Callon Petroleum (NYSE:CPE) – Jefferies Financial Group decreased their Q2 2019 earnings estimates for shares of Callon Petroleum in a research report issued to clients and investors on Wednesday, March 13th. Jefferies Financial Group analyst M. Lear now expects that the oil and natural gas company will earn $0.21 per share for the quarter, down from their prior forecast of $0.26. Jefferies Financial Group also issued estimates for Callon Petroleum’s FY2020 earnings at $1.04 EPS.
Other research analysts have also recently issued reports about the company. Williams Capital reissued a “buy” rating and issued a $12.00 target price on shares of Callon Petroleum in a research note on Wednesday, February 27th. Zacks Investment Research cut Callon Petroleum from a “hold” rating to a “strong sell” rating in a research note on Friday, February 15th. Imperial Capital reissued an “outperform” rating and issued a $15.00 target price (up from $12.00) on shares of Callon Petroleum in a research note on Wednesday, February 13th. Citigroup raised Callon Petroleum from a “neutral” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Wednesday, January 23rd. Finally, Barclays cut Callon Petroleum from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $14.00 to $10.00 in a research note on Wednesday, January 16th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seventeen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $14.63.
Shares of Callon Petroleum stock opened at $7.36 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.49. Callon Petroleum has a 12 month low of $5.57 and a 12 month high of $14.65. The firm has a market cap of $1.65 billion, a P/E ratio of 8.98, a P/E/G ratio of 0.77 and a beta of 1.54.
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Callon Petroleum by 3.1% in the third quarter. Vanguard Group Inc. now owns 20,395,498 shares of the oil and natural gas company’s stock valued at $244,542,000 after purchasing an additional 615,053 shares in the last quarter. Man Group plc bought a new stake in shares of Callon Petroleum in the third quarter valued at about $612,000. Tributary Capital Management LLC lifted its holdings in shares of Callon Petroleum by 22.2% in the fourth quarter. Tributary Capital Management LLC now owns 1,815,665 shares of the oil and natural gas company’s stock valued at $11,784,000 after purchasing an additional 330,401 shares in the last quarter. Ninepoint Partners LP bought a new stake in shares of Callon Petroleum in the fourth quarter valued at about $5,192,000. Finally, AMI Asset Management Corp lifted its holdings in shares of Callon Petroleum by 0.5% in the fourth quarter. AMI Asset Management Corp now owns 460,701 shares of the oil and natural gas company’s stock valued at $2,990,000 after purchasing an additional 2,467 shares in the last quarter.
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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