Callon Petroleum Company (NYSE:CPE) had its target price lowered by investment analysts at Citigroup Inc. from $15.00 to $14.00 in a report released on Friday. The firm currently has a “buy” rating on the oil and natural gas company’s stock. Citigroup Inc.’s price objective would suggest a potential upside of 28.68% from the company’s previous close.

Several other research firms have also commented on CPE. Seaport Global Securities lowered shares of Callon Petroleum from a “buy” rating to a “neutral” rating and decreased their price target for the company from $19.00 to $10.00 in a research report on Wednesday, June 21st. Royal Bank Of Canada set a $20.00 price target on shares of Callon Petroleum and gave the company a “buy” rating in a research report on Tuesday, April 25th. BMO Capital Markets set a $16.00 price target on shares of Callon Petroleum and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Zacks Investment Research lowered shares of Callon Petroleum from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Scotiabank reissued a “buy” rating and set a $18.00 price target on shares of Callon Petroleum in a research report on Monday, May 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-two have given a buy rating to the company’s stock. Callon Petroleum currently has a consensus rating of “Buy” and an average target price of $17.73.

Shares of Callon Petroleum (CPE) traded down 1.45% on Friday, reaching $10.88. 4,087,099 shares of the company were exchanged. Callon Petroleum has a 52 week low of $9.63 and a 52 week high of $18.53. The company’s 50-day moving average is $10.69 and its 200-day moving average is $12.57. The company’s market capitalization is $2.19 billion.

Callon Petroleum (NYSE:CPE) last released its quarterly earnings results on Tuesday, May 2nd. The oil and natural gas company reported $0.10 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.10. The business had revenue of $81.36 million during the quarter, compared to analyst estimates of $80.22 million. Callon Petroleum had a negative net margin of 1.42% and a positive return on equity of 4.23%. On average, equities analysts expect that Callon Petroleum will post $0.58 EPS for the current fiscal year.

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A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Callon Petroleum by 96,684.2% in the first quarter. BlackRock Inc. now owns 12,101,893 shares of the oil and natural gas company’s stock valued at $159,259,000 after buying an additional 12,089,389 shares during the period. Wellington Management Group LLP increased its position in shares of Callon Petroleum by 29.0% in the first quarter. Wellington Management Group LLP now owns 21,117,124 shares of the oil and natural gas company’s stock valued at $277,902,000 after buying an additional 4,749,928 shares during the period. Channing Capital Management LLC acquired a new position in shares of Callon Petroleum during the first quarter valued at $34,810,000. Goldman Sachs Group Inc. increased its position in shares of Callon Petroleum by 56.3% in the first quarter. Goldman Sachs Group Inc. now owns 7,333,603 shares of the oil and natural gas company’s stock valued at $96,510,000 after buying an additional 2,642,192 shares during the period. Finally, FMR LLC increased its position in shares of Callon Petroleum by 15.7% in the first quarter. FMR LLC now owns 15,197,267 shares of the oil and natural gas company’s stock valued at $199,996,000 after buying an additional 2,067,650 shares during the period.

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.

Analyst Recommendations for Callon Petroleum (NYSE:CPE)

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