Callon Petroleum (NYSE:CPE) had its target price decreased by analysts at Bank of America from $19.00 to $16.00 in a research report issued on Thursday. The firm currently has a “buy” rating on the oil and natural gas company’s stock. Bank of America’s target price would indicate a potential upside of 53.70% from the company’s previous close.

CPE has been the topic of a number of other research reports. TheStreet upgraded shares of Callon Petroleum from a “c+” rating to a “b-” rating in a report on Monday, September 17th. ValuEngine upgraded shares of Callon Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, September 13th. Oppenheimer assumed coverage on shares of Callon Petroleum in a report on Wednesday, October 3rd. They issued an “outperform” rating and a $16.00 target price on the stock. Zacks Investment Research upgraded shares of Callon Petroleum from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Wednesday, July 18th. Finally, Barclays assumed coverage on shares of Callon Petroleum in a report on Wednesday, August 29th. They issued an “overweight” rating and a $14.00 target price on the stock. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $16.14.

Shares of NYSE:CPE traded down $0.15 during mid-day trading on Thursday, reaching $10.41. 5,925,735 shares of the company’s stock were exchanged, compared to its average volume of 5,162,984. The firm has a market cap of $2.52 billion, a PE ratio of 24.79 and a beta of 1.06. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.61 and a current ratio of 0.57. Callon Petroleum has a twelve month low of $9.23 and a twelve month high of $14.65.

Callon Petroleum (NYSE:CPE) last issued its quarterly earnings results on Tuesday, November 6th. The oil and natural gas company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $161.21 million for the quarter, compared to analyst estimates of $145.66 million. Callon Petroleum had a net margin of 30.70% and a return on equity of 8.31%. Callon Petroleum’s revenue was up 90.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.09 earnings per share. Sell-side analysts forecast that Callon Petroleum will post 0.88 EPS for the current year.

In related news, VP Mitzi P. Conn sold 15,000 shares of the business’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 transaction, the vice president now 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 through this link. 0.82% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC increased its stake in Callon Petroleum by 6.9% in the third quarter. FMR LLC now owns 2,933,185 shares of the oil and natural gas company’s stock valued at $35,169,000 after purchasing an additional 188,291 shares in the last quarter. American International Group Inc. increased its stake in Callon Petroleum by 2.8% in the third quarter. American International Group Inc. now owns 610,005 shares of the oil and natural gas company’s stock valued at $7,314,000 after purchasing an additional 16,515 shares in the last quarter. BlackRock Inc. increased its stake in Callon Petroleum by 2.9% in the third quarter. BlackRock Inc. now owns 25,561,708 shares of the oil and natural gas company’s stock valued at $306,486,000 after purchasing an additional 731,444 shares in the last quarter. Gluskin Sheff & Assoc Inc. increased its stake in Callon Petroleum by 7.7% in the third quarter. Gluskin Sheff & Assoc Inc. now owns 279,780 shares of the oil and natural gas company’s stock valued at $3,355,000 after purchasing an additional 19,940 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake 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 in the last quarter.

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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