Callon Petroleum (NYSE:CPE) Stock Price Up 7.9%

Share on StockTwits

Callon Petroleum (NYSE:CPE)’s share price rose 7.9% on Wednesday . The company traded as high as $4.12 and last traded at $4.11, approximately 10,931,902 shares were traded during mid-day trading. An increase of 4% from the average daily volume of 10,561,166 shares. The stock had previously closed at $3.81.

CPE has been the topic of a number of research analyst reports. Imperial Capital cut their target price on shares of Callon Petroleum from $16.00 to $11.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 16th. ValuEngine upgraded shares of Callon Petroleum from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group downgraded shares of Callon Petroleum from a “buy” rating to a “hold” rating and set a $11.00 price target for the company. in a research note on Monday, July 15th. Morgan Stanley dropped their price target on shares of Callon Petroleum from $6.25 to $4.75 and set an “equal weight” rating for the company in a research note on Friday, October 4th. Finally, 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $10.52.

The company’s 50 day moving average price is $4.22 and its 200-day moving average price is $5.76. The stock has a market cap of $847.31 million, a P/E ratio of 5.01, a P/E/G ratio of 0.47 and a beta of 1.42. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.44.

Callon Petroleum (NYSE:CPE) last released its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.18 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. The firm had revenue of $167.05 million during the quarter, compared to the consensus estimate of $163.05 million. Callon Petroleum had a net margin of 35.72% and a return on equity of 7.57%. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 earnings per share. Equities research analysts anticipate that Callon Petroleum will post 0.72 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in CPE. Macquarie Group Ltd. raised its stake in Callon Petroleum by 1,098.7% during the second quarter. Macquarie Group Ltd. now owns 7,230,540 shares of the oil and natural gas company’s stock worth $47,649,000 after buying an additional 6,627,337 shares during the last quarter. Morgan Stanley raised its stake in Callon Petroleum by 212.7% during the second quarter. Morgan Stanley now owns 3,999,820 shares of the oil and natural gas company’s stock worth $26,359,000 after buying an additional 2,720,650 shares during the last quarter. AQR Capital Management LLC raised its stake in Callon Petroleum by 5,662.1% during the second quarter. AQR Capital Management LLC now owns 2,507,367 shares of the oil and natural gas company’s stock worth $16,273,000 after buying an additional 2,463,852 shares during the last quarter. Nuveen Asset Management LLC raised its stake in Callon Petroleum by 44.6% during the second quarter. Nuveen Asset Management LLC now owns 5,342,720 shares of the oil and natural gas company’s stock worth $35,208,000 after buying an additional 1,647,886 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Callon Petroleum by 184.1% during the second quarter. JPMorgan Chase & Co. now owns 2,338,135 shares of the oil and natural gas company’s stock worth $14,894,000 after buying an additional 1,515,172 shares during the last quarter.

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 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.

Recommended Story: Why Invest in Dividend Achievers?

Receive News & Ratings for Callon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Beazer Homes USA  Announces Quarterly  Earnings Results, Misses Expectations By $0.72 EPS
Beazer Homes USA Announces Quarterly Earnings Results, Misses Expectations By $0.72 EPS
NetSol Technologies  Posts  Earnings Results, Misses Expectations By $0.31 EPS
NetSol Technologies Posts Earnings Results, Misses Expectations By $0.31 EPS
Northern 2 VCT plc Declares Dividend of GBX 2
Northern 2 VCT plc Declares Dividend of GBX 2
Shoker Investment Counsel Inc. Sells 15,160 Shares of AK Steel Holding Co.
Shoker Investment Counsel Inc. Sells 15,160 Shares of AK Steel Holding Co.
Altria Group Inc  Shares Bought by Torray LLC
Altria Group Inc Shares Bought by Torray LLC
Torray LLC Acquires 244 Shares of LyondellBasell Industries NV
Torray LLC Acquires 244 Shares of LyondellBasell Industries NV


 
© 2006-2019 Zolmax.