Callon Petroleum (NYSE:CPE) PT Lowered to $36.00

Callon Petroleum (NYSE:CPE – Get Rating) had its price target dropped by research analysts at Citigroup from $40.00 to $36.00 in a research note issued to investors on Sunday, The Fly reports. Citigroup’s price target would indicate a potential upside of 8.89% from the stock’s current price.

Other equities research analysts have also issued reports about the company. StockNews.com began coverage on Callon Petroleum in a research note on Thursday, May 18th. They set a “hold” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Callon Petroleum in a research report on Wednesday, March 22nd. Morgan Stanley decreased their target price on Callon Petroleum from $45.00 to $43.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 19th. Truist Financial raised their target price on Callon Petroleum from $55.00 to $71.00 in a research report on Monday, May 8th. Finally, Stifel Nicolaus raised their target price on Callon Petroleum from $56.00 to $58.00 in a research report on Thursday, April 27th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Callon Petroleum currently has a consensus rating of “Hold” and a consensus target price of $56.13.

Callon Petroleum Stock Performance

CPE opened at $33.06 on Friday. The firm has a market cap of $2.05 billion, a PE ratio of 1.47 and a beta of 2.73. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $33.15 and a 200-day simple moving average of $37.24. Callon Petroleum has a fifty-two week low of $28.91 and a fifty-two week high of $64.08.

Callon Petroleum (NYSE:CPE – Get Rating) last released its quarterly earnings data on Wednesday, May 3rd. The oil and natural gas company reported $1.94 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.02). The company had revenue of $560.00 million for the quarter, compared to the consensus estimate of $535.29 million. Callon Petroleum had a return on equity of 27.29% and a net margin of 46.15%. The business’s revenue was down 27.9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.43 earnings per share. As a group, equities analysts predict that Callon Petroleum will post 9.39 EPS for the current fiscal year.

Insider Buying and Selling at Callon Petroleum

In other Callon Petroleum news, Director Steven A. Webster purchased 20,000 shares of the stock in a transaction dated Tuesday, May 9th. The shares were bought at an average cost of $31.63 per share, with a total value of $632,600.00. Following the completion of the transaction, the director now owns 562,824 shares in the company, valued at approximately $17,802,123.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Steven A. Webster bought 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The shares were acquired at an average cost of $31.63 per share, with a total value of $632,600.00. Following the completion of the transaction, the director now directly owns 562,824 shares in the company, valued at $17,802,123.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven A. Webster bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were purchased at an average cost of $30.24 per share, for a total transaction of $302,400.00. Following the completion of the transaction, the director now owns 592,824 shares of the company’s stock, valued at $17,926,997.76. The disclosure for this purchase can be found here. Insiders have purchased a total of 30,250 shares of company stock worth $944,795 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Callon Petroleum

A number of institutional investors have recently added to or reduced their stakes in CPE. Raymond James & Associates acquired a new stake in Callon Petroleum during the first quarter valued at approximately $1,020,000. PNC Financial Services Group Inc. boosted its holdings in Callon Petroleum by 25.2% during the first 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 in the last quarter. AlphaCrest Capital Management LLC boosted its holdings in Callon Petroleum by 8.0% during the first quarter. AlphaCrest Capital Management LLC now owns 7,775 shares of the oil and natural gas company’s stock valued at $459,000 after purchasing an additional 575 shares in the last quarter. Natixis Advisors L.P. acquired a new stake in Callon Petroleum during the first quarter valued at approximately $842,000. Finally, MetLife Investment Management LLC boosted its holdings in Callon Petroleum by 55.4% during the first quarter. MetLife Investment Management LLC now owns 25,397 shares of the oil and natural gas company’s stock valued at $1,500,000 after purchasing an additional 9,056 shares in the last quarter. 83.60% of the stock is owned by institutional investors and hedge funds.

About Callon Petroleum

(Get Rating)

Callon Petroleum Co engages in the exploration, development, acquisition, and production of oil and natural gas properties in the United States. It focuses on unconventional oil and natural gas reserves in the Permian Basin. The company was founded by Sim C. Callon and John S. Callon in 1950 and is headquartered in Houston, TX.