Callon Petroleum (NYSE:CPE) Shares Gap Down to $4.55

Callon Petroleum (NYSE:CPE)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $4.30, but opened at $4.55. Callon Petroleum shares last traded at $4.57, with a volume of 182,523 shares changing hands.

A number of analysts have recently weighed in on the stock. Barclays upgraded shares of Callon Petroleum from an “equal weight” rating to an “overweight” rating and set a $9.00 price target on the stock in a report on Monday, July 1st. Jefferies Financial Group cut shares of Callon Petroleum from a “buy” rating to a “hold” rating and set a $11.00 price target on the stock. in a report on Monday, July 15th. Capital One Financial upgraded shares of Callon Petroleum from an “equal weight” rating to an “overweight” rating in a report on Thursday, May 23rd. Northland Securities restated a “buy” rating and issued a $10.00 price target on shares of Callon Petroleum in a report on Tuesday, July 16th. Finally, Williams Capital lowered their price target on shares of Callon Petroleum from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seventeen have issued a buy rating to the company. Callon Petroleum currently has a consensus rating of “Buy” and a consensus target price of $12.33.

The stock has a 50 day moving average of $5.86. The company has a market cap of $1.04 billion, a P/E ratio of 5.57, a price-to-earnings-growth ratio of 0.53 and a beta of 1.44. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.53 and a quick ratio of 0.53.

Callon Petroleum (NYSE:CPE) last released its earnings results on Monday, May 6th. The oil and natural gas company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $153.05 million during the quarter, compared to analysts’ expectations of $144.68 million. Callon Petroleum had a net margin of 36.70% and a return on equity of 7.55%. Callon Petroleum’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period last year, the business earned $0.27 EPS. Equities analysts predict that Callon Petroleum will post 0.78 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Private Capital Group LLC lifted 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 during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in Callon Petroleum during the 4th quarter valued at approximately $73,000. Miller Investment Management LP acquired a new stake in Callon Petroleum during the 1st quarter valued at approximately $76,000. Cornerstone Investment Partners LLC acquired a new stake in Callon Petroleum during the 1st quarter valued at approximately $81,000. Finally, Signaturefd LLC lifted its stake in Callon Petroleum by 50.1% during the 1st quarter. Signaturefd LLC now owns 11,314 shares of the oil and natural gas company’s stock valued at $85,000 after acquiring an additional 3,777 shares during the period.

About Callon Petroleum (NYSE:CPE)

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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