Callon Petroleum (NYSE:CPE) Stock Price Down 6.1%

Callon Petroleum (NYSE:CPE) shares fell 6.1% during trading on Thursday . The stock traded as low as $4.15 and last traded at $4.19, 54,320,182 shares changed hands during mid-day trading. An increase of 372% from the average session volume of 11,497,813 shares. The stock had previously closed at $4.46.

Several research firms have commented on CPE. ValuEngine upgraded Callon Petroleum from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Evercore ISI restated a “hold” rating and issued a $12.00 price target on shares of Callon Petroleum in a report on Thursday, August 8th. Northland Securities set a $7.00 price target on Callon Petroleum and gave the company a “buy” rating in a report on Monday, October 21st. Barclays lowered their price target on Callon Petroleum from $9.00 to $6.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Finally, Morgan Stanley lowered their price target on Callon Petroleum from $6.25 to $4.75 and set an “equal weight” rating for the company in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. Callon Petroleum presently has a consensus rating of “Buy” and a consensus target price of $9.63.

The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market cap of $1.06 billion, a PE ratio of 5.11, a PEG ratio of 0.36 and a beta of 1.46. The stock has a fifty day moving average price of $4.12 and a 200-day moving average price of $5.37.

Callon Petroleum (NYSE:CPE) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $0.19 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $152.61 million. During the same quarter in the previous year, the business earned $0.21 EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, equities analysts predict that Callon Petroleum will post 0.72 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of CPE. First National Bank of Omaha grew its holdings in shares of Callon Petroleum by 11.6% during the 2nd quarter. First National Bank of Omaha now owns 181,403 shares of the oil and natural gas company’s stock worth $1,195,000 after purchasing an additional 18,839 shares during the period. Tributary Capital Management LLC lifted its position in Callon Petroleum by 6.7% during the 2nd quarter. Tributary Capital Management LLC now owns 2,238,659 shares of the oil and natural gas company’s stock worth $14,753,000 after acquiring an additional 140,613 shares in the last quarter. CWM Advisors LLC lifted its position in Callon Petroleum by 29.3% during the 2nd quarter. CWM Advisors LLC now owns 26,455 shares of the oil and natural gas company’s stock worth $174,000 after acquiring an additional 5,995 shares in the last quarter. Moody Aldrich Partners LLC lifted its position in 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. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Callon Petroleum by 0.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 540,255 shares of the oil and natural gas company’s stock worth $3,560,000 after acquiring an additional 2,323 shares in the last quarter.

Callon Petroleum Company Profile (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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