Callon Petroleum (NYSE:CPE) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com started coverage on shares of Callon Petroleum (NYSE:CPEGet Free Report) in a report issued on Thursday. The brokerage set a “hold” rating on the oil and natural gas company’s stock.

CPE has been the topic of several other reports. Royal Bank of Canada reduced their price objective on Callon Petroleum from $50.00 to $42.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 22nd. Morgan Stanley cut their price target on Callon Petroleum from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 29th. Stifel Nicolaus reissued a “hold” rating and set a $32.00 price target (down from $44.00) on shares of Callon Petroleum in a research note on Tuesday, January 23rd. Finally, Mizuho lowered Callon Petroleum from a “buy” rating to a “neutral” rating and cut their price target for the company from $60.00 to $40.00 in a research note on Wednesday, January 3rd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Callon Petroleum currently has an average rating of “Hold” and a consensus price target of $41.17.

Check Out Our Latest Stock Analysis on CPE

Callon Petroleum Stock Performance

NYSE:CPE opened at $31.32 on Thursday. The stock’s 50-day simple moving average is $32.33 and its 200 day simple moving average is $35.18. The firm has a market capitalization of $2.12 billion, a PE ratio of 3.92 and a beta of 2.49. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.50. Callon Petroleum has a twelve month low of $28.62 and a twelve month high of $42.72.

Callon Petroleum (NYSE:CPEGet Free Report) last released its quarterly earnings data on Wednesday, November 1st. The oil and natural gas company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.03. The business had revenue of $619.30 million for the quarter, compared to analyst estimates of $599.76 million. Callon Petroleum had a return on equity of 16.26% and a net margin of 20.63%. Callon Petroleum’s revenue was down 25.9% compared to the same quarter last year. During the same period last year, the firm posted $4.04 earnings per share. On average, analysts anticipate that Callon Petroleum will post 7.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Callon Petroleum

A number of hedge funds have recently made changes to their positions in CPE. Royal Bank of Canada raised its position in shares of Callon Petroleum by 510.9% during the third quarter. Royal Bank of Canada now owns 1,674,634 shares of the oil and natural gas company’s stock worth $65,511,000 after acquiring an additional 1,400,493 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Callon Petroleum by 22.4% during the third quarter. Vanguard Group Inc. now owns 6,610,084 shares of the oil and natural gas company’s stock worth $231,419,000 after acquiring an additional 1,210,001 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Callon Petroleum by 54.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,754,939 shares of the oil and natural gas company’s stock worth $92,124,000 after acquiring an additional 975,132 shares during the last quarter. Woodline Partners LP bought a new position in shares of Callon Petroleum during the second quarter worth about $31,528,000. Finally, Boston Trust Walden Corp bought a new position in shares of Callon Petroleum during the third quarter worth about $27,941,000. 92.79% of the stock is currently owned by institutional investors.

About Callon Petroleum

(Get Free Report)

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, exploration, and development of oil and natural gas properties in West Texas. The company was founded in 1950 and is headquartered in Houston, Texas.

Further Reading

Analyst Recommendations for Callon Petroleum (NYSE:CPE)

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