FY2016 EPS Estimates for Callon Petroleum Co. (CPE) Lifted by Analyst

Posted by on Jul 30th, 2016

Callon Petroleum Co. (NYSE:CPE) – Analysts at SunTrust Banks lifted their FY2016 earnings per share estimates for Callon Petroleum in a report released on Wednesday. SunTrust Banks analyst N. Dingmann now anticipates that the firm will post earnings per share of $0.15 for the year, up from their prior estimate of $0.11.

CPE has been the topic of several other reports. Canaccord Genuity reiterated a “buy” rating and issued a $13.00 target price on shares of Callon Petroleum in a report on Thursday, May 5th. Stephens dropped their price target on Callon Petroleum from $11.00 to $9.00 and set an “overweight” rating on the stock in a research note on Monday, April 18th. Citigroup Inc. boosted their price target on Callon Petroleum from $12.00 to $12.50 and gave the company a “neutral” rating in a research note on Monday, July 18th. Roth Capital reissued a “buy” rating on shares of Callon Petroleum in a research note on Thursday, May 26th. Finally, Sterne Agee CRT reissued a “buy” rating on shares of Callon Petroleum in a research note on Monday, May 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Callon Petroleum presently has an average rating of “Buy” and an average price target of $12.36.

Shares of Callon Petroleum (NYSE:CPE) traded up 1.47% during mid-day trading on Thursday, reaching $11.07. The company’s stock had a trading volume of 1,576,949 shares. The company’s market capitalization is $1.34 billion. The firm’s 50 day moving average price is $11.58 and its 200-day moving average price is $9.28. Callon Petroleum has a 1-year low of $4.21 and a 1-year high of $12.56.

An institutional investor recently raised its position in Callon Petroleum stock. California State Teachers Retirement System raised its position in shares of Callon Petroleum Co. (NYSE:CPE) by 23.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 148,473 shares of the company’s stock after buying an additional 28,568 shares during the period. California State Teachers Retirement System owned approximately 0.22% of Callon Petroleum worth $1,238,000 as of its most recent filing with the SEC.

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. It focuses on unconventional, onshore, oil and natural gas reserves in the Permian Basin in West Texas and the Midland Basin.