Northland Securities Reiterates “$7.00” Price Target for Callon Petroleum (NYSE:CPE)

Northland Securities set a $7.00 target price on Callon Petroleum (NYSE:CPE) in a report issued on Monday morning, TipRanks reports. The brokerage currently has a buy rating on the oil and natural gas company’s stock.

Other analysts also recently issued research reports about the stock. Citigroup dropped their price target on shares of Callon Petroleum from $10.00 to $8.50 and set a buy rating on the stock in a report on Monday, September 23rd. Morgan Stanley dropped 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 report on Friday, October 4th. Imperial Capital dropped their price target on shares of Callon Petroleum from $16.00 to $11.00 and set an in-line rating on the stock in a report on Tuesday, July 16th. Jefferies Financial Group downgraded shares of Callon Petroleum from a buy rating to a hold rating and set a $11.00 price target on the stock. in a report on Monday, July 15th. Finally, Barclays lowered their price objective 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $10.35.

Shares of NYSE CPE opened at $4.11 on Monday. The firm’s 50-day moving average price is $4.22 and its 200-day moving average price is $5.76. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.44. The company has a market cap of $847.31 million, a PE ratio of 5.01, a PEG ratio of 0.47 and a beta of 1.42. Callon Petroleum has a 52-week low of $3.68 and a 52-week high of $11.47.

Callon Petroleum (NYSE:CPE) last announced its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. The firm had revenue of $167.05 million for the quarter, compared to the consensus estimate of $163.05 million. Callon Petroleum had a net margin of 35.72% and a return on equity of 7.57%. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 EPS. As a group, equities research analysts anticipate that Callon Petroleum will post 0.72 EPS for the current fiscal year.

Several large investors have recently modified their holdings of CPE. Neuburgh Advisers LLC raised its stake in Callon Petroleum by 6.4% during the 2nd quarter. Neuburgh Advisers LLC now owns 36,916 shares of the oil and natural gas company’s stock worth $243,000 after acquiring an additional 2,222 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Callon Petroleum by 0.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 540,255 shares of the oil and natural gas company’s stock worth $3,560,000 after acquiring an additional 2,323 shares during the period. Nikko Asset Management Americas Inc. raised its stake in Callon Petroleum by 0.4% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 540,255 shares of the oil and natural gas company’s stock worth $3,560,000 after acquiring an additional 2,323 shares during the period. Riverhead Capital Management LLC raised its stake in Callon Petroleum by 6.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 42,000 shares of the oil and natural gas company’s stock worth $277,000 after acquiring an additional 2,600 shares during the period. Finally, Tyers Asset Management LLC raised its position in shares of Callon Petroleum by 6.4% during the second quarter. Tyers Asset Management LLC now owns 46,984 shares of the oil and natural gas company’s stock valued at $310,000 after buying an additional 2,828 shares during the last quarter.

Callon Petroleum Company Profile

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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