Callon Petroleum (NYSE:CPE) Coverage Initiated at StockNews.com

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

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

Callon Petroleum Stock Performance

CPE stock opened at $35.76 on Tuesday. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 5.87 and a beta of 2.46. Callon Petroleum has a twelve month low of $28.62 and a twelve month high of $41.36. The business’s fifty day simple moving average is $34.80 and its two-hundred day simple moving average is $33.53. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.48.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results 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). The business had revenue of $601.36 million during the quarter, compared to the consensus estimate of $563.30 million. Callon Petroleum had a net margin of 17.12% and a return on equity of 12.65%. Analysts predict that Callon Petroleum will post 6.56 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its position in Callon Petroleum by 71.7% in the first quarter. ProShare Advisors LLC now owns 19,536 shares of the oil and natural gas company’s stock valued at $699,000 after purchasing an additional 8,158 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Callon Petroleum by 12.2% in the 1st quarter. Russell Investments Group Ltd. now owns 99,439 shares of the oil and natural gas company’s stock valued at $3,555,000 after buying an additional 10,810 shares during the period. QRG Capital Management Inc. purchased a new stake in shares of Callon Petroleum in the first quarter valued at approximately $278,000. SG Americas Securities LLC grew its holdings in Callon Petroleum by 59.7% during the first quarter. SG Americas Securities LLC now owns 5,341 shares of the oil and natural gas company’s stock worth $191,000 after acquiring an additional 1,996 shares during the period. Finally, Texas Permanent School Fund Corp raised its position in Callon Petroleum by 23.5% in the first 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. Institutional investors and hedge funds 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.