Callon Petroleum (CPE) Lowered to “Sell” at ValuEngine

ValuEngine lowered shares of Callon Petroleum (NYSE:CPE) from a hold rating to a sell rating in a research report sent to investors on Wednesday.

Several other equities analysts have also recently weighed in on CPE. Credit Suisse Group assumed coverage on shares of Callon Petroleum in a research note on Monday, December 11th. They set a neutral rating and a $12.00 price target for the company. Northland Securities set a $16.00 price target on shares of Callon Petroleum and gave the stock a buy rating in a research note on Monday, December 11th. Scotiabank set a $16.00 price target on shares of Callon Petroleum and gave the stock a buy rating in a research note on Saturday, November 25th. Piper Jaffray Companies assumed coverage on shares of Callon Petroleum in a research note on Thursday, January 4th. They set an overweight rating and a $15.00 price target for the company. Finally, Citigroup cut shares of Callon Petroleum from a buy rating to a neutral rating and set a $13.00 price target for the company. in a research note on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $16.35.

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Shares of Callon Petroleum (NYSE:CPE) opened at $11.73 on Wednesday. Callon Petroleum has a 52 week low of $9.34 and a 52 week high of $13.92. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $2,368.74, a P/E ratio of 27.28 and a beta of 1.19.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zions Bancorporation acquired a new stake in shares of Callon Petroleum in the 3rd quarter valued at approximately $105,000. BB&T Securities LLC acquired a new stake in Callon Petroleum during the 3rd quarter valued at $112,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Callon Petroleum during the 2nd quarter valued at $133,000. Intrust Bank NA acquired a new stake in Callon Petroleum during the 3rd quarter valued at $139,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in Callon Petroleum during the 3rd quarter valued at $141,000.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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