Trade Report: Today: Deutsche Bank AG Begins Coverage on Callon Petroleum Co. (CPE)

Today: Deutsche Bank AG Begins Coverage on Callon Petroleum Co. (CPE)

Equities researchers at Deutsche Bank AG assumed coverage on shares of Callon Petroleum Co. (NYSE:CPE) in a research 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 current price.

A number of other brokerages have also recently issued reports on CPE. Roth Capital set a $16.00 target price on Callon Petroleum and gave the stock a “buy” rating in a report on Wednesday, September 7th. Citigroup Inc. increased their target price on Callon Petroleum from $12.50 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, August 11th. RBC Capital Markets upgraded Callon Petroleum from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $15.00 to $18.00 in a report on Thursday, September 8th. They noted that the move was a valuation call. Imperial Capital reiterated an “outperform” rating and issued a $16.00 target price (up from $14.00) on shares of Callon Petroleum in a report on Wednesday, August 10th. Finally, Canaccord Genuity increased their target price on Callon Petroleum from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, September 8th. Four investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $15.95.

Shares of Callon Petroleum (NYSE:CPE) traded down 7.43% during trading on Monday, reaching $15.08. 6,856,003 shares of the company were exchanged. The company’s market capitalization is $2.43 billion. The firm’s 50 day moving average price is $14.57 and its 200 day moving average price is $13.16. Callon Petroleum has a one year low of $4.21 and a one year high of $17.05.

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

Hedge funds have recently modified their holdings of the stock. E&G Advisors LP acquired a new stake in shares of Callon Petroleum during the second quarter worth about $538,000. Miller Howard Investments Inc. NY acquired a new stake in shares of Callon Petroleum during the second quarter worth about $4,153,000. Parkwood LLC acquired a new stake in shares of Callon Petroleum during the second quarter worth about $1,191,000. IBM Retirement Fund acquired a new stake in shares of Callon Petroleum during the second quarter worth about $129,000. Finally, Eagle Asset Management Inc. increased its stake in shares of Callon Petroleum by 47.4% in the second quarter. Eagle Asset Management Inc. now owns 1,067,035 shares of the company’s stock worth $11,982,000 after buying an additional 343,085 shares during the period.

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