Callon Petroleum (NYSE:CPE) shares traded down 7.1% during trading on Friday . The company traded as low as $4.15 and last traded at $4.19, 14,105,414 shares traded hands during mid-day trading. An increase of 62% from the average session volume of 8,714,479 shares. The stock had previously closed at $4.51.
A number of research analysts have commented on the company. Roth Capital set a $12.00 price objective on Callon Petroleum and gave the company a “buy” rating in a research report on Friday, June 14th. Evercore ISI reiterated a “hold” rating and issued a $12.00 price objective on shares of Callon Petroleum in a research report on Thursday, August 8th. Capital One Financial upgraded Callon Petroleum from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. Williams Capital reduced their price target on Callon Petroleum from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, July 16th. Finally, Stephens set a $11.00 price target on Callon Petroleum and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Callon Petroleum currently has a consensus rating of “Buy” and a consensus target price of $11.65.
The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market capitalization of $1.03 billion, a P/E ratio of 5.86, a price-to-earnings-growth ratio of 0.54 and a beta of 1.44. The company has a 50-day moving average price of $5.11 and a 200-day moving average price of $6.77.
A number of institutional investors have recently modified their holdings of CPE. Private Capital Group LLC raised its stake in shares of Callon Petroleum by 135.5% in the 1st quarter. Private Capital Group LLC now owns 4,164 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 2,396 shares during the period. Miller Investment Management LP acquired a new stake in shares of Callon Petroleum in the 1st quarter valued at about $76,000. Cornerstone Investment Partners LLC acquired a new stake in shares of Callon Petroleum in the 1st quarter valued at about $81,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Callon Petroleum in the 2nd quarter valued at about $68,000. Finally, Signaturefd LLC raised its stake in shares of Callon Petroleum by 50.1% in the 1st quarter. Signaturefd LLC now owns 11,314 shares of the oil and natural gas company’s stock valued at $85,000 after purchasing an additional 3,777 shares during the period.
About Callon Petroleum (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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