Callon Petroleum (NYSE:CPE) Receives Average Recommendation of “Hold” from Brokerages

Callon Petroleum (NYSE:CPE – Get Rating) has earned a consensus rating of “Hold” from the ten research firms that are presently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $56.63.

Several equities research analysts have issued reports on the company. Stifel Nicolaus raised their target price on Callon Petroleum from $56.00 to $58.00 in a research note on Thursday, April 27th. Royal Bank of Canada restated an “outperform” rating and set a $60.00 price target on shares of Callon Petroleum in a research report on Wednesday, March 22nd. Morgan Stanley lowered their price target on Callon Petroleum from $45.00 to $43.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 19th. Mizuho lowered their price target on Callon Petroleum from $65.00 to $54.00 in a research report on Friday, March 10th. Finally, StockNews.com started coverage on Callon Petroleum in a research report on Thursday, March 16th. They set a “hold” rating for the company.

Insider Transactions at Callon Petroleum

In related news, Director Steven A. Webster acquired 10,000 shares of Callon Petroleum stock in a transaction on Thursday, May 11th. The stock was purchased at an average cost of $30.24 per share, with a total value of $302,400.00. Following the purchase, the director now directly owns 592,824 shares in the company, valued at $17,926,997.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Callon Petroleum news, Director Steven A. Webster bought 10,000 shares of the business’s stock in a transaction dated Thursday, May 11th. The stock was acquired at an average cost of $30.24 per share, with a total value of $302,400.00. Following the purchase, the director now owns 592,824 shares in the company, valued at approximately $17,926,997.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven A. Webster purchased 20,000 shares of the stock in a transaction that occurred on Tuesday, May 9th. The stock was purchased at an average price of $31.63 per share, for a total transaction of $632,600.00. Following the acquisition, the director now owns 562,824 shares in the company, valued at $17,802,123.12. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 30,250 shares of company stock worth $944,795. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Callon Petroleum

Large investors have recently bought and sold shares of the stock. Strs Ohio acquired a new stake in Callon Petroleum during the 1st quarter valued at $26,000. Banque Cantonale Vaudoise purchased a new position in shares of Callon Petroleum during the 1st quarter worth $33,000. Quadrant Capital Group LLC lifted its stake in shares of Callon Petroleum by 220.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,147 shares of the oil and natural gas company’s stock worth $43,000 after purchasing an additional 789 shares during the period. U.S. Capital Wealth Advisors LLC purchased a new position in shares of Callon Petroleum during the 4th quarter worth $50,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Callon Petroleum by 25.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,296 shares of the oil and natural gas company’s stock worth $135,000 after purchasing an additional 462 shares during the period. Institutional investors and hedge funds own 83.60% of the company’s stock.

Callon Petroleum Price Performance

Shares of CPE stock opened at $30.44 on Friday. Callon Petroleum has a twelve month low of $28.91 and a twelve month high of $64.08. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 1.35 and a beta of 2.73. The stock has a fifty day simple moving average of $34.07 and a two-hundred day simple moving average of $37.96. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.60.

Callon Petroleum (NYSE:CPE – Get Rating) last posted its quarterly earnings results on Wednesday, May 3rd. The oil and natural gas company reported $1.94 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.02). The firm had revenue of $560.00 million for the quarter, compared to analysts’ expectations of $535.29 million. Callon Petroleum had a net margin of 46.15% and a return on equity of 27.29%. The firm’s revenue for the quarter was down 27.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.43 EPS. On average, analysts predict that Callon Petroleum will post 9.81 EPS for the current fiscal year.

Callon Petroleum Company Profile

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Callon Petroleum Co engages in the exploration, development, acquisition, and production of oil and natural gas properties in the United States. It focuses on unconventional oil and natural gas reserves in the Permian Basin. The company was founded by Sim C. Callon and John S. Callon in 1950 and is headquartered in Houston, TX.