Stifel Nicolaus Trims Callon Petroleum (NYSE:CPE) Target Price to $53.00

Callon Petroleum (NYSE:CPE – Get Rating) had its target price trimmed by Stifel Nicolaus from $58.00 to $53.00 in a research report released on Tuesday morning, The Fly reports.

A number of other equities analysts also recently issued reports on CPE. Morgan Stanley decreased their price target on shares of Callon Petroleum from $45.00 to $43.00 and set an equal weight rating for the company in a research note on Wednesday, April 19th. Royal Bank of Canada reissued an outperform rating and issued a $60.00 price target on shares of Callon Petroleum in a research note on Wednesday, March 22nd. Citigroup cut their price objective on shares of Callon Petroleum from $40.00 to $36.00 in a report on Sunday, May 21st. Truist Financial upped their price objective on shares of Callon Petroleum from $55.00 to $71.00 in a report on Monday, May 8th. Finally, Mizuho cut their price objective on shares of Callon Petroleum from $65.00 to $54.00 in a report on Friday, March 10th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $55.50.

Callon Petroleum Stock Performance

Shares of NYSE:CPE opened at $31.73 on Tuesday. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 1.41 and a beta of 2.73. The company has a 50-day moving average price of $33.22 and a 200-day moving average price of $37.08. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.60. Callon Petroleum has a 12 month low of $28.91 and a 12 month high of $64.08.

Callon Petroleum (NYSE:CPE – Get Rating) last issued its quarterly earnings data on Wednesday, May 3rd. The oil and natural gas company reported $1.94 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.02). The firm had revenue of $560.00 million for the quarter, compared to the consensus estimate of $535.29 million. Callon Petroleum had a net margin of 46.15% and a return on equity of 27.29%. The business’s revenue was down 27.9% on a year-over-year basis. During the same period last year, the company posted $3.43 earnings per share. As a group, equities analysts anticipate that Callon Petroleum will post 9.11 EPS for the current year.

Insider Activity

In other news, Director Steven A. Webster purchased 10,000 shares of the business’s stock in a transaction dated Thursday, May 11th. The shares were purchased at an average price of $30.24 per share, for a total transaction of $302,400.00. Following the completion of the acquisition, the director now directly owns 592,824 shares in the company, valued at approximately $17,926,997.76. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Steven A. Webster bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were bought at an average price of $30.24 per share, for a total transaction of $302,400.00. Following the completion of the acquisition, the director now owns 592,824 shares of the company’s stock, valued at approximately $17,926,997.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven A. Webster bought 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The stock was bought at an average price of $31.63 per share, for a total transaction of $632,600.00. Following the acquisition, the director now directly owns 562,824 shares of the company’s stock, valued at approximately $17,802,123.12. The disclosure for this purchase can be found here. Insiders have bought a total of 30,250 shares of company stock worth $944,795 over the last 90 days. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Callon Petroleum

Several institutional investors and hedge funds have recently added to or reduced their stakes in CPE. Strs Ohio bought a new position in Callon Petroleum in the first quarter worth approximately $26,000. Banque Cantonale Vaudoise bought a new position in Callon Petroleum in the first quarter worth approximately $33,000. Quadrant Capital Group LLC raised its position in Callon Petroleum by 220.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,147 shares of the oil and natural gas company’s stock worth $43,000 after acquiring an additional 789 shares during the period. U.S. Capital Wealth Advisors LLC bought a new position in Callon Petroleum in the fourth quarter worth approximately $50,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in Callon Petroleum in the fourth quarter worth approximately $97,000. Hedge funds and other institutional investors own 83.60% of the company’s stock.

Callon Petroleum Company Profile

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Callon Petroleum Co engages in the exploration, development, acquisition, and production of oil and natural gas properties in the United States. It focuses on unconventional oil and natural gas reserves in the Permian Basin. The company was founded by Sim C. Callon and John S. Callon in 1950 and is headquartered in Houston, TX.