Callon Petroleum (NYSE:CPE) Receives Consensus Recommendation of “Hold” from Analysts

Callon Petroleum (NYSE:CPE – Get Rating) has earned a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $72.78.

Several equities analysts have recently issued reports on the company. Zacks Investment Research cut Callon Petroleum from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a report on Tuesday, April 26th. Roth Capital upgraded Callon Petroleum from a “neutral” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Monday, April 18th. Morgan Stanley upped their target price on Callon Petroleum from $63.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Friday, April 22nd. JPMorgan Chase & Co. cut shares of Callon Petroleum from a “neutral” rating to an “underweight” rating and set a $62.00 price target on the stock. in a research note on Friday, January 21st. Finally, Truist Financial upped their price objective on shares of Callon Petroleum from $100.00 to $109.00 in a research report on Thursday, April 21st.

In other news, major shareholder Holdings L.P. Blackstone III sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $62.00, for a total transaction of $12,400,000.00. Following the transaction, the insider now directly owns 5,935,002 shares in the company, valued at approximately $367,970,124. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Primexx Energy Partners, Ltd sold 5,225 shares of the company’s stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of $60.02, for a total value of $313,604.50. The disclosure for this sale can be found here. Insiders have sold 1,232,939 shares of company stock valued at $75,744,597 in the last ninety days. Insiders own 2.10% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN raised its position in Callon Petroleum by 44.6% in the second quarter. Wells Fargo & Company MN now owns 36,061 shares of the oil and natural gas company’s stock valued at $2,080,000 after purchasing an additional 11,131 shares during the period. SG Americas Securities LLC lifted its position in Callon Petroleum by 1,341.9% in the third quarter. SG Americas Securities LLC now owns 39,089 shares of the oil and natural gas company’s stock valued at $1,918,000 after buying an additional 36,378 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Callon Petroleum by 62.9% during the third quarter. Victory Capital Management Inc. now owns 20,229 shares of the oil and natural gas company’s stock worth $993,000 after buying an additional 7,809 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Callon Petroleum by 15.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 4,305 shares of the oil and natural gas company’s stock worth $211,000 after buying an additional 591 shares during the period. Finally, Deutsche Bank AG increased its position in shares of Callon Petroleum by 48.3% during the third quarter. Deutsche Bank AG now owns 41,626 shares of the oil and natural gas company’s stock valued at $2,044,000 after acquiring an additional 13,554 shares during the last quarter. Institutional investors own 95.73% of the company’s stock.

Callon Petroleum stock opened at $51.27 on Monday. Callon Petroleum has a fifty-two week low of $25.32 and a fifty-two week high of $66.48. The company has a market cap of $3.15 billion, a PE ratio of 8.15 and a beta of 2.81. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.34 and a current ratio of 0.34. The business’s 50-day simple moving average is $58.15 and its two-hundred day simple moving average is $54.80.

Callon Petroleum (NYSE:CPE – Get Rating) last issued its quarterly earnings results on Wednesday, February 23rd. The oil and natural gas company reported $2.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.81 by ($0.15). Callon Petroleum had a return on equity of 40.46% and a net margin of 17.86%. The business had revenue of $692.19 million during the quarter, compared to analyst estimates of $542.75 million. During the same quarter last year, the company posted $1.00 EPS. As a group, analysts predict that Callon Petroleum will post 15.54 EPS for the current fiscal year.

About Callon Petroleum (Get Rating)

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.

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