Piper Jaffray Companies Initiates Coverage on Callon Petroleum (CPE)

Piper Jaffray Companies began coverage on shares of Callon Petroleum (NYSE:CPE) in a report issued on Thursday morning, MarketBeat reports. The firm issued an overweight rating and a $15.00 price objective on the oil and natural gas company’s stock.

Other research analysts have also issued research reports about the company. Northland Securities set a $16.00 price target on Callon Petroleum and gave the stock a buy rating in a report on Monday, December 11th. BMO Capital Markets set a $15.00 price objective on Callon Petroleum and gave the stock a buy rating in a research report on Tuesday, October 10th. Bank of America assumed coverage on Callon Petroleum in a research report on Monday, October 16th. They set a buy rating for the company. Jefferies Group assumed coverage on Callon Petroleum in a research report on Monday, October 9th. They set a buy rating and a $16.00 price objective for the company. Finally, Scotiabank set a $16.00 price objective on Callon Petroleum and gave the stock a buy rating in a research report on Saturday, November 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have issued a buy rating to the company’s stock. Callon Petroleum currently has a consensus rating of Buy and an average target price of $16.65.

Callon Petroleum (NYSE CPE) traded down $0.02 during midday trading on Thursday, hitting $12.38. The stock had a trading volume of 5,167,500 shares, compared to its average volume of 4,957,400. Callon Petroleum has a fifty-two week low of $9.34 and a fifty-two week high of $16.27. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market cap of $2,510.00, a price-to-earnings ratio of 28.79 and a beta of 1.32.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). Callon Petroleum had a return on equity of 4.05% and a net margin of 30.20%. The company had revenue of $84.60 million for the quarter, compared to analysts’ expectations of $81.98 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The firm’s revenue was up 51.3% on a year-over-year basis. equities research analysts expect that Callon Petroleum will post 0.4 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CPE. ETRADE Capital Management LLC boosted its stake in shares of Callon Petroleum by 0.6% in the 2nd quarter. ETRADE Capital Management LLC now owns 42,015 shares of the oil and natural gas company’s stock valued at $446,000 after buying an additional 239 shares during the period. Blair William & Co. IL boosted its stake in shares of Callon Petroleum by 2.6% in the 2nd quarter. Blair William & Co. IL now owns 26,138 shares of the oil and natural gas company’s stock valued at $277,000 after buying an additional 670 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Callon Petroleum by 8.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 18,990 shares of the oil and natural gas company’s stock valued at $202,000 after buying an additional 1,555 shares during the period. Prudential Financial Inc. boosted its stake in shares of Callon Petroleum by 10.7% in the 2nd quarter. Prudential Financial Inc. now owns 19,365 shares of the oil and natural gas company’s stock valued at $205,000 after buying an additional 1,870 shares during the period. Finally, 1st Global Advisors Inc. boosted its stake in shares of Callon Petroleum by 6.0% in the 2nd quarter. 1st Global Advisors Inc. now owns 33,366 shares of the oil and natural gas company’s stock valued at $354,000 after buying an additional 1,879 shares during the period.

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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.

Analyst Recommendations for Callon Petroleum (NYSE:CPE)

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