Callon Petroleum (NYSE:CPE) Given Consensus Rating of “Moderate Buy” by Brokerages

Callon Petroleum (NYSE:CPE) has received a consensus rating of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $40.33.

Several equities research analysts recently issued reports on the stock. Mizuho cut their target price on shares of Callon Petroleum from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, March 15th. Stifel Nicolaus reiterated a “hold” rating and issued a $32.00 target price (down from $44.00) on shares of Callon Petroleum in a research note on Tuesday, January 23rd. Finally, StockNews.com assumed coverage on shares of Callon Petroleum in a research note on Sunday, April 21st. They issued a “hold” rating for the company.

Callon Petroleum Stock Performance

Callon Petroleum stock opened at $35.76 on Friday. The firm has a 50-day moving average of $34.04 and a 200-day moving average of $33.70. Callon Petroleum has a one year low of $28.62 and a one year high of $41.36. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.39 and a quick ratio of 0.39. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 5.87 and a beta of 2.46.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings data on Monday, February 26th. The oil and natural gas company reported $1.62 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.12). Callon Petroleum had a return on equity of 12.65% and a net margin of 17.12%. The business had revenue of $601.36 million for the quarter, compared to analyst estimates of $563.30 million. On average, equities analysts expect that Callon Petroleum will post 6.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CPE. Royal Bank of Canada raised its holdings in Callon Petroleum by 510.9% in the 3rd 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 acquiring an additional 1,400,493 shares during the period. abrdn plc bought a new position in Callon Petroleum in the 3rd quarter valued at about $17,332,000. Boston Trust Walden Corp raised its holdings in Callon Petroleum by 54.2% in the 4th quarter. Boston Trust Walden Corp now owns 1,101,367 shares of the oil and natural gas company’s stock valued at $35,684,000 after acquiring an additional 387,125 shares during the period. Victory Capital Management Inc. raised its holdings in Callon Petroleum by 1,839.8% in the 3rd quarter. Victory Capital Management Inc. now owns 251,399 shares of the oil and natural gas company’s stock valued at $9,835,000 after acquiring an additional 238,439 shares during the period. Finally, Channing Capital Management LLC raised its holdings in Callon Petroleum by 20.1% in the 3rd quarter. Channing Capital Management LLC now owns 1,425,586 shares of the oil and natural gas company’s stock valued at $55,769,000 after acquiring an additional 238,113 shares during the period. 91.08% 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. Callon Petroleum Company was founded in 1950 and is headquartered in Houston, Texas.