Callon Petroleum (NYSE:CPE) shares traded down 5.4% on Wednesday . The stock traded as low as $10.74 and last traded at $10.76. 6,093,917 shares traded hands during trading, an increase of 22% from the average session volume of 4,980,200 shares. The stock had previously closed at $11.37.

Several research analysts have weighed in on the company. Scotiabank set a $16.00 price objective on Callon Petroleum and gave the stock a “buy” rating in a research report on Saturday, November 25th. Mizuho upgraded Callon Petroleum from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Tuesday, November 21st. Jefferies Group initiated coverage on Callon Petroleum in a research report on Monday, October 9th. They issued a “buy” rating and a $16.00 price target on the stock. BMO Capital Markets set a $15.00 price target on Callon Petroleum and gave the stock a “buy” rating in a research report on Tuesday, November 14th. Finally, Imperial Capital initiated coverage on Callon Petroleum in a research report on Tuesday, August 15th. They issued an “outperform” rating and a $16.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-two have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $17.43.

The firm has a market cap of $2,220.00, a P/E ratio of 31.50 and a beta of 1.32. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.32.

Callon Petroleum (NYSE:CPE) last released its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). The business had revenue of $84.60 million during the quarter, compared to analyst estimates of $81.98 million. Callon Petroleum had a net margin of 30.20% and a return on equity of 4.05%. The business’s quarterly revenue was up 51.3% compared to the same quarter last year. During the same period last year, the business earned $0.09 earnings per share. research analysts expect that Callon Petroleum will post 0.39 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Vaughan Nelson Investment Management L.P. boosted its stake in Callon Petroleum by 61.0% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 4,631,425 shares of the oil and natural gas company’s stock valued at $52,057,000 after buying an additional 1,755,125 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Callon Petroleum by 24.0% in the second quarter. Victory Capital Management Inc. now owns 2,203,067 shares of the oil and natural gas company’s stock valued at $23,375,000 after buying an additional 425,767 shares in the last quarter. Rhumbline Advisers boosted its stake in Callon Petroleum by 16.0% in the second quarter. Rhumbline Advisers now owns 250,714 shares of the oil and natural gas company’s stock valued at $2,660,000 after buying an additional 34,532 shares in the last quarter. Voya Investment Management LLC boosted its stake in Callon Petroleum by 22.8% in the second quarter. Voya Investment Management LLC now owns 93,670 shares of the oil and natural gas company’s stock valued at $994,000 after buying an additional 17,410 shares in the last quarter. Finally, Cipher Capital LP boosted its stake in Callon Petroleum by 45.7% in the second quarter. Cipher Capital LP now owns 591,418 shares of the oil and natural gas company’s stock valued at $6,275,000 after buying an additional 185,523 shares in the last quarter.

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About Callon Petroleum

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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