StockNews.com Initiates Coverage on Callon Petroleum (NYSE:CPE)

Investment analysts at StockNews.com started coverage on shares of Callon Petroleum (NYSE:CPE) in a note issued to investors on Tuesday. The firm set a “hold” rating on the oil and natural gas company’s stock.

A number of other analysts have also weighed in on CPE. Mizuho cut their price objective on Callon Petroleum from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, March 15th. Stifel Nicolaus restated a “hold” rating and set a $32.00 price target (down previously from $44.00) on shares of Callon Petroleum in a report on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $40.33.

Callon Petroleum Price Performance

Callon Petroleum stock opened at $35.76 on Tuesday. Callon Petroleum has a fifty-two week low of $28.62 and a fifty-two week high of $41.36. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a 50 day moving average price of $34.63 and a 200 day moving average price of $33.54. The company has a market capitalization of $2.38 billion, a PE 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 the consensus estimate of $1.74 by ($0.12). Callon Petroleum had a net margin of 17.12% and a return on equity of 12.65%. The business had revenue of $601.36 million during the quarter, compared to analysts’ expectations of $563.30 million. Research analysts expect that Callon Petroleum will post 6.56 earnings per share for the current year.

Hedge Funds Weigh In On Callon Petroleum

Large investors have recently bought and sold shares of the business. Texas Permanent School Fund Corp boosted its position in shares of Callon Petroleum by 23.5% during the 1st quarter. Texas Permanent School Fund Corp now owns 59,258 shares of the oil and natural gas company’s stock worth $2,119,000 after acquiring an additional 11,269 shares in the last quarter. Fifth Lane Capital LP acquired a new position in Callon Petroleum in the first quarter valued at approximately $18,771,000. Commonwealth Equity Services LLC purchased a new position in Callon Petroleum in the first quarter valued at approximately $599,000. New York State Teachers Retirement System raised its holdings in Callon Petroleum by 3.4% during the first quarter. New York State Teachers Retirement System now owns 57,409 shares of the oil and natural gas company’s stock worth $2,053,000 after purchasing an additional 1,885 shares in the last quarter. Finally, Denali Advisors LLC purchased a new stake in shares of Callon Petroleum during the 1st quarter worth approximately $733,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Callon Petroleum Company Profile

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.