Callon Petroleum Company (NYSE:CPE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.

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

A number of other research analysts have also recently commented on CPE. Roth Capital set a $23.00 price target on shares of Callon Petroleum and gave the stock a “buy” rating in a report on Saturday, April 1st. Scotiabank set a $18.00 price target on shares of Callon Petroleum and gave the stock a “buy” rating in a report on Monday, April 3rd. Stifel Nicolaus initiated 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. Eurobank EFG upgraded 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. Finally, EuroPacific Canada upgraded shares of Callon Petroleum from a “neutral” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Thursday, April 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have given a buy rating to the company. Callon Petroleum presently has a consensus rating of “Buy” and an average target price of $17.73.

Shares of Callon Petroleum (NYSE:CPE) traded up 0.64% during midday trading on Monday, hitting $10.95. 3,211,390 shares of the stock were exchanged. Callon Petroleum has a 12 month low of $9.63 and a 12 month high of $18.53. The firm has a 50 day moving average of $10.69 and a 200-day moving average of $12.57. The stock’s market cap is $2.20 billion.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results on Tuesday, May 2nd. The oil and natural gas company reported $0.10 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.10. The firm had revenue of $81.36 million for the quarter, compared to analysts’ expectations of $80.22 million. Callon Petroleum had a negative net margin of 1.42% and a positive return on equity of 4.23%. Equities research analysts anticipate that Callon Petroleum will post $0.57 EPS for the current year.

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Several institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc raised its position in shares of Callon Petroleum by 13.1% in the first quarter. Legal & General Group Plc now owns 12,043 shares of the oil and natural gas company’s stock valued at $106,000 after buying an additional 1,395 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Callon Petroleum by 86.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,389 shares of the oil and natural gas company’s stock valued at $110,000 after buying an additional 3,896 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Callon Petroleum by 296.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,362 shares of the oil and natural gas company’s stock valued at $114,000 after buying an additional 5,506 shares during the last quarter. Capital Fund Management S.A. bought a new position in shares of Callon Petroleum during the second quarter valued at approximately $116,000. Finally, Genesee Valley Trust Co. bought a new position in shares of Callon Petroleum during the second quarter valued at approximately $119,000.

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. 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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