Callon Petroleum (NYSE:CPE) Price Target Lowered to $11.00 at Imperial Capital

Callon Petroleum (NYSE:CPE) had its price target cut by Imperial Capital from $16.00 to $11.00 in a research report sent to investors on Tuesday, Briefing.com Automated Import reports. They currently have an in-line rating on the oil and natural gas company’s stock. Imperial Capital also issued estimates for Callon Petroleum’s Q4 2019 earnings at $0.22 EPS, FY2019 earnings at $0.76 EPS, Q1 2020 earnings at $0.27 EPS, Q2 2020 earnings at $0.27 EPS, Q3 2020 earnings at $0.29 EPS, Q4 2020 earnings at $0.32 EPS and FY2020 earnings at $1.15 EPS.

CPE has been the topic of several other reports. Northland Securities set a $11.00 price objective on Callon Petroleum and gave the stock a buy rating in a research note on Thursday, June 13th. Williams Capital reduced their price objective on Callon Petroleum from $12.00 to $10.00 and set a buy rating on the stock in a research note on Tuesday. SunTrust Banks set a $75.00 price objective on Cimarex Energy and gave the stock a hold rating in a research note on Tuesday, April 23rd. Roth Capital set a $12.00 price objective on Callon Petroleum and gave the stock a buy rating in a research note on Friday, June 14th. Finally, Zacks Investment Research cut Guardant Health from a hold rating to a sell rating in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seventeen have assigned a buy rating to the stock. Callon Petroleum has a consensus rating of Buy and a consensus price target of $12.33.

NYSE:CPE opened at $4.80 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $1.19 billion, a P/E ratio of 5.85, a P/E/G ratio of 0.59 and a beta of 1.49. Callon Petroleum has a 12 month low of $4.73 and a 12 month high of $13.09. The stock has a 50-day moving average price of $6.26.

Callon Petroleum (NYSE:CPE) last issued its quarterly earnings data on Monday, May 6th. The oil and natural gas company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.01. Callon Petroleum had a return on equity of 7.55% and a net margin of 36.70%. The company had revenue of $153.05 million for the quarter, compared to analysts’ expectations of $144.68 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. Equities research analysts predict that Callon Petroleum will post 0.81 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MHI Funds LLC boosted its holdings in shares of Callon Petroleum by 3.6% in the first quarter. MHI Funds LLC now owns 35,979 shares of the oil and natural gas company’s stock valued at $272,000 after purchasing an additional 1,242 shares during the period. Mason Street Advisors LLC boosted its holdings in shares of Callon Petroleum by 1.7% in the first quarter. Mason Street Advisors LLC now owns 121,178 shares of the oil and natural gas company’s stock valued at $915,000 after purchasing an additional 1,971 shares during the period. Advisor Group Inc. boosted its holdings in shares of Callon Petroleum by 9.8% in the fourth quarter. Advisor Group Inc. now owns 25,415 shares of the oil and natural gas company’s stock valued at $165,000 after purchasing an additional 2,272 shares during the period. Private Capital Group LLC boosted its holdings in shares of Callon Petroleum by 135.5% in the first quarter. Private Capital Group LLC now owns 4,164 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 2,396 shares during the period. Finally, First National Bank of Omaha boosted its holdings in shares of Callon Petroleum by 1.7% in the first quarter. First National Bank of Omaha now owns 162,564 shares of the oil and natural gas company’s stock valued at $1,227,000 after purchasing an additional 2,682 shares during the period.

About Callon Petroleum

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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