Callon Petroleum (NYSE:CPE) Sets New 52-Week Low at $3.75

Callon Petroleum (NYSE:CPE)’s share price reached a new 52-week low on Thursday . The stock traded as low as $3.75 and last traded at $3.97, with a volume of 17956580 shares. The stock had previously closed at $3.92.

Several research analysts have recently weighed in on the stock. ValuEngine upgraded shares of Callon Petroleum from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Jefferies Financial Group lowered shares of Callon Petroleum from a “buy” rating to a “hold” rating and set a $11.00 price objective on the stock. in a research note on Monday, July 15th. Morgan Stanley lowered their price objective 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. Citigroup lowered their price objective 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. Finally, Evercore ISI restated a “hold” rating and set a $12.00 price objective 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 thirteen have given a buy rating to the company’s stock. Callon Petroleum presently has a consensus rating of “Buy” and an average target price of $10.83.

The stock’s fifty day moving average price is $4.36 and its two-hundred day moving average price is $6.10. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market cap of $897.24 million, a P/E ratio of 4.79, a P/E/G ratio of 0.49 and a beta of 1.42.

Callon Petroleum (NYSE:CPE) last issued its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.18 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.18. The company 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 firm’s quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 EPS. On average, equities research analysts forecast that Callon Petroleum will post 0.74 EPS for the current year.

Large investors have recently modified their holdings of the stock. Neuburgh Advisers LLC increased its position in Callon Petroleum by 6.4% in the 2nd quarter. Neuburgh Advisers LLC now owns 36,916 shares of the oil and natural gas company’s stock valued at $243,000 after acquiring an additional 2,222 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in Callon Petroleum by 0.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 540,255 shares of the oil and natural gas company’s stock valued at $3,560,000 after acquiring an additional 2,323 shares during the period. Nikko Asset Management Americas Inc. increased its position in Callon Petroleum by 0.4% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 540,255 shares of the oil and natural gas company’s stock valued at $3,560,000 after acquiring an additional 2,323 shares during the period. Riverhead Capital Management LLC increased its position in Callon Petroleum by 6.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 42,000 shares of the oil and natural gas company’s stock valued at $277,000 after acquiring an additional 2,600 shares during the period. Finally, Tyers Asset Management LLC increased its position in Callon Petroleum by 6.4% in the 2nd quarter. Tyers Asset Management LLC now owns 46,984 shares of the oil and natural gas company’s stock valued at $310,000 after acquiring an additional 2,828 shares during the period.

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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