CPE has been the subject of several other research reports. TheStreet upgraded shares of Callon Petroleum from a c+ rating to a b- rating in a research note on Monday, September 17th. ValuEngine upgraded shares of Callon Petroleum from a sell rating to a hold rating in a research note on Thursday, September 13th. Oppenheimer initiated coverage on shares of Callon Petroleum in a research note on Wednesday, October 3rd. They issued an outperform rating and a $16.00 price objective for the company. Zacks Investment Research upgraded shares of Callon Petroleum from a hold rating to a buy rating and set a $12.00 price objective for the company in a research note on Wednesday, July 18th. Finally, Barclays initiated coverage on shares of Callon Petroleum in a research note on Wednesday, August 29th. They issued an overweight rating and a $14.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $16.14.
Callon Petroleum stock traded down $0.15 during midday trading on Wednesday, hitting $10.41. The company’s stock had a trading volume of 5,925,735 shares, compared to its average volume of 5,162,984. Callon Petroleum has a 1-year low of $9.23 and a 1-year high of $14.65. The company has a quick ratio of 2.61, a current ratio of 0.57 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 24.79 and a beta of 1.06.
Callon Petroleum (NYSE:CPE) last issued its quarterly earnings data on Tuesday, November 6th. The oil and natural gas company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. Callon Petroleum had a net margin of 30.70% and a return on equity of 8.31%. The business had revenue of $161.21 million during the quarter, compared to analysts’ expectations of $145.66 million. During the same quarter in the previous year, the company earned $0.09 EPS. The business’s revenue was up 90.5% on a year-over-year basis. On average, sell-side analysts anticipate that Callon Petroleum will post 0.88 earnings per share for the current fiscal year.
In other Callon Petroleum news, VP Mitzi P. Conn sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $11.76, for a total value of $176,400.00. Following the transaction, the vice president now directly owns 42,062 shares of the company’s stock, valued at approximately $494,649.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.82% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its holdings in Callon Petroleum by 6.9% in the 3rd quarter. FMR LLC now owns 2,933,185 shares of the oil and natural gas company’s stock valued at $35,169,000 after buying an additional 188,291 shares during the period. American International Group Inc. increased its holdings in Callon Petroleum by 2.8% in the 3rd quarter. American International Group Inc. now owns 610,005 shares of the oil and natural gas company’s stock valued at $7,314,000 after buying an additional 16,515 shares during the period. BlackRock Inc. increased its holdings in Callon Petroleum by 2.9% in the 3rd quarter. BlackRock Inc. now owns 25,561,708 shares of the oil and natural gas company’s stock valued at $306,486,000 after buying an additional 731,444 shares during the period. Gluskin Sheff & Assoc Inc. increased its holdings in Callon Petroleum by 7.7% in the 3rd quarter. Gluskin Sheff & Assoc Inc. now owns 279,780 shares of the oil and natural gas company’s stock valued at $3,355,000 after buying an additional 19,940 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Callon Petroleum by 26.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 32,568 shares of the oil and natural gas company’s stock valued at $389,000 after purchasing an additional 6,856 shares during the last quarter.
About Callon Petroleum
Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional onshore, oil, and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2017, its estimated net proved reserves totaled 137.0 million barrel of oil equivalent.
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