Callon Petroleum (NYSE:CPE) Shares Down 6.1%

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Callon Petroleum (NYSE:CPE)’s stock price fell 6.1% on Thursday . The stock traded as low as $4.15 and last traded at $4.19, 54,320,182 shares traded hands during mid-day trading. An increase of 372% from the average session volume of 11,497,813 shares. The stock had previously closed at $4.46.

Several brokerages have commented on CPE. Williams Capital set a $8.00 price target on shares of Callon Petroleum and gave the company a “buy” rating in a research note on Monday, October 21st. Citigroup dropped their price target on shares of Callon Petroleum from $10.00 to $8.50 and set a “buy” rating on the stock in a research note on Monday, September 23rd. ValuEngine upgraded shares of Callon Petroleum from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Morgan Stanley dropped their price target on shares of Callon Petroleum from $6.25 to $4.75 and set an “equal weight” rating on the stock in a research note on Friday, October 4th. Finally, Evercore ISI reiterated a “hold” rating and issued a $12.00 price target on shares of Callon Petroleum in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. Callon Petroleum has an average rating of “Buy” and an average price target of $9.63.

The company has a market capitalization of $1.06 billion, a PE ratio of 5.11, a price-to-earnings-growth ratio of 0.36 and a beta of 1.46. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.55 and a quick ratio of 0.55. The company’s 50 day simple moving average is $4.12 and its 200 day simple moving average is $5.37.

Callon Petroleum (NYSE:CPE) last announced its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The company had revenue of $155.38 million for the quarter, compared to analyst estimates of $152.61 million. Callon Petroleum had a net margin of 38.86% and a return on equity of 7.48%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 earnings per share. On average, equities analysts forecast that Callon Petroleum will post 0.72 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Moody Aldrich Partners LLC grew its position in shares of Callon Petroleum by 52.9% during the second quarter. Moody Aldrich Partners LLC now owns 576,267 shares of the oil and natural gas company’s stock worth $3,798,000 after acquiring an additional 199,346 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Callon Petroleum by 95.5% in the third quarter. Oppenheimer & Co. Inc. now owns 52,600 shares of the oil and natural gas company’s stock valued at $228,000 after acquiring an additional 25,700 shares during the period. Aviva PLC acquired a new stake in Callon Petroleum in the second quarter valued at $1,121,000. Schroder Investment Management Group lifted its holdings in Callon Petroleum by 15.9% in the second quarter. Schroder Investment Management Group now owns 1,868,992 shares of the oil and natural gas company’s stock valued at $12,317,000 after acquiring an additional 256,679 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in Callon Petroleum by 25.0% in the second quarter. Prudential Financial Inc. now owns 1,365,280 shares of the oil and natural gas company’s stock valued at $8,997,000 after acquiring an additional 273,240 shares during the period.

Callon Petroleum Company Profile (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 and southeastern New Mexico. As of December 31, 2018, its estimated net proved reserves totaled 238.5 million barrel of oil equivalent, including 180.1 MMBbls of oil and 350.5 Bcf of natural gas.

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