Callon Petroleum (NYSE:CPE)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $4.04, but opened at $4.22. Callon Petroleum shares last traded at $4.20, with a volume of 8,427,989 shares.

Several research firms recently weighed in on CPE. Evercore ISI reissued a “hold” rating and set a $12.00 price objective on shares of Callon Petroleum in a research note on Thursday, August 8th. Capital One Financial raised shares of Callon Petroleum from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 23rd. Imperial Capital reduced their price objective on shares of Callon Petroleum from $16.00 to $11.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 16th. Jefferies Financial Group lowered shares of Callon Petroleum from a “buy” rating to a “hold” rating and set a $11.00 price objective on the stock. in a research note on Monday, July 15th. Finally, Northland Securities reissued a “buy” rating and set a $10.00 price objective on shares of Callon Petroleum in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $11.89.

The company has a debt-to-equity ratio of 0.44, a current ratio of 0.47 and a quick ratio of 0.47. The stock’s 50 day simple moving average is $5.43 and its two-hundred day simple moving average is $6.89. The stock has a market cap of $1.07 billion, a P/E ratio of 5.23, a price-to-earnings-growth ratio of 0.55 and a beta of 1.44.

Callon Petroleum (NYSE:CPE) last announced its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.18 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.18. Callon Petroleum had a net margin of 35.72% and a return on equity of 7.57%. The firm had revenue of $167.05 million for the quarter, compared to analyst estimates of $163.05 million. During the same quarter in the previous year, the firm posted $0.23 earnings per share. The business’s revenue was up 21.9% on a year-over-year basis. As a group, analysts forecast that Callon Petroleum will post 0.77 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in CPE. Morgan Stanley lifted its stake in Callon Petroleum by 212.7% in the second quarter. Morgan Stanley now owns 3,999,820 shares of the oil and natural gas company’s stock valued at $26,359,000 after buying an additional 2,720,650 shares in the last quarter. AQR Capital Management LLC lifted its stake in Callon Petroleum by 5,662.1% in the second quarter. AQR Capital Management LLC now owns 2,507,367 shares of the oil and natural gas company’s stock valued at $16,273,000 after buying an additional 2,463,852 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in Callon Petroleum by 52.7% in the first quarter. Westwood Holdings Group Inc. now owns 5,591,310 shares of the oil and natural gas company’s stock valued at $42,214,000 after buying an additional 1,929,367 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in Callon Petroleum by 44.6% in the second quarter. Nuveen Asset Management LLC now owns 5,342,720 shares of the oil and natural gas company’s stock valued at $35,208,000 after buying an additional 1,647,886 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Callon Petroleum by 184.1% in the second quarter. JPMorgan Chase & Co. now owns 2,338,135 shares of the oil and natural gas company’s stock valued at $14,894,000 after purchasing an additional 1,515,172 shares during the last quarter.

Callon Petroleum Company Profile (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.

Further Reading: What are the advantages to having securities held in street name?

Receive News & Ratings for Callon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.