Callon Petroleum (NYSE:CPE) Price Target Lowered to $53.00 at Morgan Stanley

Callon Petroleum (NYSE:CPE – Get Rating) had its price target reduced by Morgan Stanley from $60.00 to $53.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the oil and natural gas company’s stock.

Several other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. upgraded Callon Petroleum from an underweight rating to a neutral rating and set a $57.00 price objective on the stock in a report on Monday, December 5th. StockNews.com initiated coverage on Callon Petroleum in a report on Wednesday, October 12th. They issued a hold rating on the stock. Finally, Mizuho initiated coverage on Callon Petroleum in a research note on Monday, January 9th. They set a buy rating and a $59.00 target price for the company. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $66.63.

Callon Petroleum Price Performance

CPE stock opened at $42.73 on Tuesday. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $2.63 billion, a PE ratio of 2.15 and a beta of 2.63. Callon Petroleum has a 12-month low of $31.23 and a 12-month high of $66.48. The business’s fifty day moving average price is $38.39 and its 200 day moving average price is $40.38.

Callon Petroleum (NYSE:CPE – Get Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The oil and natural gas company reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.00 by $0.04. The firm had revenue of $835.88 million for the quarter, compared to the consensus estimate of $699.68 million. Callon Petroleum had a return on equity of 38.40% and a net margin of 37.99%. On average, sell-side analysts anticipate that Callon Petroleum will post 14.85 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Delphia USA Inc. acquired a new position in shares of Callon Petroleum during the 2nd quarter worth about $209,000. Truist Financial Corp boosted its position in shares of Callon Petroleum by 7.5% during the 3rd quarter. Truist Financial Corp now owns 138,045 shares of the oil and natural gas company’s stock worth $4,833,000 after acquiring an additional 9,630 shares in the last quarter. Texas Permanent School Fund boosted its position in shares of Callon Petroleum by 7.3% during the 3rd quarter. Texas Permanent School Fund now owns 36,839 shares of the oil and natural gas company’s stock worth $1,290,000 after acquiring an additional 2,506 shares in the last quarter. Whittier Trust Co. boosted its position in shares of Callon Petroleum by 7.9% during the 3rd quarter. Whittier Trust Co. now owns 35,185 shares of the oil and natural gas company’s stock worth $1,231,000 after acquiring an additional 2,583 shares in the last quarter. Finally, Fox Run Management L.L.C. boosted its position in shares of Callon Petroleum by 104.5% during the 2nd quarter. Fox Run Management L.L.C. now owns 10,318 shares of the oil and natural gas company’s stock worth $404,000 after acquiring an additional 5,273 shares in the last quarter. 83.60% of the stock is owned by institutional investors and hedge funds.

About Callon Petroleum

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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.