Callon Petroleum (NYSE:CPE) Shares Down 6.2%

Callon Petroleum (NYSE:CPE)’s share price traded down 6.2% on Thursday . The company traded as low as $4.35 and last traded at $4.36, 14,219,361 shares traded hands during mid-day trading. An increase of 52% from the average session volume of 9,330,334 shares. The stock had previously closed at $4.65.

A number of research analysts recently weighed in on the stock. Stephens set a $11.00 price objective on shares of Callon Petroleum and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Evercore ISI reiterated a “hold” rating and issued a $12.00 price objective on shares of Callon Petroleum in a research note on Thursday, August 8th. Northland Securities reiterated a “buy” rating and issued a $10.00 price objective on shares of Callon Petroleum in a research note on Wednesday, August 7th. Jefferies Financial Group lowered shares of Callon Petroleum from a “buy” rating to a “hold” rating and set a $11.00 price objective for the company. in a research note on Monday, July 15th. Finally, Williams Capital reduced their price objective on shares of Callon Petroleum from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Callon Petroleum has an average rating of “Buy” and an average price target of $11.47.

The business’s 50-day moving average price is $4.49 and its 200 day moving average price is $6.42. The stock has a market capitalization of $995.41 million, a PE ratio of 5.32, a price-to-earnings-growth ratio of 0.57 and a beta of 1.46. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.47 and a current ratio of 0.47.



Callon Petroleum (NYSE:CPE) last released its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The firm had revenue of $167.05 million during the quarter, compared to analyst estimates of $163.05 million. Callon Petroleum had a net margin of 35.72% and a return on equity of 7.57%. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 EPS. As a group, equities research analysts predict that Callon Petroleum will post 0.75 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CPE. Morgan Stanley grew its position in shares of Callon Petroleum by 212.7% during the 2nd quarter. Morgan Stanley now owns 3,999,820 shares of the oil and natural gas company’s stock valued at $26,359,000 after purchasing an additional 2,720,650 shares in the last quarter. AQR Capital Management LLC grew its position in Callon Petroleum by 5,662.1% in 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 acquiring an additional 2,463,852 shares in the last quarter. Westwood Holdings Group Inc. grew its position in Callon Petroleum by 52.7% in the first quarter. Westwood Holdings Group Inc. now owns 5,591,310 shares of the oil and natural gas company’s stock worth $42,214,000 after acquiring an additional 1,929,367 shares in the last quarter. Nuveen Asset Management LLC grew its position in Callon Petroleum by 44.6% in 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 acquiring an additional 1,647,886 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Callon Petroleum by 184.1% in 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 acquiring an additional 1,515,172 shares in 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.

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