Callon Petroleum (CPE) PT Set at $15.00 by BMO Capital Markets

BMO Capital Markets set a $15.00 price objective on Callon Petroleum (NYSE:CPE) in a report published on Tuesday, November 14th. The brokerage currently has a buy rating on the oil and natural gas company’s stock.

CPE has been the topic of several other research reports. Jefferies Group began coverage on Callon Petroleum in a research report on Monday, October 9th. They issued a buy rating and a $16.00 price objective on the stock. Northland Securities reiterated a buy rating and set a $18.00 target price on shares of Callon Petroleum in a research report on Wednesday, November 1st. Zacks Investment Research upgraded Callon Petroleum from a sell rating to a hold rating in a research report on Monday, July 24th. BidaskClub lowered Callon Petroleum from a sell rating to a strong sell rating in a report on Saturday, August 5th. Finally, Bank of America started coverage on Callon Petroleum in a report on Monday, October 16th. They issued a buy rating on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-two have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $17.43.

Callon Petroleum (CPE) traded up $0.46 during mid-day trading on Tuesday, hitting $11.50. 6,470,000 shares of the company’s stock traded hands, compared to its average volume of 4,720,000. Callon Petroleum has a 1-year low of $9.34 and a 1-year high of $18.00. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $2,320.00, a price-to-earnings ratio of 31.94 and a beta of 1.32.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vaughan Nelson Investment Management L.P. increased its holdings in shares of 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 purchasing an additional 1,755,125 shares during the period. BlackRock Inc. increased its holdings in shares of Callon Petroleum by 96,684.2% in the first quarter. BlackRock Inc. now owns 12,101,893 shares of the oil and natural gas company’s stock valued at $159,259,000 after purchasing an additional 12,089,389 shares during the period. Victory Capital Management Inc. increased its holdings in shares of 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 purchasing an additional 425,767 shares during the period. Rhumbline Advisers increased its holdings in shares of 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 purchasing an additional 34,532 shares during the period. Finally, Voya Investment Management LLC increased its holdings in shares of 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 purchasing an additional 17,410 shares during the period.

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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.

Analyst Recommendations for Callon Petroleum (NYSE:CPE)

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