Today: Callon Petroleum Co. (CPE) Now Covered by Deutsche Bank AG

Today: Callon Petroleum Co. (CPE) Now Covered by Deutsche Bank AG

Equities research analysts at Deutsche Bank AG started coverage on shares of Callon Petroleum Co. (NYSE:CPE) in a report released on Monday. The firm set a “buy” rating and a $19.00 price target on the stock. Deutsche Bank AG’s price target points to a potential upside of 16.64% from the stock’s current price.

Several other equities research analysts also recently commented on CPE. Evercore ISI started coverage on Callon Petroleum in a report on Wednesday, September 28th. They set a “buy” rating and a $20.00 price objective for the company. Zacks Investment Research upgraded Callon Petroleum from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Tuesday, October 4th. RBC Capital Markets upgraded Callon Petroleum from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $15.00 to $18.00 in a report on Thursday, September 8th. They noted that the move was a valuation call. Mizuho started coverage on Callon Petroleum in a report on Wednesday, October 5th. They set a “neutral” rating and a $16.00 price objective for the company. Finally, KLR Group restated a “buy” rating and set a $21.00 price objective (up previously from $18.00) on shares of Callon Petroleum in a report on Tuesday, September 13th. Four analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Callon Petroleum has a consensus rating of “Buy” and a consensus target price of $16.08.

Shares of Callon Petroleum (NYSE:CPE) opened at 16.29 on Monday. Callon Petroleum has a 1-year low of $4.21 and a 1-year high of $16.42. The company has a 50-day moving average price of $14.57 and a 200-day moving average price of $13.16. The company’s market cap is $2.62 billion.

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

Several hedge funds have recently added to or reduced their stakes in CPE. Silvercrest Asset Management Group LLC acquired a new position in shares of Callon Petroleum during the second quarter worth $32,029,000. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Callon Petroleum during the third quarter worth $31,528,000. Copper Rock Capital Partners LLC acquired a new position in shares of Callon Petroleum during the third quarter worth $27,330,000. State Street Corp raised its position in shares of Callon Petroleum by 53.3% in the second quarter. State Street Corp now owns 4,492,291 shares of the company’s stock worth $50,443,000 after buying an additional 1,561,776 shares in the last quarter. Finally, Teachers Advisors Inc. raised its position in shares of Callon Petroleum by 100.9% in the second quarter. Teachers Advisors Inc. now owns 3,093,435 shares of the company’s stock worth $34,739,000 after buying an additional 1,553,655 shares in the last quarter.

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