Rating Action: Callon Petroleum (CPE) Moves On Deutsche Bank Initiation. How Much Its Worth?

November 28, 2016 - By Peter Kolinski

Rating Action: Callon Petroleum (CPE) Moves On Deutsche Bank Initiation. How Much Its Worth?

Why Deutsche Bank Gives Callon Petroleum (CPE) $15.84 Price Target

Deutsche Bank analyst has begun coverage with a Buy rating on Callon Petroleum (CPE) today and set a price target of $15.84. The company’s shares opened today at 15.24.

Callon Petroleum Company (NYSE:CPE) Ratings Coverage

Out of 5 analysts covering Callon Petroleum (CPE), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. $19.0 is the highest target while $16.0 is the lowest. The $17.80 average target is 16.80% above today’s ($15.24) stock price. Callon Petroleum has been the topic of 5 analyst reports since September 8, 2016 according to StockzIntelligence Inc. The firm has “Neutral” rating given on Thursday, October 6 by Mizuho. The rating was maintained by Imperial Capital with “Outperform” on Friday, September 30. FBR Capital maintained Callon Petroleum Company (NYSE:CPE) on Friday, September 9 with “Outperform” rating. The stock of Callon Petroleum Company (NYSE:CPE) earned “Outperform” rating by RBC Capital Markets on Thursday, September 8. Canaccord Genuity maintained Callon Petroleum Company (NYSE:CPE) on Thursday, September 8 with “Buy” rating.

About 5.30 million shares traded hands or 26.79% up from the average. Callon Petroleum Company (CPE) has risen 58.00% since April 25, 2016 and is uptrending. It has outperformed by 51.99% the S&P500.

Analysts await Callon Petroleum Company (NYSE:CPE) to report earnings on March, 1. They expect $0.10 earnings per share, up 100.00% or $0.05 from last year’s $0.05 per share. CPE’s profit will be $16.14M for 38.10 P/E if the $0.10 EPS becomes a reality. After $0.09 actual earnings per share reported by Callon Petroleum Company for the previous quarter, Wall Street now forecasts 11.11% EPS growth.

Insitutional Activity: The institutional sentiment decreased to 1.55 in 2016 Q2. Its down 0.83, from 2.38 in 2016Q1. The ratio dived, as 19 funds sold all Callon Petroleum Company shares owned while 41 reduced positions. 60 funds bought stakes while 83 increased positions. They now own 125.08 million shares or 27.96% more from 97.75 million shares in 2016Q1.

Blackrock Institutional Na holds 0.01% of its portfolio in Callon Petroleum Company (NYSE:CPE) for 3.30 million shares. Marshall Wace Limited Liability Partnership has invested 0.14% of its portfolio in Callon Petroleum Company (NYSE:CPE). Nationwide Fund Advsrs accumulated 0.01% or 162,284 shares. Discovery Capital Management Limited Liability Ct, a Connecticut-based fund reported 5.33M shares. Clarivest Asset Management Limited Liability Com has invested 0% of its portfolio in Callon Petroleum Company (NYSE:CPE). Jpmorgan Chase & Communications has 0% invested in the company for 285,279 shares. Cubist Systematic Strategies Ltd, a Connecticut-based fund reported 29,441 shares. Ranger Investment Management Lp owns 1.29M shares or 0.89% of their US portfolio. Swiss State Bank last reported 192,900 shares in the company. Principal Fin Group Incorporated has 0.01% invested in the company for 724,108 shares. Deprince Race Zollo has 39,664 shares for 0.01% of their US portfolio. The Washington-based Rainier Invest Management Limited Liability Corporation has invested 0.89% in Callon Petroleum Company (NYSE:CPE). Geode Cap Management Ltd Liability Corporation owns 863,109 shares or 0.01% of their US portfolio. First Republic Mngmt Inc last reported 0% of its portfolio in the stock. Ibm Retirement Fund last reported 11,517 shares in the company.

Callon Petroleum Company is an independent oil and natural gas company. The company has a market cap of $2.46 billion. The Firm is engaged in the exploration, development, acquisition and production of oil and natural gas properties. It currently has negative earnings. It focuses on unconventional, onshore, oil and natural gas reserves in the Permian Basin in West Texas and the Midland Basin.

According to Zacks Investment Research, “Callon Petroleum Company has been engaged in the exploration, development, acquisition and production of oil and gas properties since 1950.”

CPE Company Profile

Callon Petroleum Company, incorporated on March 29, 1994, is an independent oil and natural gas company. The Firm is engaged in the exploration, development, acquisition and production of oil and natural gas properties. The Firm focuses on the acquisition, development, exploration and exploitation of unconventional, onshore, oil and natural gas reserves in the Permian Basin in West Texas and the Midland Basin. The Company’s asset base is concentrated in the Midland Basin located within the broader Permian Basin. The Company’s activities are focused on horizontal drilling of several prospective intervals, including multiple levels of the Wolfcamp formation and the Lower Spraberry shale.

Another recent and important Callon Petroleum Company (NYSE:CPE) news was published by Prnewswire.com which published an article titled: “Callon Petroleum Company Announces Upcoming Investor Events” on November 17, 2016.

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