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

Research analysts at StockNews.com initiated coverage on shares of Callon Petroleum (NYSE:CPE) in a report released on Tuesday. The firm 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 reaffirmed a “hold” rating and issued a $32.00 price target (down from $44.00) on shares of Callon Petroleum in a research report on Tuesday, January 23rd. Mizuho decreased their price target on shares of Callon Petroleum from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, March 15th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Callon Petroleum has a consensus rating of “Hold” and a consensus price target of $40.33.

Callon Petroleum Stock Performance

NYSE:CPE opened at $35.76 on Tuesday. The company has a market capitalization of $2.38 billion, a P/E ratio of 5.87 and a beta of 2.46. The stock’s 50 day moving average price is $34.63 and its 200 day moving average price is $33.54. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.39 and a current ratio of 0.39. Callon Petroleum has a 52 week low of $28.62 and a 52 week 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 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.12). The firm had revenue of $601.36 million during the quarter, compared to the consensus estimate of $563.30 million. Callon Petroleum had a return on equity of 12.65% and a net margin of 17.12%. On average, research analysts forecast that Callon Petroleum will post 6.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Callon Petroleum

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CPE. Royal Bank of Canada increased its holdings in shares of Callon Petroleum by 510.9% in the third 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 in the last quarter. Fifth Lane Capital LP acquired a new position in shares of Callon Petroleum during the first quarter valued at $18,771,000. abrdn plc bought a new position in Callon Petroleum in the third quarter valued at about $17,332,000. Boston Trust Walden Corp increased its position in Callon Petroleum by 54.2% in the fourth quarter. Boston Trust Walden Corp now owns 1,101,367 shares of the oil and natural gas company’s stock worth $35,684,000 after purchasing an additional 387,125 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Callon Petroleum by 1,839.8% during the 3rd quarter. Victory Capital Management Inc. now owns 251,399 shares of the oil and natural gas company’s stock worth $9,835,000 after purchasing an additional 238,439 shares during the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

About Callon Petroleum

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.