Callon Petroleum (NYSE:CPE – Get Rating) had its price objective cut by equities researchers at Truist Financial from $107.00 to $101.00 in a research report issued on Tuesday, The Fly reports. Truist Financial’s target price would indicate a potential upside of 71.62% from the stock’s previous close.
Several other equities research analysts also recently commented on the company. StockNews.com began coverage on Callon Petroleum in a report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research upgraded Callon Petroleum from a “hold” rating to a “strong-buy” rating and set a $67.00 price target for the company in a report on Tuesday, May 31st. Roth Capital upgraded Callon Petroleum from a “neutral” rating to a “buy” rating and set a $80.00 price target for the company in a report on Monday, April 18th. Finally, Morgan Stanley upped their price target on Callon Petroleum from $63.00 to $79.00 and gave the stock an “equal weight” rating in a report on Friday, April 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $72.89.
NYSE CPE opened at $58.85 on Tuesday. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 6.67 and a beta of 2.71. Callon Petroleum has a 52 week low of $25.32 and a 52 week high of $66.48. The business has a 50 day moving average price of $55.26 and a 200-day moving average price of $53.90. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.37.
Callon Petroleum (NYSE:CPE – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The oil and natural gas company reported $3.43 EPS for the quarter, beating the consensus estimate of $3.28 by $0.15. The firm had revenue of $664.80 million during the quarter, compared to the consensus estimate of $587.95 million. Callon Petroleum had a return on equity of 42.41% and a net margin of 19.71%. The company’s quarterly revenue was up 107.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.49 earnings per share. On average, equities research analysts anticipate that Callon Petroleum will post 16.03 earnings per share for the current year.
In other news, major shareholder Primexx Energy Partners, Ltd sold 9,629 shares of the company’s stock in a transaction on Friday, March 11th. The stock was sold at an average price of $60.21, for a total transaction of $579,762.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Holdings L.P. Blackstone III sold 13,353 shares of the company’s stock in a transaction on Thursday, April 7th. The shares were sold at an average price of $61.54, for a total value of $821,743.62. The disclosure for this sale can be found here. In the last three months, insiders sold 699,814 shares of company stock worth $43,316,675. Insiders own 1.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Sawtooth Solutions LLC bought a new stake in shares of Callon Petroleum during the 1st quarter valued at $254,000. Range Financial Group LLC bought a new stake in shares of Callon Petroleum during the 1st quarter valued at $323,000. Gamco Investors INC. ET AL bought a new stake in shares of Callon Petroleum during the 1st quarter valued at $315,000. Virtu Financial LLC raised its stake in shares of Callon Petroleum by 148.1% during the 1st quarter. Virtu Financial LLC now owns 16,091 shares of the oil and natural gas company’s stock valued at $951,000 after purchasing an additional 9,606 shares during the period. Finally, Point72 Hong Kong Ltd raised its stake in shares of Callon Petroleum by 14.5% during the 1st quarter. Point72 Hong Kong Ltd now owns 2,299 shares of the oil and natural gas company’s stock valued at $136,000 after purchasing an additional 291 shares during the period. 95.73% of the stock is currently owned by hedge funds and other institutional investors.
Callon Petroleum Company Profile (Get Rating)
Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, exploration, and development of oil and natural gas properties in Permian Basin in West Texas. As of December 31, 2021, its estimated net proved reserves totaled approximately 484.6 million barrel of oil equivalent, including 290.3 MMBbls oil, 577.3 Bcf of natural gas, and 98.1 MMBbls of natural gas liquids.
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