Callon Petroleum Company (CPE) Coverage Initiated at Jefferies Group LLC

Jefferies Group LLC assumed coverage on shares of Callon Petroleum Company (NYSE:CPE) in a research note issued to investors on Monday, October 9th, MarketBeat Ratings reports. The firm issued a buy rating and a $16.00 target price on the oil and natural gas company’s stock. Jefferies Group also issued estimates for Callon Petroleum’s Q3 2017 earnings at $0.14 EPS, Q4 2017 earnings at $0.18 EPS, FY2017 earnings at $0.58 EPS, Q1 2018 earnings at $0.14 EPS, Q2 2018 earnings at $0.16 EPS, Q3 2018 earnings at $0.20 EPS, Q4 2018 earnings at $0.22 EPS, FY2018 earnings at $0.72 EPS, Q1 2019 earnings at $0.27 EPS, Q2 2019 earnings at $0.28 EPS, Q3 2019 earnings at $0.30 EPS and FY2019 earnings at $1.17 EPS.

Several other research firms have also issued reports on CPE. BidaskClub upgraded shares of Callon Petroleum from a strong sell rating to a sell rating in a report on Wednesday, June 14th. Zacks Investment Research upgraded shares of Callon Petroleum from a sell rating to a hold rating in a report on Tuesday, August 1st. Citigroup Inc. dropped their target price on shares of Callon Petroleum from $15.00 to $14.00 and set a buy rating on the stock in a report on Friday, July 21st. Northland Securities set a $18.00 price target on shares of Callon Petroleum and gave the company a buy rating in a research note on Monday, July 17th. Finally, Scotiabank set a $15.00 price target on shares of Callon Petroleum and gave the company a buy rating in a research note on Saturday, July 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $17.50.

Shares of Callon Petroleum (CPE) opened at 10.97 on Monday. The firm has a market capitalization of $2.21 billion, a PE ratio of 20.90 and a beta of 1.43. The company has a 50-day moving average price of $10.92 and a 200 day moving average price of $11.16. Callon Petroleum has a 52-week low of $9.34 and a 52-week high of $18.53.

Callon Petroleum (NYSE:CPE) last released its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.02). The firm had revenue of $82.30 million during the quarter, compared to analyst estimates of $83.89 million. Callon Petroleum had a net margin of 34.61% and a return on equity of 4.16%. Callon Petroleum’s quarterly revenue was up 82.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.61) EPS. Analysts expect that Callon Petroleum will post $0.47 EPS for the current fiscal year.

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A number of institutional investors have recently bought and sold shares of CPE. BlackRock Inc. increased its holdings in Callon Petroleum by 96,684.2% during the 1st quarter. BlackRock Inc. now owns 12,101,893 shares of the oil and natural gas company’s stock worth $159,259,000 after acquiring an additional 12,089,389 shares during the period. Dimensional Fund Advisors LP increased its holdings in Callon Petroleum by 180.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,185,506 shares of the oil and natural gas company’s stock worth $76,238,000 after acquiring an additional 4,622,758 shares during the period. Goldman Sachs Group Inc. increased its holdings in Callon Petroleum by 56.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,333,603 shares of the oil and natural gas company’s stock worth $96,510,000 after acquiring an additional 2,642,192 shares during the period. Caymus Capital Partners L.P. increased its holdings in Callon Petroleum by 81.5% during the 2nd quarter. Caymus Capital Partners L.P. now owns 4,863,500 shares of the oil and natural gas company’s stock worth $51,602,000 after acquiring an additional 2,184,500 shares during the period. Finally, FMR LLC increased its holdings in Callon Petroleum by 15.7% during the 1st quarter. FMR LLC now owns 15,197,267 shares of the oil and natural gas company’s stock worth $199,996,000 after acquiring an additional 2,067,650 shares during the period.

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.

Analyst Recommendations for Callon Petroleum (NYSE:CPE)

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