Stephens Analysts Give Callon Petroleum (CPE) a $11.00 Price Target

Stephens set a $11.00 target price on Callon Petroleum (NYSE:CPE) in a research note issued to investors on Wednesday morning, TipRanks reports. The brokerage currently has a buy rating on the oil and natural gas company’s stock.

A number of other research analysts have also recently issued reports on CPE. Citigroup raised shares of Callon Petroleum from a neutral rating to a buy rating and set a $11.00 price target for the company in a research report on Wednesday, January 23rd. Zacks Investment Research cut shares of Callon Petroleum from a hold rating to a strong sell rating in a research report on Thursday, January 24th. Williams Capital reissued a buy rating and set a $12.00 price target on shares of Callon Petroleum in a research report on Monday, February 11th. Imperial Capital reissued an outperform rating and set a $15.00 price target (up from $12.00) on shares of Callon Petroleum in a research report on Wednesday, February 13th. Finally, Capital One Financial cut shares of Callon Petroleum from an overweight rating to an equal weight rating in a research report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $13.63.

Shares of NYSE:CPE traded down $0.29 on Wednesday, hitting $7.15. The company had a trading volume of 202,377 shares, compared to its average volume of 6,790,482. Callon Petroleum has a 1 year low of $5.57 and a 1 year high of $13.38. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.55. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 8.71, a P/E/G ratio of 0.77 and a beta of 1.50.

Callon Petroleum (NYSE:CPE) last posted its earnings results on Tuesday, February 26th. The oil and natural gas company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.05). Callon Petroleum had a return on equity of 7.55% and a net margin of 36.70%. The company had revenue of $161.90 million during the quarter, compared to analysts’ expectations of $164.50 million. Equities analysts forecast that Callon Petroleum will post 0.92 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. lifted its holdings in shares of Callon Petroleum by 830.8% in the 1st quarter. Rockefeller Capital Management L.P. now owns 3,593 shares of the oil and natural gas company’s stock worth $27,000 after purchasing an additional 3,207 shares during the last quarter. Private Capital Group LLC raised its stake in Callon Petroleum by 135.5% during the 1st quarter. Private Capital Group LLC now owns 4,164 shares of the oil and natural gas company’s stock valued at $31,000 after acquiring an additional 2,396 shares in the last quarter. Cresset Asset Management LLC bought a new stake in Callon Petroleum during the 1st quarter valued at $38,000. Cipher Capital LP bought a new stake in Callon Petroleum during the 4th quarter valued at $72,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Callon Petroleum during the 4th quarter valued at $73,000.

Callon Petroleum Company Profile

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.

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Analyst Recommendations for Callon Petroleum (NYSE:CPE)

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