Callon Petroleum (NYSE:CPE) Given Consensus Recommendation of “Hold” by Analysts

Callon Petroleum (NYSE:CPEGet Rating) has earned a consensus recommendation of “Hold” from the eleven ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $72.78.

A number of research analysts have recently commented on CPE shares. StockNews.com started coverage on shares of Callon Petroleum in a research report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research lowered shares of Callon Petroleum from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a research report on Tuesday, April 26th. Morgan Stanley upped their price objective on shares of Callon Petroleum from $63.00 to $79.00 and gave the company an “equal weight” rating in a research report on Friday, April 22nd. Roth Capital raised shares of 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. 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 Callon Petroleum news, major shareholder Holdings L.P. Blackstone III sold 13,353 shares of the firm’s stock in a transaction that occurred on Thursday, April 7th. The shares were sold at an average price of $61.54, for a total value of $821,743.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Primexx Energy Partners, Ltd sold 475,000 shares of the firm’s stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $60.79, for a total transaction of $28,875,250.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,232,939 shares of company stock valued at $75,744,597. Company insiders own 1.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in CPE. Sawtooth Solutions LLC bought a new stake in shares of Callon Petroleum in the first quarter worth about $254,000. Range Financial Group LLC bought a new stake in shares of Callon Petroleum in the first quarter worth about $323,000. Gamco Investors INC. ET AL bought a new stake in shares of Callon Petroleum in the first quarter worth about $315,000. Virtu Financial LLC increased its holdings in shares of Callon Petroleum by 148.1% in the first quarter. Virtu Financial LLC now owns 16,091 shares of the oil and natural gas company’s stock worth $951,000 after acquiring an additional 9,606 shares in the last quarter. Finally, Point72 Hong Kong Ltd increased its holdings in shares of Callon Petroleum by 14.5% in the first quarter. Point72 Hong Kong Ltd now owns 2,299 shares of the oil and natural gas company’s stock worth $136,000 after acquiring an additional 291 shares in the last quarter. 95.73% of the stock is currently owned by institutional investors.

NYSE CPE opened at $53.65 on Friday. The company has a 50 day simple moving average of $55.25 and a 200-day simple moving average of $54.09. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.36 and a quick ratio of 0.34. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 6.13 and a beta of 2.72. Callon Petroleum has a 52-week low of $25.32 and a 52-week high of $66.48.

Callon Petroleum (NYSE:CPEGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The oil and natural gas company reported $3.43 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.15. The firm had revenue of $664.80 million for the quarter, compared to analyst estimates of $587.95 million. Callon Petroleum had a net margin of 19.71% and a return on equity of 42.41%. The company’s revenue for the quarter was up 107.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.49 earnings per share. On average, analysts predict that Callon Petroleum will post 15.74 EPS for the current year.

Callon Petroleum Company Profile (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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Analyst Recommendations for Callon Petroleum (NYSE:CPE)

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