Callon Petroleum (NYSE:CPE) Price Target Increased to $13.00 by Analysts at Imperial Capital

Callon Petroleum (NYSE:CPE) had its price target hoisted by Imperial Capital from $10.00 to $13.00 in a report released on Monday, December 23rd, The Fly reports. Imperial Capital currently has an outperform rating on the oil and natural gas company’s stock. Imperial Capital also issued estimates for Callon Petroleum’s Q1 2020 earnings at $0.29 EPS, Q2 2020 earnings at $0.28 EPS, Q3 2020 earnings at $0.30 EPS, Q4 2020 earnings at $0.34 EPS and FY2020 earnings at $1.22 EPS.

Several other analysts have also weighed in on the stock. Johnson Rice lowered shares of Callon Petroleum from a buy rating to an accumulate rating in a report on Tuesday, November 19th. Morgan Stanley decreased their price target on shares of Callon Petroleum from $6.25 to $4.75 and set an equal weight rating on the stock in a research note on Friday, October 4th. Barclays decreased their price target on shares of Callon Petroleum from $9.00 to $6.00 and set an overweight rating on the stock in a research note on Friday, August 30th. Northland Securities reissued a buy rating and set a $7.00 price target on shares of Callon Petroleum in a research note on Monday, November 18th. Finally, Williams Capital set a $8.00 price target on shares of Callon Petroleum and gave the company a buy rating in a research note on Monday, October 21st. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $9.57.

Shares of NYSE CPE traded down $0.24 during mid-day trading on Monday, hitting $3.86. 30,087,298 shares of the stock were exchanged, compared to its average volume of 15,701,915. The company has a market cap of $936.38 million, a P/E ratio of 5.47, a PEG ratio of 0.18 and a beta of 1.60. The stock’s fifty day simple moving average is $4.37 and its two-hundred day simple moving average is $4.51. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.55 and a current ratio of 0.55. Callon Petroleum has a twelve month low of $3.51 and a twelve month high of $8.55.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The company had revenue of $155.38 million during the quarter, compared to analyst estimates of $152.61 million. Callon Petroleum had a net margin of 38.86% and a return on equity of 7.48%. The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted $0.21 earnings per share. As a group, equities research analysts predict that Callon Petroleum will post 0.74 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FTB Advisors Inc. boosted its stake in Callon Petroleum by 94.2% in the fourth quarter. FTB Advisors Inc. now owns 8,208 shares of the oil and natural gas company’s stock valued at $39,000 after acquiring an additional 3,982 shares during the last quarter. Advisor Partners LLC bought a new position in Callon Petroleum in the third quarter valued at approximately $46,000. Cornerstone Investment Partners LLC boosted its stake in Callon Petroleum by 23.6% in the third quarter. Cornerstone Investment Partners LLC now owns 13,312 shares of the oil and natural gas company’s stock valued at $58,000 after acquiring an additional 2,544 shares during the last quarter. Signaturefd LLC boosted its stake in Callon Petroleum by 78.1% in the third quarter. Signaturefd LLC now owns 14,244 shares of the oil and natural gas company’s stock valued at $62,000 after acquiring an additional 6,246 shares during the last quarter. Finally, Enterprise Bank & Trust Co bought a new position in Callon Petroleum in the fourth quarter valued at approximately $63,000.

About Callon Petroleum

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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