Callon Petroleum (NYSE:CPE) Receives Consensus Rating of “Hold” from Analysts

Shares of Callon Petroleum (NYSE:CPE – Get Rating) have been given an average recommendation of “Hold” by the nine brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $76.29.

Several research firms have recently commented on CPE. Roth Capital raised shares of Callon Petroleum from a “neutral” rating to a “buy” rating and set a $80.00 target price for the company in a research report on Monday, April 18th. Royal Bank of Canada raised shares of Callon Petroleum from a “sector perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Wednesday, July 6th. Wells Fargo & Company lowered their price target on shares of Callon Petroleum from $78.00 to $70.00 and set an “equal weight” rating for the company in a research report on Monday, July 11th. JPMorgan Chase & Co. lowered their price target on shares of Callon Petroleum from $75.00 to $68.00 and set an “underweight” rating for the company in a research report on Wednesday, July 6th. Finally, Morgan Stanley lowered their price target on shares of Callon Petroleum from $79.00 to $70.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 19th.

Callon Petroleum Trading Down 0.0 %

NYSE:CPE opened at $36.81 on Wednesday. The company has a 50-day moving average price of $45.13 and a 200-day moving average price of $51.51. Callon Petroleum has a 12 month low of $25.32 and a 12 month high of $66.48. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 1.11. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 2.51 and a beta of 2.74.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd purchased a new position in Callon Petroleum in the fourth quarter worth about $95,000. PNC Financial Services Group Inc. raised its holdings in Callon Petroleum by 25.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,296 shares of the oil and natural gas company’s stock worth $135,000 after buying an additional 462 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Callon Petroleum by 489.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,770 shares of the oil and natural gas company’s stock worth $137,000 after buying an additional 2,300 shares during the last quarter. US Asset Management LLC purchased a new position in Callon Petroleum in the first quarter worth about $157,000. Finally, KBC Group NV purchased a new position in Callon Petroleum in the second quarter worth about $168,000. 95.73% of the stock is owned by hedge funds and other institutional investors.

About Callon Petroleum

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Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, exploration, and development of oil and natural gas properties in Permian Basin in West Texas. As of December 31, 2021, its estimated net proved reserves totaled approximately 484.6 million barrel of oil equivalent, including 290.3 MMBbls oil, 577.3 Bcf of natural gas, and 98.1 MMBbls of natural gas liquids.