Callon Petroleum Company (CPE) Trading Down 4.8%

Callon Petroleum Company (NYSE:CPE) shares dropped 4.8% during mid-day trading on Tuesday . The company traded as low as $10.27 and last traded at $11.16. Approximately 4,179,200 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 4,989,929 shares. The stock had previously closed at $11.72.

CPE has been the subject of a number of research analyst reports. BMO Capital Markets reiterated a “buy” rating and issued a $15.00 target price on shares of Callon Petroleum in a research note on Wednesday, September 6th. Citigroup Inc. cut their target price on shares of Callon Petroleum from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Royal Bank Of Canada set a $16.00 target price on shares of Callon Petroleum and gave the company a “buy” rating in a research note on Thursday, August 24th. Northland Securities set a $18.00 target price on shares of Callon Petroleum and gave the company a “buy” rating in a research note on Monday, August 21st. Finally, Bank of America Corporation initiated coverage on shares of Callon Petroleum in a research note on Monday, October 16th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $17.50.

The company has a market capitalization of $2,080.93, a price-to-earnings ratio of 28.64 and a beta of 1.38. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.32.

Callon Petroleum (NYSE:CPE) last announced its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). Callon Petroleum had a net margin of 30.20% and a return on equity of 4.05%. The firm had revenue of $84.60 million during the quarter, compared to analyst estimates of $81.98 million. During the same period last year, the firm earned $0.09 EPS. Callon Petroleum’s quarterly revenue was up 51.3% on a year-over-year basis. equities research analysts anticipate that Callon Petroleum Company will post 0.41 EPS for the current year.

Several hedge funds have recently made changes to their positions in the company. FMR LLC grew its holdings in shares of Callon Petroleum by 6.2% in the 2nd quarter. FMR LLC now owns 16,132,114 shares of the oil and natural gas company’s stock valued at $171,162,000 after buying an additional 934,847 shares during the period. BlackRock Inc. grew its holdings in shares of Callon Petroleum by 7.0% in the 2nd quarter. BlackRock Inc. now owns 12,953,769 shares of the oil and natural gas company’s stock valued at $137,439,000 after buying an additional 851,876 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Callon Petroleum by 47.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 10,625,848 shares of the oil and natural gas company’s stock valued at $119,434,000 after buying an additional 3,440,342 shares during the period. State Street Corp grew its holdings in shares of Callon Petroleum by 11.4% in the 2nd quarter. State Street Corp now owns 7,845,502 shares of the oil and natural gas company’s stock valued at $83,244,000 after buying an additional 802,785 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Callon Petroleum by 1.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 7,426,037 shares of the oil and natural gas company’s stock valued at $78,790,000 after buying an additional 92,434 shares during the period.

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About Callon Petroleum

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.

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