Callon Petroleum (CPE) PT Set at $12.00 by SunTrust Banks

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Callon Petroleum (NYSE:CPE) received a $12.00 target price from SunTrust Banks in a research note issued to investors on Tuesday, TipRanks reports. The firm currently has a “buy” rating on the oil and natural gas company’s stock. SunTrust Banks’ price objective would indicate a potential upside of 43.71% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Capital One Financial upgraded Callon Petroleum from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, January 9th. Barclays lowered Callon Petroleum from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $14.00 to $10.00 in a research report on Wednesday, January 16th. Citigroup upgraded Callon Petroleum from a “neutral” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Wednesday, January 23rd. Zacks Investment Research lowered Callon Petroleum from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 24th. Finally, Williams Capital restated a “buy” rating and issued a $12.00 price target on shares of Callon Petroleum in a research report on Monday, February 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $13.94.

NYSE:CPE traded down $0.06 during trading hours on Tuesday, hitting $8.35. 141,849 shares of the stock were exchanged, compared to its average volume of 6,023,090. Callon Petroleum has a 52-week low of $5.57 and a 52-week high of $14.65. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.49. The firm has a market cap of $1.89 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 0.84 and a beta of 1.53.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings data on Tuesday, February 26th. The oil and natural gas company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.05). Callon Petroleum had a return on equity of 8.11% and a net margin of 51.11%. The firm had revenue of $161.90 million for the quarter, compared to analysts’ expectations of $164.50 million. On average, research analysts forecast that Callon Petroleum will post 0.87 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CPE. Thrivent Financial for Lutherans raised its stake in shares of Callon Petroleum by 208.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,823,096 shares of the oil and natural gas company’s stock valued at $50,772,000 after acquiring an additional 5,285,401 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Callon Petroleum by 5.2% during the fourth quarter. BlackRock Inc. now owns 26,888,623 shares of the oil and natural gas company’s stock worth $174,508,000 after purchasing an additional 1,326,915 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Callon Petroleum by 25.4% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,264,141 shares of the oil and natural gas company’s stock worth $40,655,000 after purchasing an additional 1,268,538 shares during the last quarter. Norges Bank purchased a new position in shares of Callon Petroleum during the fourth quarter worth about $6,803,000. Finally, Weiss Multi Strategy Advisers LLC grew its holdings in shares of Callon Petroleum by 313.7% during the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 1,224,550 shares of the oil and natural gas company’s stock worth $7,947,000 after purchasing an additional 928,550 shares during 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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Analyst Recommendations for Callon Petroleum (NYSE:CPE)

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