Brokerage Firm Rating Update on Callon Petroleum Company (CPE)

Callon Petroleum Company (CPE) : 13 brokerage houses believe that Callon Petroleum Company (CPE) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. Zacks Investment Research suggests a Hold with a rank of 3.The median of all the 14 Wall Street Analysts endorse the stock as a Strong Buy with a rating of 1.07.

Callon Petroleum Company (CPE) : The highest short term price target forecast on Callon Petroleum Company (CPE) is $20 and the lowest target price is $11. A total of 15 equity analysts are currently covering the company. The average price of all the analysts is $16.63 with a standard deviation of $1.99.


For the current week, the company shares have a recommendation consensus of Buy. Also, Equity Analysts at the Brokerage Firm, KeyBanc, maintains their rating on the shares of Callon Petroleum Company (NYSE:CPE). KeyBanc has a Overweight rating on the shares. As per the latest research report, the brokerage house raises the price target to $16 per share from a prior target of $14. The rating by the firm was issued on August 22, 2016.

Callon Petroleum Company (NYSE:CPE): The stock opened at $15.05 and touched an intraday high of $15.68 on Wednesday. During the day, the stock corrected to an intraday low of $15.05, however, the bulls stepped in and pushed the price higher to close in the green at $15.46 with a gain of 1.05% for the day. The total traded volume for the day was 22,900,555. The stock had closed at $15.3 in the previous trading session.

Callon Petroleum Company is an independent oil and natural gas company. The Company is engaged in the exploration, development, acquisition and production of oil and natural gas properties. The Company is focused on unconventional, onshore, oil and natural gas reserves in the Permian Basin in West Texas and the Midland Basin. Its asset base is concentrated in the Midland Basin located within the broader Permian Basin. Its operations are focused on horizontal drilling of several prospective intervals, including multiple levels of the Wolfcamp formation. The Company operates two horizontal drilling rigs focused on four prospective zones for development. The Company drilled approximately 27 gross (24.4 net) horizontal and 7 gross (4.3 net) vertical wells, while completing around 31 gross (27.3 net) horizontal and 5 gross (3.1 net) vertical wells. The Company also owns 6,230 gross (3,862 net) acres located in Midland, Andrews and Martin Counties.

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