Callon Petroleum’s (CPE) Hold Rating Reaffirmed at Evercore ISI

Evercore ISI reaffirmed their hold rating on shares of Callon Petroleum (NYSE:CPE) in a report published on Thursday morning, AnalystRatings.com reports. They currently have a $12.00 price objective on the oil and natural gas company’s stock.

“We see further improvement in LOE in 3Q before blending in higher CRZO LOE in 4Q (reported ~$7.50/boe in 1Q) which we expect the combined co to actively work down during 2020.”,” Evercore ISI’s analyst commented.

Several other research analysts have also recently commented on the company. Roth Capital set a $12.00 price target on Callon Petroleum and gave the stock a buy rating in a research note on Friday, June 14th. Williams Capital cut their price objective on Callon Petroleum from $12.00 to $10.00 and set a buy rating on the stock in a research note on Tuesday, July 16th. Stephens set a $11.00 price objective on Callon Petroleum and gave the company a buy rating in a research note on Wednesday, May 22nd. Northland Securities restated a buy rating and set a $10.00 price objective on shares of Callon Petroleum in a research note on Wednesday. Finally, Morgan Stanley set a $8.00 price objective on Callon Petroleum and gave the company a hold rating in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $12.32.

Shares of NYSE:CPE traded up $0.12 during trading on Thursday, hitting $5.16. The company’s stock had a trading volume of 14,876,454 shares, compared to its average volume of 21,634,150. The company has a quick ratio of 0.53, a current ratio of 0.47 and a debt-to-equity ratio of 0.44. Callon Petroleum has a fifty-two week low of $4.13 and a fifty-two week high of $13.09. The firm’s 50-day simple moving average is $5.63. The stock has a market capitalization of $1.15 billion, a P/E ratio of 6.29, a PEG ratio of 0.59 and a beta of 1.44.

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, hitting the Thomson Reuters’ consensus estimate of $0.18. Callon Petroleum had a return on equity of 7.57% and a net margin of 35.72%. The business had revenue of $167.05 million for the quarter, compared to analysts’ expectations of $163.05 million. During the same quarter in the previous year, the firm posted $0.23 earnings per share. The company’s revenue was up 21.9% compared to the same quarter last year. Equities research analysts forecast that Callon Petroleum will post 0.77 EPS for the current year.

Several large investors have recently bought and sold shares of the company. Systematic Financial Management LP grew its stake in Callon Petroleum by 1.2% in the 1st quarter. Systematic Financial Management LP now owns 1,369,930 shares of the oil and natural gas company’s stock valued at $10,343,000 after buying an additional 16,811 shares during the last quarter. Moody Aldrich Partners LLC raised its position in shares of Callon Petroleum by 52.9% during the 2nd quarter. Moody Aldrich Partners LLC now owns 576,267 shares of the oil and natural gas company’s stock worth $3,798,000 after acquiring an additional 199,346 shares in the last quarter. Balasa Dinverno & Foltz LLC raised its position in shares of Callon Petroleum by 69.8% during the 1st quarter. Balasa Dinverno & Foltz LLC now owns 22,934 shares of the oil and natural gas company’s stock worth $173,000 after acquiring an additional 9,424 shares in the last quarter. Columbus Circle Investors raised its position in shares of Callon Petroleum by 3.8% during the 1st quarter. Columbus Circle Investors now owns 1,539,795 shares of the oil and natural gas company’s stock worth $11,625,000 after acquiring an additional 55,793 shares in the last quarter. Finally, Tributary Capital Management LLC raised its position in shares of Callon Petroleum by 15.6% during the 1st quarter. Tributary Capital Management LLC now owns 2,098,046 shares of the oil and natural gas company’s stock worth $15,840,000 after acquiring an additional 282,381 shares in the last quarter.

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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