Zacks Investment Research Upgrades Callon Petroleum (CPE) to “Hold”

Callon Petroleum (NYSE:CPE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released 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 brokerages have also weighed in on CPE. Citigroup lowered shares of Callon Petroleum from a “buy” rating to a “neutral” rating and set a $13.00 price objective on the stock. in a report on Wednesday, January 3rd. Scotiabank set a $16.00 price objective on shares of Callon Petroleum and gave the company a “buy” rating in a report on Saturday, November 25th. B. Riley started coverage on shares of Callon Petroleum in a report on Monday, February 5th. They set a “neutral” rating and a $11.75 price objective on the stock. Mizuho raised shares of Callon Petroleum from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Tuesday, November 21st. Finally, Bank of America started coverage on shares of Callon Petroleum in a report on Monday, October 16th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $16.39.

Shares of Callon Petroleum (NYSE:CPE) traded up $0.45 on Monday, hitting $10.71. 4,335,326 shares of the stock were exchanged, compared to its average volume of 5,050,739. The stock has a market capitalization of $2,070.84, a price-to-earnings ratio of 24.34 and a beta of 1.16. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.32. Callon Petroleum has a 12-month low of $9.34 and a 12-month high of $15.02.

Institutional investors have recently modified their holdings of the business. Zions Bancorporation acquired a new position in shares of Callon Petroleum in the third quarter worth about $105,000. Fondren Management LP acquired a new position in shares of Callon Petroleum in the second quarter worth about $106,000. BB&T Securities LLC acquired a new position in shares of Callon Petroleum in the third quarter worth about $112,000. Intrust Bank NA acquired a new position in shares of Callon Petroleum in the third quarter worth about $139,000. Finally, Virtu Financial LLC acquired a new position in shares of Callon Petroleum in the fourth quarter worth about $151,000.

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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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