Callon Petroleum (NYSE:CPE) Coverage Initiated by Analysts at StockNews.com

Posted by Defense World Staff on May 15th, 2024

StockNews.com began coverage on shares of Callon Petroleum (NYSE:CPE – Get Free Report) in a research report issued to clients and investors on Wednesday. The firm set a “hold” rating on the oil and natural gas company’s stock.

Several other equities analysts have also recently weighed in on the stock. Stifel Nicolaus reaffirmed a “hold” rating and set a $32.00 price target (down from $44.00) on shares of Callon Petroleum in a research note on Tuesday, January 23rd. Mizuho lowered their price target on shares of Callon Petroleum from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, March 15th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Callon Petroleum has a consensus rating of “Hold” and a consensus price target of $40.33.

Read Our Latest Report on Callon Petroleum

Callon Petroleum Stock Performance

Shares of NYSE:CPE opened at $35.76 on Wednesday. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 5.87 and a beta of 2.46. Callon Petroleum has a 12 month low of $28.62 and a 12 month high of $41.36. The company’s fifty day simple moving average is $35.14 and its 200 day simple moving average is $33.41. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.48.

Callon Petroleum (NYSE:CPE – Get Free Report) last released its quarterly earnings results on Monday, February 26th. The oil and natural gas company reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.12). The firm had revenue of $601.36 million during the quarter, compared to analyst estimates of $563.30 million. Callon Petroleum had a net margin of 17.12% and a return on equity of 12.65%. As a group, research analysts forecast that Callon Petroleum will post 6.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its stake in Callon Petroleum by 510.9% in the 3rd quarter. Royal Bank of Canada now owns 1,674,634 shares of the oil and natural gas company’s stock valued at $65,511,000 after acquiring an additional 1,400,493 shares during the period. Fifth Lane Capital LP acquired a new stake in shares of Callon Petroleum during the 1st quarter worth about $18,771,000. abrdn plc bought a new stake in shares of Callon Petroleum during the 3rd quarter worth about $17,332,000. Boston Trust Walden Corp grew its stake in Callon Petroleum by 54.2% in the 4th quarter. Boston Trust Walden Corp now owns 1,101,367 shares of the oil and natural gas company’s stock valued at $35,684,000 after buying an additional 387,125 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Callon Petroleum by 1,839.8% in the 3rd quarter. Victory Capital Management Inc. now owns 251,399 shares of the oil and natural gas company’s stock valued at $9,835,000 after acquiring an additional 238,439 shares during the period. Institutional investors own 91.08% of the company’s stock.

Callon Petroleum Company Profile

(Get Free Report)

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, exploration, and development of oil and natural gas properties in West Texas. Callon Petroleum Company was founded in 1950 and is headquartered in Houston, Texas.