Callon Petroleum (CPE) Shares Down 5%

Shares of Callon Petroleum (NYSE:CPE) traded down 5% during mid-day trading on Thursday . The stock traded as low as $12.47 and last traded at $12.48. 6,420,719 shares traded hands during mid-day trading, an increase of 45% from the average session volume of 4,431,217 shares. The stock had previously closed at $13.14.

Several analysts have recently issued reports on the company. ValuEngine upgraded Callon Petroleum from a “hold” rating to a “buy” rating in a research note on Wednesday, May 9th. KeyCorp increased their price objective on Callon Petroleum from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, April 23rd. SunTrust Banks set a $18.00 price objective on Callon Petroleum and gave the company a “buy” rating in a research note on Monday, April 16th. Stifel Nicolaus set a $20.00 price objective on Callon Petroleum and gave the company a “buy” rating in a research note on Wednesday, March 28th. Finally, TheStreet upgraded Callon Petroleum from a “c+” rating to a “b-” rating in a research note on Wednesday, April 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $16.42.

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The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.35. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 29.71, a price-to-earnings-growth ratio of 0.33 and a beta of 1.20.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results on Tuesday, February 27th. The oil and natural gas company reported $0.15 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.15. Callon Petroleum had a return on equity of 5.98% and a net margin of 31.28%. The company had revenue of $118.21 million for the quarter, compared to analysts’ expectations of $109.95 million. research analysts forecast that Callon Petroleum will post 0.91 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its stake in Callon Petroleum by 8.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 482,244 shares of the oil and natural gas company’s stock valued at $5,859,000 after buying an additional 39,549 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in shares of Callon Petroleum by 34.8% during the fourth quarter. Glenmede Trust Co. NA now owns 3,594,100 shares of the oil and natural gas company’s stock worth $43,667,000 after purchasing an additional 927,463 shares during the last quarter. MetLife Investment Advisors LLC purchased a new position in shares of Callon Petroleum during the fourth quarter worth about $2,721,000. Thrivent Financial For Lutherans grew its holdings in shares of Callon Petroleum by 34.9% during the fourth quarter. Thrivent Financial For Lutherans now owns 1,446,211 shares of the oil and natural gas company’s stock worth $17,572,000 after purchasing an additional 374,442 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Callon Petroleum during the fourth quarter worth about $10,291,000.

About Callon Petroleum

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. As of December 31, 2017, its estimated net proved reserves totaled 137.0 million barrel of oil equivalent.

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