Callon Petroleum (NYSE:CPE) Shares Gap Down to $4.36

Callon Petroleum (NYSE:CPE)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $4.24, but opened at $4.36. Callon Petroleum shares last traded at $4.51, with a volume of 254,075 shares.

Several research firms have recently commented on CPE. Williams Capital reduced their price objective on Callon Petroleum from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Northland Securities restated a “buy” rating and issued a $10.00 price objective on shares of Callon Petroleum in a research note on Wednesday, August 7th. Morgan Stanley set a $8.00 price objective on Callon Petroleum and gave the stock a “hold” rating in a research note on Monday, June 24th. Stephens set a $11.00 price objective on Callon Petroleum and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Finally, Capital One Financial upgraded Callon Petroleum from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $11.47.

The company has a market cap of $1.08 billion, a P/E ratio of 5.50, a P/E/G ratio of 0.58 and a beta of 1.46. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.47 and a current ratio of 0.47. The firm’s fifty day moving average is $4.48 and its two-hundred day moving average is $6.41.

Callon Petroleum (NYSE:CPE) last issued its earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The company had revenue of $167.05 million during the quarter, compared to the consensus estimate of $163.05 million. Callon Petroleum had a net margin of 35.72% and a return on equity of 7.57%. Callon Petroleum’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 EPS. On average, equities research analysts expect that Callon Petroleum will post 0.75 EPS for the current year.

A number of institutional investors have recently modified their holdings of the stock. Hancock Whitney Corp boosted its holdings in Callon Petroleum by 13.1% in the 2nd quarter. Hancock Whitney Corp now owns 581,132 shares of the oil and natural gas company’s stock worth $3,830,000 after buying an additional 67,264 shares during the period. Atria Investments LLC bought a new position in Callon Petroleum in the 2nd quarter worth $3,419,000. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Callon Petroleum by 10.7% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,392,232 shares of the oil and natural gas company’s stock worth $55,305,000 after buying an additional 811,139 shares during the period. United Services Automobile Association boosted its holdings in Callon Petroleum by 15.9% in the 2nd quarter. United Services Automobile Association now owns 781,701 shares of the oil and natural gas company’s stock worth $5,151,000 after buying an additional 107,362 shares during the period. Finally, MidWestOne Financial Group Inc. bought a new position in Callon Petroleum in the 2nd quarter worth $126,000.

Callon Petroleum Company Profile (NYSE:CPE)

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 and southeastern New Mexico. As of December 31, 2018, its estimated net proved reserves totaled 238.5 million barrel of oil equivalent, including 180.1 MMBbls of oil and 350.5 Bcf of natural gas.

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