Callon Petroleum (NYSE:CPE) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Callon Petroleum (NYSE:CPE) have earned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $40.33.

CPE has been the topic of a number of analyst reports. Stifel Nicolaus reaffirmed a “hold” rating and issued a $32.00 price target (down previously from $44.00) on shares of Callon Petroleum in a research report on Tuesday, January 23rd. StockNews.com started coverage on Callon Petroleum in a report on Sunday, April 21st. They issued a “hold” rating on the stock. Finally, Mizuho dropped their price objective on Callon Petroleum from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, March 15th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in shares of Callon Petroleum by 510.9% in the 3rd quarter. Royal Bank of Canada now owns 1,674,634 shares of the oil and natural gas company’s stock valued at $65,511,000 after purchasing an additional 1,400,493 shares during the last quarter. abrdn plc purchased a new position in shares of Callon Petroleum in the 3rd quarter valued at approximately $17,332,000. Boston Trust Walden Corp grew its stake in shares of Callon Petroleum by 54.2% in the 4th quarter. Boston Trust Walden Corp now owns 1,101,367 shares of the oil and natural gas company’s stock valued at $35,684,000 after purchasing an additional 387,125 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Callon Petroleum by 1,839.8% in the 3rd quarter. Victory Capital Management Inc. now owns 251,399 shares of the oil and natural gas company’s stock valued at $9,835,000 after purchasing an additional 238,439 shares during the last quarter. Finally, Channing Capital Management LLC grew its stake in shares of Callon Petroleum by 20.1% in the 3rd quarter. Channing Capital Management LLC now owns 1,425,586 shares of the oil and natural gas company’s stock valued at $55,769,000 after purchasing an additional 238,113 shares during the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Callon Petroleum Price Performance

CPE stock opened at $35.76 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.39 and a quick ratio of 0.39. The firm has a market capitalization of $2.38 billion, a P/E ratio of 5.87 and a beta of 2.46. The business’s 50-day moving average is $34.04 and its two-hundred day moving average is $33.70. Callon Petroleum has a 1 year low of $28.62 and a 1 year high of $41.36.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results on Monday, February 26th. The oil and natural gas company reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.12). The company had revenue of $601.36 million during the quarter, compared to analyst estimates of $563.30 million. Callon Petroleum had a net margin of 17.12% and a return on equity of 12.65%. Analysts anticipate that Callon Petroleum will post 6.56 earnings per share for the current fiscal year.

Callon Petroleum Company Profile

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, exploration, and development of oil and natural gas properties in West Texas. Callon Petroleum Company was founded in 1950 and is headquartered in Houston, Texas.