Callon Petroleum Company (NYSE:CPE) Price Target Lowered to $15.00 at Citigroup Inc.

Callon Petroleum Company (NYSE:CPE) had its target price lowered by Citigroup Inc. from $17.00 to $15.00 in a report issued on Thursday, July 13th. The brokerage currently has a buy rating on the oil and natural gas company’s stock.

Several other equities research analysts have also recently weighed in on CPE. UBS AG assumed coverage on shares of Callon Petroleum in a research report on Thursday, March 23rd. They issued a buy rating and a $16.00 price target on the stock. Roth Capital set a $23.00 price target on shares of Callon Petroleum and gave the stock a buy rating in a research report on Saturday, April 1st. Scotiabank set a $15.00 price objective on shares of Callon Petroleum and gave the company a buy rating in a research report on Saturday, July 1st. Credit Suisse Group reiterated an outperform rating and set a $18.00 price objective on shares of Callon Petroleum in a research report on Friday, June 2nd. Finally, Royal Bank Of Canada set a $20.00 price objective on shares of Callon Petroleum and gave the company a buy rating in a research report on Saturday, June 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $17.72.

Callon Petroleum (NYSE:CPE) traded down 0.57% during trading on Thursday, hitting $10.42. 2,426,336 shares of the company traded hands. Callon Petroleum has a 52 week low of $9.63 and a 52 week high of $18.53. The company’s 50 day moving average is $10.72 and its 200-day moving average is $12.11. The stock has a market capitalization of $2.10 billion, a PE ratio of 19.85 and a beta of 1.44.

Callon Petroleum (NYSE:CPE) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.11 by $0.02. Callon Petroleum had a return on equity of 4.16% and a net margin of 34.61%. The business had revenue of $82.30 million during the quarter, compared to the consensus estimate of $83.89 million. During the same quarter in the prior year, the firm posted ($0.61) EPS. The company’s revenue for the quarter was up 82.5% on a year-over-year basis. Analysts predict that Callon Petroleum will post $0.53 earnings per share for the current year.

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A number of hedge funds have recently added to or reduced their stakes in the company. Advisor Group Inc. raised its stake in Callon Petroleum by 16.5% in the second quarter. Advisor Group Inc. now owns 18,887 shares of the oil and natural gas company’s stock worth $200,000 after buying an additional 2,669 shares during the period. Suntrust Banks Inc. raised its stake in Callon Petroleum by 26.5% in the second quarter. Suntrust Banks Inc. now owns 32,582 shares of the oil and natural gas company’s stock worth $343,000 after buying an additional 6,834 shares during the period. M&T Bank Corp raised its stake in Callon Petroleum by 16.6% in the second quarter. M&T Bank Corp now owns 15,100 shares of the oil and natural gas company’s stock worth $160,000 after buying an additional 2,154 shares during the period. California Public Employees Retirement System raised its stake in Callon Petroleum by 2.2% in the second quarter. California Public Employees Retirement System now owns 627,900 shares of the oil and natural gas company’s stock worth $6,662,000 after buying an additional 13,600 shares during the period. Finally, ETRADE Capital Management LLC raised its stake in Callon Petroleum by 0.6% in the second quarter. ETRADE Capital Management LLC now owns 42,015 shares of the oil and natural gas company’s stock worth $446,000 after buying an additional 239 shares during the period.

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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