Callon Petroleum (CPE) Cut to Strong Sell at ValuEngine

ValuEngine lowered shares of Callon Petroleum (NYSE:CPE) from a sell rating to a strong sell rating in a research note published on Saturday.

Several other research analysts have also weighed in on CPE. Zacks Investment Research reiterated a hold rating on shares of Callon Petroleum in a research report on Monday, November 12th. Cowen assumed coverage on Callon Petroleum in a research report on Thursday. They issued an outperform rating for the company. TheStreet lowered Callon Petroleum from a b- rating to a c+ rating in a research report on Tuesday, November 27th. KLR Group reiterated a buy rating and issued a $16.00 price objective on shares of Callon Petroleum in a research report on Monday, August 20th. Finally, Bank of America lowered their price objective on Callon Petroleum from $19.00 to $16.00 and set a buy rating for the company in a research report on Thursday, November 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $16.32.

Shares of Callon Petroleum stock opened at $8.55 on Friday. The company has a market capitalization of $1.95 billion, a P/E ratio of 20.36 and a beta of 1.06. Callon Petroleum has a fifty-two week low of $8.50 and a fifty-two week high of $14.65. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.46.

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. The company had revenue of $161.21 million during the quarter, compared to analyst estimates of $145.66 million. Callon Petroleum had a return on equity of 8.31% and a net margin of 30.70%. The firm’s revenue for the quarter was up 90.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 earnings per share. Equities research analysts predict that Callon Petroleum will post 0.88 EPS for the current year.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. People s United Financial Inc. boosted its holdings in 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 purchasing an additional 4,882 shares during the period. Liberty Mutual Group Asset Management Inc. boosted its holdings in 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 purchasing an additional 4,893 shares during the period. Strs Ohio boosted its holdings in 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 purchasing an additional 5,700 shares during the period. Arizona State Retirement System boosted its holdings in 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 purchasing an additional 5,931 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in 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 purchasing an additional 6,856 shares during the period.

Callon Petroleum Company Profile

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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