Callon Petroleum (CPE) Shares Gap Down to $6.44

Callon Petroleum (NYSE:CPE)’s share price gapped down prior to trading on Friday . The stock had previously closed at $6.63, but opened at $6.44. Callon Petroleum shares last traded at $6.25, with a volume of 5482665 shares traded.

A number of equities analysts recently issued reports on the company. SunTrust Banks set a $12.00 target price on Callon Petroleum and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Zacks Investment Research lowered Callon Petroleum from a “hold” rating to a “strong sell” rating in a research note on Friday, February 15th. Williams Capital restated a “buy” rating and issued a $12.00 target price on shares of Callon Petroleum in a research note on Monday, February 11th. Morgan Stanley assumed coverage on Callon Petroleum in a research note on Thursday, March 21st. They issued an “equal weight” rating and a $9.00 target price for the company. Finally, Capital One Financial lowered Callon Petroleum from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. Callon Petroleum currently has an average rating of “Buy” and an average target price of $13.63.

The company has a market capitalization of $1.44 billion, a PE ratio of 7.62, a price-to-earnings-growth ratio of 0.66 and a beta of 1.50. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.53 and a quick ratio of 0.53.

Callon Petroleum (NYSE:CPE) last announced its quarterly earnings results on Tuesday, February 26th. The oil and natural gas company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.05). The company had revenue of $161.90 million for the quarter, compared to analyst estimates of $164.50 million. Callon Petroleum had a return on equity of 7.55% and a net margin of 36.70%. On average, analysts forecast that Callon Petroleum will post 0.92 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its holdings in Callon Petroleum by 968.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 11,695 shares of the oil and natural gas company’s stock valued at $76,000 after purchasing an additional 10,600 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Callon Petroleum by 15.2% during the fourth quarter. New York State Teachers Retirement System now owns 152,615 shares of the oil and natural gas company’s stock worth $990,000 after buying an additional 20,115 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Callon Petroleum by 1.1% during the fourth quarter. Arizona State Retirement System now owns 163,344 shares of the oil and natural gas company’s stock worth $1,060,000 after buying an additional 1,759 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new stake in shares of Callon Petroleum during the fourth quarter worth $97,000. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Callon Petroleum by 3.5% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,956,992 shares of the oil and natural gas company’s stock worth $12,701,000 after buying an additional 65,510 shares in the last quarter.

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Callon Petroleum Company Profile (NYSE:CPE)

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 and southeastern New Mexico. As of December 31, 2018, its estimated net proved reserves totaled 238.5 million barrel of oil equivalent, including 180.1 MMBbls of oil and 350.5 Bcf of natural gas.

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