Callon Petroleum (NYSE:CPE) Lowered to Neutral at Citigroup

Callon Petroleum (NYSE:CPE) was downgraded by investment analysts at Citigroup from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, January 3rd, Marketbeat reports. They currently have a $13.00 target price on the oil and natural gas company’s stock. Citigroup’s price objective points to a potential upside of 1.40% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Northland Securities set a $16.00 price target on shares of Callon Petroleum and gave the company a “buy” rating in a research note on Monday, December 11th. Jefferies Group assumed coverage on shares of Callon Petroleum in a research note on Monday, October 9th. They set a “buy” rating and a $16.00 price target on the stock. Credit Suisse Group assumed coverage on shares of Callon Petroleum in a research report on Monday, December 11th. They set a “neutral” rating and a $12.00 price objective on the stock. BMO Capital Markets reiterated a “buy” rating and set a $15.00 price objective on shares of Callon Petroleum in a research report on Wednesday, September 6th. Finally, Bank of America assumed coverage on shares of Callon Petroleum in a research report on Monday, October 16th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $16.65.

Callon Petroleum (NYSE:CPE) traded up $0.21 during mid-day trading on Wednesday, hitting $12.82. 5,592,600 shares of the stock traded hands, compared to its average volume of 4,812,112. Callon Petroleum has a 1 year low of $9.34 and a 1 year high of $15.81. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $2,590.00, a P/E ratio of 29.81 and a beta of 1.32.

Callon Petroleum (NYSE:CPE) last released its earnings results on Monday, November 6th. The oil and natural gas company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). Callon Petroleum had a return on equity of 4.05% and a net margin of 30.20%. The company had revenue of $84.60 million during the quarter, compared to analysts’ expectations of $81.98 million. During the same period last year, the firm posted $0.09 EPS. Callon Petroleum’s quarterly revenue was up 51.3% compared to the same quarter last year. equities analysts expect that Callon Petroleum will post 0.4 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Zions Bancorporation bought a new position in shares of Callon Petroleum in the third quarter worth about $105,000. Fondren Management LP purchased a new stake in Callon Petroleum in the second quarter worth about $106,000. BB&T Securities LLC purchased a new stake in Callon Petroleum in the third quarter worth about $112,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Callon Petroleum in the second quarter worth about $133,000. Finally, Intrust Bank NA purchased a new stake in Callon Petroleum in the third quarter worth about $139,000.

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Callon Petroleum Company Profile

Callon Petroleum Company is an independent oil and natural gas company. The Company is engaged in the exploration, development, acquisition and production of oil and natural gas properties. The Company focuses on the acquisition and development of unconventional oil and natural gas reserves in the Permian Basin.

Analyst Recommendations for Callon Petroleum (NYSE:CPE)

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