Callon Petroleum (NYSE:CPE) Receives Average Rating of “Hold” from Brokerages

Shares of Callon Petroleum (NYSE:CPE) have earned a consensus recommendation of “Hold” from the fifteen analysts that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $26.52.

CPE has been the subject of a number of recent research reports. MKM Partners reiterated a “neutral” rating and issued a $26.00 target price on shares of Callon Petroleum in a research note on Monday, March 8th. Royal Bank of Canada lowered Callon Petroleum from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $44.00 to $54.00 in a research note on Thursday. They noted that the move was a valuation call. Morgan Stanley increased their target price on Callon Petroleum from $37.00 to $39.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 19th. Johnson Rice upgraded Callon Petroleum from a “hold” rating to an “accumulate” rating in a research note on Monday, March 8th. Finally, Zacks Investment Research upgraded Callon Petroleum from a “hold” rating to a “strong-buy” rating and set a $44.00 target price for the company in a research note on Monday, May 31st.

In other Callon Petroleum news, Director S P. Iv Johnson sold 1,200 shares of the stock in a transaction that occurred on Thursday, March 18th. The stock was sold at an average price of $38.20, for a total transaction of $45,840.00. Following the transaction, the director now owns 70,865 shares of the company’s stock, valued at approximately $2,707,043. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders sold 3,600 shares of company stock valued at $133,932 in the last three months. 2.60% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in CPE. BlackRock Inc. lifted its holdings in Callon Petroleum by 31.5% during the 1st quarter. BlackRock Inc. now owns 5,331,740 shares of the oil and natural gas company’s stock worth $205,539,000 after buying an additional 1,277,392 shares during the last quarter. Morgan Stanley lifted its holdings in Callon Petroleum by 239.0% during the 1st quarter. Morgan Stanley now owns 414,840 shares of the oil and natural gas company’s stock worth $15,992,000 after buying an additional 292,471 shares during the last quarter. Kennedy Capital Management Inc. bought a new position in Callon Petroleum during the 1st quarter worth approximately $4,952,000. Cubist Systematic Strategies LLC bought a new position in Callon Petroleum during the 1st quarter worth approximately $4,219,000. Finally, Point72 Asset Management L.P. bought a new position in Callon Petroleum during the 1st quarter worth approximately $3,797,000. 66.45% of the stock is currently owned by institutional investors.

Shares of NYSE:CPE opened at $48.24 on Friday. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of -0.68 and a beta of 3.45. The company has a debt-to-equity ratio of 3.82, a current ratio of 0.35 and a quick ratio of 0.35. The stock’s 50-day moving average price is $38.82. Callon Petroleum has a 12 month low of $4.50 and a 12 month high of $52.50.

Callon Petroleum (NYSE:CPE) last announced its quarterly earnings results on Wednesday, May 5th. The oil and natural gas company reported $1.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.59. The company had revenue of $359.88 million during the quarter, compared to analyst estimates of $278.87 million. Callon Petroleum had a positive return on equity of 12.30% and a negative net margin of 256.60%. As a group, research analysts predict that Callon Petroleum will post 6.57 EPS for the current year.

About Callon Petroleum

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, exploration, and development of oil and natural gas properties in Permian Basin in West Texas. As of December 31, 2020, its estimated net proved reserves totaled approximately 475.9 million barrel of oil equivalent, including 289.5 MMBbls oil, 541.6 Bcf of natural gas, and 96.1 MMBbls of natural gas liquids.

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Analyst Recommendations for Callon Petroleum (NYSE:CPE)

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