Zacks Investment Research Upgrades Callon Petroleum (CPE) to “Hold”

Callon Petroleum (NYSE:CPE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.

According to Zacks, “Callon Petroleum Company has been engaged in the exploration, development, acquisition and production of oil and gas properties since 1950. “

A number of other equities research analysts have also recently weighed in on the stock. SunTrust Banks reissued a “buy” rating and issued a $16.00 price target on shares of Callon Petroleum in a research report on Tuesday, February 6th. B. Riley assumed coverage on shares of Callon Petroleum in a research report on Monday, February 5th. They issued a “neutral” rating and a $11.75 price target for the company. Deutsche Bank assumed coverage on shares of Callon Petroleum in a research report on Thursday, February 1st. They issued a “buy” rating and a $15.00 price target for the company. Jefferies Group reissued a “buy” rating and issued a $17.00 price target on shares of Callon Petroleum in a research report on Tuesday, January 30th. Finally, Mizuho set a $15.00 price target on shares of Callon Petroleum and gave the company a “buy” rating in a research report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $16.39.

Shares of Callon Petroleum (NYSE CPE) traded up $0.45 on Monday, reaching $10.71. 4,315,679 shares of the company were exchanged, compared to its average volume of 5,050,739. Callon Petroleum has a 52-week low of $9.34 and a 52-week high of $15.02. The stock has a market capitalization of $2,070.84, a PE ratio of 24.34 and a beta of 1.16. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.32.

Several large investors have recently made changes to their positions in CPE. Vaughan Nelson Investment Management L.P. increased its stake in shares of Callon Petroleum by 61.0% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 4,631,425 shares of the oil and natural gas company’s stock worth $52,057,000 after acquiring an additional 1,755,125 shares during the period. Voya Investment Management LLC increased its stake in shares of Callon Petroleum by 22.8% during the second quarter. Voya Investment Management LLC now owns 93,670 shares of the oil and natural gas company’s stock worth $994,000 after acquiring an additional 17,410 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Callon Petroleum by 8.9% during the second quarter. PNC Financial Services Group Inc. now owns 18,990 shares of the oil and natural gas company’s stock worth $202,000 after acquiring an additional 1,555 shares during the period. Ninepoint Partners LP acquired a new position in shares of Callon Petroleum during the third quarter worth about $7,778,000. Finally, Wedge Capital Management L L P NC increased its stake in shares of Callon Petroleum by 10.3% during the third quarter. Wedge Capital Management L L P NC now owns 2,054,857 shares of the oil and natural gas company’s stock worth $23,097,000 after acquiring an additional 191,574 shares during the period.

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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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