Callon Petroleum (NYSE:CPE) Receives $50.43 Consensus Price Target from Analysts

Shares of Callon Petroleum (NYSE:CPE) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $50.43.

A number of brokerages recently weighed in on CPE. Stifel Nicolaus reduced their target price on shares of Callon Petroleum from $58.00 to $53.00 in a research note on Tuesday, May 23rd. Mizuho upped their target price on shares of Callon Petroleum from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, June 30th. Citigroup raised shares of Callon Petroleum from a “neutral” rating to a “buy” rating and upped their target price for the stock from $40.00 to $45.00 in a research note on Wednesday, August 16th. Truist Financial reduced their target price on shares of Callon Petroleum from $51.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, August 7th. Finally, Morgan Stanley increased their price objective on shares of Callon Petroleum from $40.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Friday, August 18th.

Callon Petroleum Price Performance

Shares of CPE stock opened at $38.58 on Thursday. Callon Petroleum has a 12-month low of $28.91 and a 12-month high of $50.19. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 2.55 and a beta of 2.74. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.64. The firm has a fifty day moving average of $36.95 and a 200-day moving average of $34.88.

Callon Petroleum (NYSE:CPE) last announced its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.21. The firm had revenue of $562.30 million during the quarter, compared to analyst estimates of $561.08 million. Callon Petroleum had a net margin of 35.11% and a return on equity of 21.41%. The company’s revenue for the quarter was down 38.5% compared to the same quarter last year. During the same period in the prior year, the business earned $3.68 EPS. On average, equities research analysts forecast that Callon Petroleum will post 7.49 earnings per share for the current year.

Institutional Investors Weigh In On Callon Petroleum

Institutional investors and hedge funds have recently modified their holdings of the company. American Century Companies Inc. raised its holdings in shares of Callon Petroleum by 28.4% in the 4th quarter. American Century Companies Inc. now owns 603,988 shares of the oil and natural gas company’s stock valued at $22,402,000 after purchasing an additional 133,672 shares during the period. ETF Managers Group LLC bought a new stake in shares of Callon Petroleum in the 1st quarter valued at about $633,000. ExodusPoint Capital Management LP bought a new stake in shares of Callon Petroleum in the 1st quarter valued at about $1,751,000. Aventail Capital Group LP raised its holdings in shares of Callon Petroleum by 848.2% in the 1st quarter. Aventail Capital Group LP now owns 229,216 shares of the oil and natural gas company’s stock valued at $7,665,000 after purchasing an additional 205,042 shares during the period. Finally, Polianta Ltd raised its holdings in shares of Callon Petroleum by 121.3% in the 1st quarter. Polianta Ltd now owns 35,400 shares of the oil and natural gas company’s stock valued at $1,183,000 after purchasing an additional 19,400 shares during the period. 92.79% of the stock is owned by institutional investors.

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. The company was founded in 1950 and is headquartered in Houston, Texas.