Callon Petroleum (CPE) Coverage Initiated at Williams Capital

Williams Capital began coverage on shares of Callon Petroleum (NYSE:CPE) in a report published on Wednesday morning. The firm issued a buy rating and a $16.00 target price on the oil and natural gas company’s stock.

Other equities research analysts have also issued research reports about the company. KLR Group reiterated a buy rating and issued a $16.00 price target on shares of Callon Petroleum in a research report on Monday, August 20th. Stephens set a $20.00 price target on Callon Petroleum and gave the company a buy rating in a research report on Wednesday, July 25th. Piper Jaffray Companies reiterated a buy rating and issued a $20.00 price target on shares of Callon Petroleum in a research report on Sunday, August 12th. ValuEngine lowered Callon Petroleum from a hold rating to a sell rating in a research report on Friday, September 7th. Finally, Barclays began coverage on Callon Petroleum in a research report on Wednesday, August 29th. They issued an overweight rating and a $14.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $16.15.

NYSE CPE opened at $10.13 on Wednesday. Callon Petroleum has a 12 month low of $9.75 and a 12 month high of $14.65. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 15.12 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.61 and a current ratio of 2.61.



Callon Petroleum (NYSE:CPE) last released its quarterly earnings results on Monday, August 6th. The oil and natural gas company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Callon Petroleum had a net margin of 31.27% and a return on equity of 7.25%. The company had revenue of $137.10 million during the quarter, compared to the consensus estimate of $133.66 million. During the same quarter last year, the firm posted $0.09 EPS. The company’s quarterly revenue was up 66.6% on a year-over-year basis. Equities research analysts expect that Callon Petroleum will post 0.86 EPS for the current year.

In related news, VP Mitzi P. Conn sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $11.76, for a total transaction of $176,400.00. Following the sale, the vice president now owns 42,062 shares in the company, valued at approximately $494,649.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.82% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the stock. MHI Funds LLC boosted its position in shares of Callon Petroleum by 36.6% during the 2nd quarter. MHI Funds LLC now owns 18,053 shares of the oil and natural gas company’s stock valued at $194,000 after purchasing an additional 4,837 shares in the last quarter. People s United Financial Inc. boosted its holdings in Callon Petroleum by 8.1% in the second quarter. People s United Financial Inc. now owns 65,335 shares of the oil and natural gas company’s stock worth $701,000 after acquiring an additional 4,882 shares in the last quarter. Liberty Mutual Group Asset Management Inc. boosted its holdings in Callon Petroleum by 12.3% in the second quarter. Liberty Mutual Group Asset Management Inc. now owns 44,645 shares of the oil and natural gas company’s stock worth $479,000 after acquiring an additional 4,893 shares in the last quarter. Strs Ohio boosted its holdings in Callon Petroleum by 139.0% in the third quarter. Strs Ohio now owns 9,800 shares of the oil and natural gas company’s stock worth $117,000 after acquiring an additional 5,700 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its holdings in Callon Petroleum by 14.3% in the second quarter. Louisiana State Employees Retirement System now owns 60,600 shares of the oil and natural gas company’s stock worth $651,000 after acquiring an additional 7,600 shares in the last quarter.

About Callon Petroleum

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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