Rating Action: Callon Petroleum (NYSE:CPE) Hit With “Buy” Rating At Deutsche Bank, Firm Sees $19.00 Stock Price

November 28, 2016 - By Marguerite Chambers

Rating Action: Callon Petroleum (NYSE:CPE) Hit With

Why Deutsche Bank Gives Callon Petroleum (NYSE:CPE) $19.00 Price Target

Deutsche Bank analyst began coverage on Callon Petroleum (NYSE:CPE) with a $19.00 target and “Buy” rating. The target means a potential upside of 19.57% from firm’s last stock price.

Callon Petroleum Company (NYSE:CPE) Ratings Coverage

Out of 20 analysts covering Callon Petroleum (NYSE:CPE), 17 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 85% are positive. $19 is the highest target while $8 is the lowest. The $13.76 average target is -13.35% below today’s ($15.88) stock price. Callon Petroleum has been the topic of 40 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Overweight” rating given on Monday, April 18 by Stephens. The firm earned “Outperform” rating on Friday, September 30 by Imperial Capital. Credit Suisse initiated the shares of CPE in a report on Tuesday, May 24 with “Outperform” rating. iBERIA Capital Partners maintained the shares of CPE in a report on Thursday, April 28 with “Outperform” rating. The rating was initiated by Canaccord Genuity with “Buy” on Tuesday, October 20. The rating was maintained by FBR Capital on Friday, September 9 with “Outperform”. RBC Capital Markets maintained Callon Petroleum Company (NYSE:CPE) on Tuesday, February 2 with “Sector Perform” rating. The firm earned “Buy” rating on Thursday, May 26 by Wunderlich. The rating was initiated by BMO Capital Markets with “Outperform” on Thursday, September 22. Imperial Capital maintained Callon Petroleum Company (NYSE:CPE) on Tuesday, February 9 with “Outperform” rating.

About 3.19 million shares traded hands. Callon Petroleum Company (NYSE: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 $16.17M for 39.73 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 Q2 2016. Its down 0.83, from 2.38 in 2016Q1. The ratio is negative, 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.

E&G Advsrs Limited Partnership holds 47,900 shares or 0.33% of its portfolio. Vanguard Grp Inc holds 0% or 5.27M shares in its portfolio. Brenham Capital Mgmt L P owns 6.40 million shares or 9.2% of their US portfolio. Hillcrest Asset Management Llc has 1.16M shares for 3.28% of their US portfolio. Connor Clark & Lunn Investment Mgmt holds 0.16% or 1.96M shares in its portfolio. California State Teachers Retirement System holds 254,297 shares or 0.01% of its portfolio. Syntal Limited holds 2.25% or 170,314 shares in its portfolio. Bnp Paribas Prtnrs holds 0.05% or 535,922 shares in its portfolio. Baker Avenue Asset Ltd Partnership has 40,500 shares for 0.07% of their US portfolio. Ubs Asset Americas last reported 1.05M shares in the company. Assetmark last reported 0% of its portfolio in the stock. Bridgeway Mgmt holds 592,600 shares or 0.1% of its portfolio. Prudential Fin Incorporated accumulated 12,485 shares or 0% of the stock. Virginia Retirement Sys Et Al owns 139,500 shares or 0.02% of their US portfolio. State Board Of Administration Of Florida Retirement Systems, a Florida-based fund reported 37,502 shares.

Callon Petroleum Company is an independent oil and natural gas company. The company has a market cap of $2.57 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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