Trade Report: Today, Callon Petroleum Co. (CPE) Earns Buy Rating from Analysts at Deutsche Bank AG

Today, Callon Petroleum Co. (CPE) Earns Buy Rating from Analysts at Deutsche Bank AG

Analysts at Deutsche Bank AG began coverage on shares of Callon Petroleum Co. (NYSE:CPE) in a note issued to investors on Monday. The firm set a “buy” rating and a $15.84 price target on the stock. Deutsche Bank AG’s price objective indicates a potential downside of 0.63% from the company’s previous close.

A number of other analysts also recently weighed in on CPE. FBR & Co lifted their price target on Callon Petroleum from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, August 10th. Imperial Capital reiterated an “outperform” rating and set a $16.00 target price (up from $14.00) on shares of Callon Petroleum in a research report on Wednesday, August 10th. Wunderlich boosted their target price on Callon Petroleum from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Citigroup Inc. boosted their target price on Callon Petroleum from $12.50 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, August 11th. Finally, JPMorgan Chase & Co. boosted their target price on Callon Petroleum from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Thursday, August 11th. Four analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $16.08.

Shares of Callon Petroleum (NYSE:CPE) traded down 7.73% during midday trading on Monday, reaching $15.03. 6,201,277 shares of the company traded hands. The firm’s market capitalization is $2.42 billion. Callon Petroleum has a 1-year low of $4.21 and a 1-year high of $17.05. The stock has a 50 day moving average price of $14.57 and a 200 day moving average price of $13.16.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.02. Callon Petroleum had a positive return on equity of 4.44% and a negative net margin of 122.93%. The firm had revenue of $55.90 million for the quarter, compared to the consensus estimate of $45.48 million. During the same period in the previous year, the business earned $0.05 earnings per share. The company’s revenue for the quarter was up 63.0% compared to the same quarter last year. Analysts expect that Callon Petroleum will post $0.28 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the stock. US Bancorp DE raised its stake in Callon Petroleum by 40.4% in the second quarter. US Bancorp DE now owns 9,489 shares of the company’s stock worth $107,000 after buying an additional 2,730 shares during the period. Hsbc Holdings PLC bought a new stake in Callon Petroleum during the second quarter worth about $115,000. Capital Fund Management S.A. bought a new stake in Callon Petroleum during the second quarter worth about $116,000. Genesee Valley Trust Co. acquired a new position in shares of Callon Petroleum during the second quarter worth approximately $119,000. Finally, Meeder Asset Management Inc. increased its position in shares of Callon Petroleum by 593.3% in the third quarter. Meeder Asset Management Inc. now owns 7,592 shares of the company’s stock worth $119,000 after buying an additional 6,497 shares in the last quarter.

Callon Petroleum Company Profile

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