Callon Petroleum (NYSE:CPE) Reaches New 12-Month Low at $3.67

Callon Petroleum (NYSE:CPE) shares hit a new 52-week low on Tuesday . The stock traded as low as $3.67 and last traded at $3.68, with a volume of 18133031 shares traded. The stock had previously closed at $3.94.

Several brokerages have recently weighed in on CPE. Evercore ISI reaffirmed a “hold” rating and issued a $12.00 price target on shares of Callon Petroleum in a research report on Thursday, August 8th. Citigroup lowered their price target on shares of Callon Petroleum from $10.00 to $8.50 and set a “buy” rating for the company in a research report on Monday, September 23rd. Barclays lowered their price target on shares of Callon Petroleum from $9.00 to $6.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. ValuEngine raised shares of Callon Petroleum from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley lowered their price target on shares of Callon Petroleum from $6.25 to $4.75 and set an “equal weight” rating for the company in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $9.63.

The stock’s 50-day moving average is $4.09 and its 200 day moving average is $5.28. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.55 and a quick ratio of 0.55. The company has a market cap of $998.05 million, a PE ratio of 4.49, a PEG ratio of 0.34 and a beta of 1.46.

Callon Petroleum (NYSE:CPE) last posted its earnings results on Monday, November 4th. The oil and natural gas company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. Callon Petroleum had a net margin of 38.86% and a return on equity of 7.48%. The company had revenue of $155.38 million during the quarter, compared to analysts’ expectations of $152.61 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. Callon Petroleum’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, analysts expect that Callon Petroleum will post 0.72 EPS for the current year.

A number of large investors have recently bought and sold shares of CPE. First National Bank of Omaha lifted its position in Callon Petroleum by 11.6% during the second quarter. First National Bank of Omaha now owns 181,403 shares of the oil and natural gas company’s stock valued at $1,195,000 after acquiring an additional 18,839 shares during the last quarter. Tributary Capital Management LLC lifted its position in Callon Petroleum by 6.7% during the second quarter. Tributary Capital Management LLC now owns 2,238,659 shares of the oil and natural gas company’s stock valued at $14,753,000 after acquiring an additional 140,613 shares during the last quarter. CWM Advisors LLC lifted its position in Callon Petroleum by 29.3% during the second quarter. CWM Advisors LLC now owns 26,455 shares of the oil and natural gas company’s stock valued at $174,000 after acquiring an additional 5,995 shares during the last quarter. Moody Aldrich Partners LLC lifted its position in Callon Petroleum by 52.9% during the second quarter. Moody Aldrich Partners LLC now owns 576,267 shares of the oil and natural gas company’s stock valued at $3,798,000 after acquiring an additional 199,346 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Callon Petroleum by 0.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 540,255 shares of the oil and natural gas company’s stock valued at $3,560,000 after acquiring an additional 2,323 shares during the last quarter.

About Callon Petroleum (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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