Callon Petroleum’s (CPE) Buy Rating Reaffirmed at Northland Securities

Northland Securities reissued their buy rating on shares of Callon Petroleum (NYSE:CPE) in a research note released on Monday morning, AnalystRatings.com reports. Northland Securities currently has a $7.00 price objective on the oil and natural gas company’s stock.

A number of other research analysts also recently issued reports on the company. Citigroup cut their price target on Callon Petroleum from $10.00 to $8.50 and set a buy rating on the stock in a report on Monday, September 23rd. Evercore ISI reiterated a hold rating and issued a $12.00 price target on shares of Callon Petroleum in a report on Thursday, August 8th. Williams Capital set a $8.00 price target on Callon Petroleum and gave the company a buy rating in a report on Monday, October 21st. Morgan Stanley cut their price target on Callon Petroleum from $6.25 to $4.75 and set an equal weight rating on the stock in a report on Friday, October 4th. Finally, ValuEngine upgraded Callon Petroleum from a strong sell rating to a sell rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. Callon Petroleum has an average rating of Buy and an average target price of $9.63.

Shares of NYSE:CPE traded down $0.26 on Monday, reaching $3.68. The company had a trading volume of 18,162,041 shares, compared to its average volume of 11,640,004. Callon Petroleum has a 52-week low of $3.67 and a 52-week high of $9.53. The firm’s 50 day simple moving average is $4.11 and its 200-day simple moving average is $5.30. The firm has a market capitalization of $998.05 million, a PE ratio of 4.49, a PEG ratio of 0.34 and a beta of 1.46. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.48.

Callon Petroleum (NYSE:CPE) last announced its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. Callon Petroleum had a return on equity of 7.48% and a net margin of 38.86%. The business had revenue of $155.38 million for the quarter, compared to the consensus estimate of $152.61 million. During the same period last year, the business posted $0.21 EPS. The business’s revenue was down 3.6% compared to the same quarter last year. As a group, equities research analysts predict that Callon Petroleum will post 0.72 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. Advisor Partners LLC acquired a new stake in Callon Petroleum during the 3rd quarter worth about $46,000. Cornerstone Investment Partners LLC lifted its position in Callon Petroleum by 23.6% during the 3rd quarter. Cornerstone Investment Partners LLC now owns 13,312 shares of the oil and natural gas company’s stock worth $58,000 after acquiring an additional 2,544 shares during the period. Signaturefd LLC lifted its position in Callon Petroleum by 78.1% during the 3rd quarter. Signaturefd LLC now owns 14,244 shares of the oil and natural gas company’s stock worth $62,000 after acquiring an additional 6,246 shares during the period. Sigma Planning Corp acquired a new stake in Callon Petroleum during the 3rd quarter worth about $64,000. Finally, Abacus Planning Group Inc. acquired a new stake in Callon Petroleum during the 3rd quarter worth about $65,000.

Callon Petroleum Company Profile

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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Analyst Recommendations for Callon Petroleum (NYSE:CPE)

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