Callon Petroleum (NYSE:CPE) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of Callon Petroleum (NYSE:CPE) in a note issued to investors on Monday. The brokerage set a “hold” rating on the oil and natural gas company’s stock.

Other research analysts also recently issued reports about the company. Stifel Nicolaus reissued a “hold” rating and issued a $32.00 price objective (down from $44.00) on shares of Callon Petroleum in a research note on Tuesday, January 23rd. Mizuho reduced their price objective on Callon Petroleum from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, March 15th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $40.33.

Callon Petroleum Trading Up 1.8 %

Callon Petroleum stock opened at $35.76 on Monday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.48. The firm has a market cap of $2.38 billion, a PE ratio of 5.87 and a beta of 2.46. The stock’s 50 day simple moving average is $34.16 and its two-hundred day simple moving average is $33.66. Callon Petroleum has a 12 month low of $28.62 and a 12 month high of $41.36.

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

Institutional Trading of Callon Petroleum

Several large investors have recently added to or reduced their stakes in CPE. State of Alaska Department of Revenue grew its holdings in Callon Petroleum by 3.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 34,814 shares of the oil and natural gas company’s stock valued at $1,361,000 after buying an additional 1,025 shares in the last quarter. Maryland State Retirement & Pension System grew its holdings in Callon Petroleum by 2.9% in the 3rd quarter. Maryland State Retirement & Pension System now owns 20,586 shares of the oil and natural gas company’s stock valued at $805,000 after buying an additional 579 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Callon Petroleum by 2.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 626,546 shares of the oil and natural gas company’s stock valued at $24,510,000 after buying an additional 17,115 shares in the last quarter. New York State Teachers Retirement System grew its holdings in Callon Petroleum by 6.7% in the 3rd quarter. New York State Teachers Retirement System now owns 55,924 shares of the oil and natural gas company’s stock valued at $2,188,000 after buying an additional 3,496 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in Callon Petroleum by 4.4% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 16,663 shares of the oil and natural gas company’s stock valued at $652,000 after buying an additional 700 shares in the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

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.