Callon Petroleum (NYSE:CPE) Receives Average Recommendation of “Hold” from Analysts

Shares of Callon Petroleum (NYSE:CPEGet Rating) have earned an average rating of “Hold” from the ten ratings firms that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $75.25.

Several brokerages have weighed in on CPE. Morgan Stanley increased their price target on Callon Petroleum from $63.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Friday, April 22nd. Truist Financial dropped their target price on Callon Petroleum from $107.00 to $101.00 and set a “buy” rating on the stock in a research report on Tuesday, June 7th. Roth Capital upgraded Callon Petroleum from a “neutral” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Monday, April 18th. StockNews.com initiated coverage on Callon Petroleum in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. dropped their target price on Callon Petroleum from $77.00 to $75.00 in a research report on Tuesday, June 7th.

In other Callon Petroleum news, major shareholder Holdings L.P. Blackstone III sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $62.00, for a total value of $12,400,000.00. Following the transaction, the insider now directly owns 5,935,002 shares of the company’s stock, valued at approximately $367,970,124. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Primexx Energy Partners, Ltd sold 130,000 shares of the firm’s stock in a transaction that occurred on Friday, March 25th. The stock was sold at an average price of $61.89, for a total transaction of $8,045,700.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 677,706 shares of company stock worth $41,986,301. 1.80% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors grew its position in Callon Petroleum by 290.4% in the third quarter. Captrust Financial Advisors now owns 1,839 shares of the oil and natural gas company’s stock worth $90,000 after acquiring an additional 1,368 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Callon Petroleum in the 4th quarter valued at $95,000. PNC Financial Services Group Inc. lifted its stake in shares of Callon Petroleum by 25.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,296 shares of the oil and natural gas company’s stock valued at $135,000 after purchasing an additional 462 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Callon Petroleum by 489.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,770 shares of the oil and natural gas company’s stock valued at $137,000 after purchasing an additional 2,300 shares during the last quarter. Finally, US Asset Management LLC acquired a new position in shares of Callon Petroleum in the 1st quarter valued at $157,000. Hedge funds and other institutional investors own 95.73% of the company’s stock.

Shares of CPE opened at $46.03 on Tuesday. The business’s 50-day moving average is $54.25 and its two-hundred day moving average is $54.09. The company has a market capitalization of $2.84 billion, a P/E ratio of 5.22 and a beta of 2.71. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.36 and a current ratio of 0.36. Callon Petroleum has a fifty-two week low of $25.32 and a fifty-two week high of $66.48.

Callon Petroleum (NYSE:CPEGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The oil and natural gas company reported $3.43 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.15. The company had revenue of $664.80 million for the quarter, compared to the consensus estimate of $587.95 million. Callon Petroleum had a return on equity of 42.41% and a net margin of 19.71%. The firm’s revenue for the quarter was up 107.4% compared to the same quarter last year. During the same period last year, the firm earned $1.49 EPS. Analysts forecast that Callon Petroleum will post 16.37 EPS for the current year.

About Callon Petroleum (Get Rating)

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, 2021, its estimated net proved reserves totaled approximately 484.6 million barrel of oil equivalent, including 290.3 MMBbls oil, 577.3 Bcf of natural gas, and 98.1 MMBbls of natural gas liquids.

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