Callon Petroleum Company (CPE) Coverage Initiated at Jefferies Group LLC

Stock analysts at Jefferies Group LLC initiated coverage on shares of Callon Petroleum Company (NYSE:CPE) in a research report issued to clients and investors on Monday. The brokerage set a “buy” rating and a $16.00 price target on the oil and natural gas company’s stock. Jefferies Group LLC’s price target would indicate a potential upside of 41.72% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. BMO Capital Markets restated a “buy” rating and set a $15.00 price target on shares of Callon Petroleum in a report on Wednesday, September 6th. Royal Bank Of Canada set a $16.00 price target on shares of Callon Petroleum and gave the company a “buy” rating in a report on Thursday, August 24th. Northland Securities set a $18.00 price target on shares of Callon Petroleum and gave the company a “buy” rating in a report on Monday, August 21st. Imperial Capital assumed coverage on shares of Callon Petroleum in a report on Tuesday, August 15th. They set an “outperform” rating and a $16.00 price target for the company. Finally, BidaskClub cut shares of Callon Petroleum from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $17.50.

Callon Petroleum (NYSE:CPE) opened at 11.29 on Monday. The firm has a market cap of $2.28 billion, a PE ratio of 21.50 and a beta of 1.43. The company has a 50-day moving average price of $10.72 and a 200-day moving average price of $11.24. Callon Petroleum has a one year low of $9.34 and a one year high of $18.53.

Callon Petroleum (NYSE:CPE) last posted its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.02). Callon Petroleum had a return on equity of 4.16% and a net margin of 34.61%. The business had revenue of $82.30 million for the quarter, compared to analyst estimates of $83.89 million. During the same period in the previous year, the company earned ($0.61) earnings per share. The company’s quarterly revenue was up 82.5% compared to the same quarter last year. Equities analysts predict that Callon Petroleum will post $0.48 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in CPE. Strs Ohio lifted its stake in shares of Callon Petroleum by 6.5% in the first quarter. Strs Ohio now owns 9,800 shares of the oil and natural gas company’s stock valued at $128,000 after buying an additional 600 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of Callon Petroleum by 25.3% in the first quarter. Great West Life Assurance Co. Can now owns 20,800 shares of the oil and natural gas company’s stock valued at $273,000 after buying an additional 4,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Callon Petroleum by 86.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,389 shares of the oil and natural gas company’s stock valued at $110,000 after buying an additional 3,896 shares during the period. Karp Capital Management Corp bought a new stake in shares of Callon Petroleum in the first quarter valued at about $381,000. Finally, Sei Investments Co. lifted its stake in shares of Callon Petroleum by 25.6% in the first quarter. Sei Investments Co. now owns 31,533 shares of the oil and natural gas company’s stock valued at $415,000 after buying an additional 6,428 shares during the period.

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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