Weekly Investment Analysts’ Ratings Changes for Callon Petroleum (CPE)

A number of research firms have changed their ratings and price targets for Callon Petroleum (NYSE: CPE):

  • 11/19/2021 – Callon Petroleum had its price target raised by analysts at Morgan Stanley from $55.00 to $78.00. They now have an “equal weight” rating on the stock.
  • 11/19/2021 – Callon Petroleum was upgraded by analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating. They now have a $75.00 price target on the stock, up previously from $50.00.
  • 11/11/2021 – Callon Petroleum had its price target raised by analysts at MKM Partners from $69.00 to $77.00. They now have a “buy” rating on the stock.
  • 11/9/2021 – Callon Petroleum had its price target raised by analysts at Royal Bank of Canada from $66.00 to $70.00. They now have a “sector perform” rating on the stock.
  • 11/3/2021 – Callon Petroleum was upgraded by analysts at TheStreet from a “d” rating to a “c-” rating.
  • 10/18/2021 – Callon Petroleum is now covered by analysts at Royal Bank of Canada. They set a “sector perform” rating on the stock.
  • 10/7/2021 – Callon Petroleum had its price target raised by analysts at Truist Securities from $37.00 to $55.00. They now have a “hold” rating on the stock.
  • 10/7/2021 – Callon Petroleum had its price target raised by analysts at Truist from $37.00 to $55.00. They now have a “hold” rating on the stock.
  • 10/6/2021 – Callon Petroleum had its price target raised by analysts at Morgan Stanley from $38.00 to $55.00. They now have an “equal weight” rating on the stock.

Shares of CPE traded up $3.48 during trading hours on Thursday, hitting $61.66. The company had a trading volume of 1,860,960 shares, compared to its average volume of 2,223,204. The firm has a fifty day moving average price of $53.11 and a 200-day moving average price of $45.39. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.32 and a current ratio of 0.32. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of -5.51 and a beta of 3.06. Callon Petroleum has a 52-week low of $9.35 and a 52-week high of $65.45.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results on Wednesday, November 3rd. The oil and natural gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.44. The firm had revenue of $552.56 million during the quarter, compared to analyst estimates of $418.44 million. Callon Petroleum had a positive return on equity of 40.51% and a negative net margin of 25.79%. During the same quarter in the previous year, the firm earned $0.64 EPS. Research analysts anticipate that Callon Petroleum will post 8.92 earnings per share for the current fiscal year.

In other news, Director S P. Iv Johnson sold 1,200 shares of Callon Petroleum stock in a transaction dated Thursday, November 18th. The stock was sold at an average price of $59.21, for a total value of $71,052.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 3,600 shares of company stock valued at $177,696. 2.10% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Callon Petroleum by 28.8% in the 2nd quarter. BlackRock Inc. now owns 6,867,533 shares of the oil and natural gas company’s stock worth $396,189,000 after buying an additional 1,535,793 shares in the last quarter. Kimmeridge Energy Management Company LLC increased its holdings in Callon Petroleum by 10.8% in the 3rd quarter. Kimmeridge Energy Management Company LLC now owns 6,188,157 shares of the oil and natural gas company’s stock worth $303,715,000 after buying an additional 602,503 shares in the last quarter. State Street Corp increased its holdings in Callon Petroleum by 4.4% in the 2nd quarter. State Street Corp now owns 3,615,861 shares of the oil and natural gas company’s stock worth $208,599,000 after buying an additional 153,314 shares in the last quarter. Vanguard Group Inc. increased its holdings in Callon Petroleum by 19.5% in the 2nd quarter. Vanguard Group Inc. now owns 3,432,057 shares of the oil and natural gas company’s stock worth $197,995,000 after buying an additional 558,934 shares in the last quarter. Finally, JB Investments Management LLC increased its holdings in Callon Petroleum by 2.5% in the 3rd quarter. JB Investments Management LLC now owns 3,132,686 shares of the oil and natural gas company’s stock worth $153,752,000 after buying an additional 77,475 shares in the last quarter. Institutional investors own 81.11% of the company’s stock.

Callon Petroleum Co engages in the exploration, development, acquisition and production of oil and natural gas properties in the United States. It focuses on unconventional oil and natural gas reserves in the Permian Basin. The company was founded by Sim C. Callon and John S. Callon in 1950 and is headquartered in Houston, TX.

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