Stephens Analysts Give Callon Petroleum (CPE) a $11.00 Price Target

Stephens set a $11.00 price objective on Callon Petroleum (NYSE:CPE) in a research note issued to investors on Wednesday morning, TipRanks reports. The brokerage currently has a buy rating on the oil and natural gas company’s stock.

Several other brokerages have also commented on CPE. Zacks Investment Research lowered shares of Callon Petroleum from a hold rating to a strong sell rating in a research note on Thursday, January 24th. Williams Capital reaffirmed a buy rating and set a $12.00 price objective on shares of Callon Petroleum in a report on Monday, February 11th. Imperial Capital reaffirmed an outperform rating and set a $15.00 price objective (up from $12.00) on shares of Callon Petroleum in a report on Wednesday, February 13th. Capital One Financial downgraded shares of Callon Petroleum from an overweight rating to an equal weight rating in a report on Wednesday, March 20th. Finally, Morgan Stanley initiated coverage on shares of Callon Petroleum in a report on Thursday, March 21st. They set an equal weight rating and a $9.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $13.63.

CPE stock opened at $6.81 on Wednesday. Callon Petroleum has a 12 month low of $5.57 and a 12 month high of $13.38. The company has a market cap of $1.55 billion, a P/E ratio of 8.30, a price-to-earnings-growth ratio of 0.77 and a beta of 1.50. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.55.

Callon Petroleum (NYSE:CPE) last released its earnings results on Tuesday, February 26th. The oil and natural gas company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.05). The business had revenue of $161.90 million for the quarter, compared to analyst estimates of $164.50 million. Callon Petroleum had a net margin of 36.70% and a return on equity of 7.55%. Equities analysts predict that Callon Petroleum will post 0.92 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its position in Callon Petroleum by 968.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 11,695 shares of the oil and natural gas company’s stock worth $76,000 after acquiring an additional 10,600 shares in the last quarter. First National Bank of Omaha increased its holdings in Callon Petroleum by 2.8% in the 4th quarter. First National Bank of Omaha now owns 159,882 shares of the oil and natural gas company’s stock worth $1,038,000 after acquiring an additional 4,312 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Callon Petroleum by 0.5% in the 4th quarter. Fisher Asset Management LLC now owns 2,916,256 shares of the oil and natural gas company’s stock worth $18,927,000 after acquiring an additional 15,544 shares during the last quarter. AMI Asset Management Corp increased its holdings in Callon Petroleum by 0.5% in the 4th quarter. AMI Asset Management Corp now owns 460,701 shares of the oil and natural gas company’s stock worth $2,990,000 after acquiring an additional 2,467 shares during the last quarter. Finally, Ninepoint Partners LP purchased a new stake in Callon Petroleum in the 4th quarter worth about $5,192,000.

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 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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