Brokerages Set Callon Petroleum (CPE) Target Price at $16.50

Callon Petroleum (NYSE:CPE) has been assigned a consensus recommendation of “Buy” from the twenty-two ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and seventeen have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $16.50.

Several equities analysts have recently weighed in on the stock. KLR Group reaffirmed a “buy” rating and set a $16.00 price target on shares of Callon Petroleum in a research note on Monday, August 20th. ValuEngine cut shares of Callon Petroleum from a “sell” rating to a “strong sell” rating in a research note on Saturday. Williams Capital assumed coverage on shares of Callon Petroleum in a research note on Wednesday, October 24th. They set a “buy” rating and a $16.00 price target for the company. Piper Jaffray Companies reaffirmed a “buy” rating and set a $20.00 price target on shares of Callon Petroleum in a research note on Sunday, August 12th. Finally, TheStreet cut shares of Callon Petroleum from a “b-” rating to a “c+” rating in a research note on Tuesday, November 27th.

In related news, VP Mitzi P. Conn sold 15,000 shares of the firm’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $11.76, for a total value of $176,400.00. Following the completion of the transaction, the vice president now directly owns 42,062 shares of the company’s stock, valued at $494,649.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the stock. People s United Financial Inc. grew its stake in shares of Callon Petroleum by 8.1% in the second quarter. People s United Financial Inc. now owns 65,335 shares of the oil and natural gas company’s stock valued at $701,000 after buying an additional 4,882 shares in the last quarter. Liberty Mutual Group Asset Management Inc. grew its stake in shares of Callon Petroleum by 12.3% in the second quarter. Liberty Mutual Group Asset Management Inc. now owns 44,645 shares of the oil and natural gas company’s stock valued at $479,000 after buying an additional 4,893 shares in the last quarter. Strs Ohio grew its stake in shares of Callon Petroleum by 139.0% in the third quarter. Strs Ohio now owns 9,800 shares of the oil and natural gas company’s stock valued at $117,000 after buying an additional 5,700 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Callon Petroleum by 3.8% in the third quarter. Arizona State Retirement System now owns 161,585 shares of the oil and natural gas company’s stock valued at $1,937,000 after buying an additional 5,931 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Callon Petroleum by 26.7% in the third 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 buying an additional 6,856 shares in the last quarter.

Shares of CPE stock opened at $8.55 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.57 and a current ratio of 0.57. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 20.36 and a beta of 1.06. Callon Petroleum has a 52 week low of $8.50 and a 52 week high of $14.65.

Callon Petroleum (NYSE:CPE) last announced its earnings results on Tuesday, November 6th. The oil and natural gas company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.20 by $0.01. The firm had revenue of $161.21 million for the quarter, compared to the consensus estimate of $145.66 million. Callon Petroleum had a net margin of 30.70% and a return on equity of 8.31%. The business’s quarterly revenue was up 90.5% on a year-over-year basis. During the same period last year, the company posted $0.09 EPS. On average, analysts forecast that Callon Petroleum will post 0.88 EPS for the current year.

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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Analyst Recommendations for Callon Petroleum (NYSE:CPE)

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