Callon Petroleum (NYSE:CPE) shares fell 6% during mid-day trading on Thursday . The stock traded as low as $7.63 and last traded at $7.99. 5,046,653 shares changed hands during trading, an increase of 2% from the average session volume of 4,940,457 shares. The stock had previously closed at $8.50.
Several research firms have recently issued reports on CPE. Stephens assumed coverage on shares of Callon Petroleum in a report on Thursday. They set an “overweight” rating and a $14.00 price objective on the stock. ValuEngine cut shares of Callon Petroleum from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 1st. Cowen assumed coverage on shares of Callon Petroleum in a research note on Thursday, November 29th. They issued an “outperform” rating on the stock. TheStreet cut shares of Callon Petroleum from a “b-” rating to a “c+” rating in a research note on Tuesday, November 27th. Finally, Zacks Investment Research reissued a “hold” rating on shares of Callon Petroleum in a research note on Monday, November 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $16.00.
The stock has a market cap of $1.93 billion, a P/E ratio of 19.02 and a beta of 1.05. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.46.
Callon Petroleum (NYSE:CPE) last released its quarterly earnings results on Tuesday, November 6th. The oil and natural gas company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. The firm had revenue of $161.21 million for the quarter, compared to analyst estimates of $145.66 million. Callon Petroleum had a net margin of 30.70% and a return on equity of 8.31%. The company’s revenue for the quarter was up 90.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 earnings per share. As a group, equities research analysts forecast that Callon Petroleum will post 0.88 EPS for the current fiscal year.
In other Callon Petroleum news, VP Mitzi P. Conn sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $11.76, for a total value of $176,400.00. Following the transaction, the vice president now directly owns 42,062 shares in the company, valued at $494,649.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.82% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. First Hawaiian Bank acquired a new position in shares of Callon Petroleum during the third quarter worth approximately $107,000. Strs Ohio lifted its position in shares of Callon Petroleum by 139.0% during the third quarter. Strs Ohio now owns 9,800 shares of the oil and natural gas company’s stock worth $117,000 after purchasing an additional 5,700 shares in the last quarter. MML Investors Services LLC acquired a new position in shares of Callon Petroleum during the third quarter worth approximately $144,000. Marietta Investment Partners LLC acquired a new position in shares of Callon Petroleum during the second quarter worth approximately $153,000. Finally, HPM Partners LLC acquired a new position in shares of Callon Petroleum during the second quarter worth approximately $161,000.
About Callon Petroleum (NYSE:CPE)
Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional onshore, oil, and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2017, its estimated net proved reserves totaled 137.0 million barrel of oil equivalent.
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