Shares of Callon Petroleum Company (NYSE:CPE) rose 4.5% on Tuesday . The stock traded as high as $10.26 and last traded at $10.56. Approximately 7,344,421 shares changed hands during trading, an increase of 77% from the average daily volume of 4,139,030 shares. The stock had previously closed at $10.11.
CPE has been the subject of several recent research reports. Credit Suisse Group reissued an “outperform” rating and set a $18.00 price objective on shares of Callon Petroleum in a report on Friday, June 2nd. Zacks Investment Research raised Callon Petroleum from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Roth Capital set a $23.00 price objective on Callon Petroleum and gave the stock a “buy” rating in a report on Friday, May 26th. Royal Bank Of Canada set a $16.00 price objective on Callon Petroleum and gave the stock a “buy” rating in a report on Thursday, August 24th. Finally, Citigroup Inc. dropped their price objective on Callon Petroleum from $17.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, July 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $17.54.
The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 20.88 and a beta of 1.44. The stock has a 50 day moving average price of $10.42 and a 200-day moving average price of $11.37.
Callon Petroleum (NYSE:CPE) last issued its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.02). The business had revenue of $82.30 million during the quarter, compared to the consensus estimate of $83.89 million. Callon Petroleum had a return on equity of 4.16% and a net margin of 34.61%. The company’s revenue for the quarter was up 82.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.61) earnings per share. Equities analysts anticipate that Callon Petroleum Company will post $0.50 earnings per share for the current year.
Hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Callon Petroleum by 86.7% during 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 acquiring an additional 3,896 shares in the last quarter. Strs Ohio increased its holdings in shares of Callon Petroleum by 6.5% during the first quarter. Strs Ohio now owns 9,800 shares of the oil and natural gas company’s stock valued at $128,000 after acquiring an additional 600 shares in the last quarter. Green Square Capital LLC bought a new stake in shares of Callon Petroleum during the first quarter valued at approximately $132,000. FFT Wealth Management LLC bought a new stake in shares of Callon Petroleum during the second quarter valued at approximately $113,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Callon Petroleum during the first quarter valued at approximately $143,000.
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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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