Callon Petroleum (NYSE:CPE) Shares Gap Down to $3.34

Callon Petroleum (NYSE:CPE) gapped down before the market opened on Friday . The stock had previously closed at $3.28, but opened at $3.34. Callon Petroleum shares last traded at $3.20, with a volume of 8,576,983 shares.

CPE has been the subject of several analyst reports. Williams Capital set a $8.00 price objective on Callon Petroleum and gave the stock a “buy” rating in a research report on Monday, October 21st. Northland Securities reiterated a “buy” rating and set a $7.00 price objective on shares of Callon Petroleum in a research report on Monday, November 18th. Imperial Capital boosted their price objective on Callon Petroleum from $10.00 to $13.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Morgan Stanley reduced their price objective on 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. Finally, Credit Suisse Group downgraded Callon Petroleum from an “outperform” rating to a “neutral” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $9.57.

The company has a market cap of $803.92 million, a P/E ratio of 3.12, a PEG ratio of 0.16 and a beta of 1.60. The company has a fifty day simple moving average of $4.37 and a 200-day simple moving average of $4.43. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.55 and a quick ratio of 0.55.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The company had revenue of $155.38 million for the quarter, compared to analysts’ expectations of $152.61 million. Callon Petroleum had a return on equity of 7.48% and a net margin of 38.86%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 earnings per share. On average, analysts anticipate that Callon Petroleum will post 0.74 EPS for the current year.

Large investors have recently made changes to their positions in the business. First National Bank of Omaha raised its stake in Callon Petroleum by 89.5% during the 4th quarter. First National Bank of Omaha now owns 346,542 shares of the oil and natural gas company’s stock valued at $1,674,000 after purchasing an additional 163,671 shares during the period. FTB Advisors Inc. increased its stake in shares of Callon Petroleum by 94.2% in the fourth quarter. FTB Advisors Inc. now owns 8,208 shares of the oil and natural gas company’s stock worth $39,000 after acquiring an additional 3,982 shares during the last quarter. BBVA USA Bancshares Inc. acquired a new position in shares of Callon Petroleum in the third quarter worth $458,000. Ancora Advisors LLC acquired a new position in shares of Callon Petroleum in the third quarter worth $87,000. Finally, Virtu Financial LLC increased its stake in shares of Callon Petroleum by 200.6% in the third quarter. Virtu Financial LLC now owns 177,883 shares of the oil and natural gas company’s stock worth $772,000 after acquiring an additional 118,703 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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