November 28, 2016 - By Richard Conner
In a an analyst note shared with investors and clients on Monday morning, research analysts at Deutsche Bank has initiated coverage on shares of Callon Petroleum (NYSE:CPE). The firm set a Buy rating with $15.84, giving 3.66% to target.
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 -9.95% below today’s ($15.28) stock price. Callon Petroleum has been the topic of 40 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The company was initiated on Thursday, September 22 by BMO Capital Markets. The firm earned “Neutral” rating on Monday, July 18 by Citigroup. The firm has “Hold” rating by Zacks given on Thursday, August 6. On Thursday, April 28 the stock rating was maintained by iBERIA Capital Partners with “Outperform”. The rating was initiated by JP Morgan on Tuesday, October 13 with “Overweight”. Imperial Capital maintained the shares of CPE in a report on Friday, September 30 with “Outperform” rating. The firm earned “Overweight” rating on Friday, August 14 by KeyBanc Capital Markets. The company was upgraded on Thursday, September 8 by RBC Capital Markets. The stock of Callon Petroleum Company (NYSE:CPE) earned “Outperform” rating by FBR Capital on Thursday, November 5. On Thursday, August 11 the stock rating was maintained by Citigroup with “Neutral”.
About 5.06 million shares traded hands or 21.05% up from the average. 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 $16.16 million for 38.20 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 fall, 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.
Century holds 0.01% or 467,094 shares in its portfolio. Utd Cap Fincl Advisers Lc, a California-based fund reported 111,802 shares. Wells Fargo Mn last reported 0% of its portfolio in the stock. Creative Planning holds 1,659 shares or 0% of its portfolio. Emerald Mutual Fund Advisers Trust holds 0.52% of its portfolio in Callon Petroleum Company (NYSE:CPE) for 822,557 shares. Discovery Ltd Liability Corporation Ct reported 5.33M shares or 1.38% of all its holdings. Geduld E E owns 15,000 shares or 0.22% of their US portfolio. Eagle Asset last reported 1.07 million shares in the company. First Republic Inc accumulated 0% or 22,260 shares. Lombard Odier Asset Mngmt (Usa) holds 0.42% of its portfolio in Callon Petroleum Company (NYSE:CPE) for 308,544 shares. Doheny Asset Mgmt Ca last reported 20,775 shares in the company. Cardinal Management Ltd Company Ct has 158,780 shares for 0.09% of their US portfolio. State Street Corp reported 4.49M shares or 0.01% of all its holdings. City Holdings Com reported 300 shares or 0% of all its holdings. Financial Bank Of Montreal Can holds 0% or 3,161 shares in its portfolio.
Callon Petroleum Company is an independent oil and natural gas company. The company has a market cap of $2.47 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.”
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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