisers LLC boosted its stake in Callon Petroleum by 0.5% in the first quarter. United Capital Financial Advisers LLC now owns 75,065 shares of the oil and natural gas company’s stock worth $988,000 after buying an additional 380 shares during the last quarter. E&G Advisors LP boosted its stake in Callon Petroleum by 1.0% in the first quarter. E&G Advisors LP now owns 52,000 shares of the oil and natural gas company’s stock worth $684,000 after buying an additional 500 shares during the last quarter. Strs Ohio boosted its stake in Callon Petroleum by 6.5% in the first quarter. Strs Ohio now owns 9,800 shares of the oil and natural gas company’s stock worth $128,000 after buying an additional 600 shares during the last quarter. Quotient Investors LLC boosted its stake in Callon Petroleum by 5.6% in the first quarter. Quotient Investors LLC now owns 13,100 shares of the oil and natural gas company’s stock worth $172,000 after buying an additional 700 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in Callon Petroleum by 1.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 43,212 shares of the oil and natural gas company’s stock worth $664,000 after buying an additional 820 shares during the last quarter.

About Callon Petroleum

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. The Company focuses on the acquisition and development of unconventional oil and natural gas reserves in the Permian Basin.

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Analyst Recommendations for Callon Petroleum (NYSE:CPE)

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