Citigroup Initiates Coverage on Callon Petroleum Company to Neutral

Citigroup Initiates Coverage on Callon Petroleum Company(NYSE:CPE). The shares have been rated Neutral. The rating by Citigroup was issued on Jun 29, 2016.

In a different note, On May 26, 2016, Wunderlich said it Maintains its rating on Callon Petroleum Company. In the research note, the firm Raises the price-target to $12.00 per share. The shares have been rated ‘Buy’ by the firm. Credit Suisse said it Initiates Coverage on Callon Petroleum Company, according to a research note issued on May 24, 2016. The shares have been rated ‘Outperform’ by the firm. Credit Suisse said it Initiates Coverage on Callon Petroleum Company, according to a research note issued on May 24, 2016. The shares have been rated ‘Outperform’ by the firm. On Apr 28, 2016, iBERIA Capital Partners said it Maintains its rating on Callon Petroleum Company. In the research note, the firm Raises the price-target to $10.00 per share. The shares have been rated ‘Outperform’ by the firm. On Apr 18, 2016, Stephens & Co. said it Maintains its rating on Callon Petroleum Company. In the research note, the firm Raises the price-target to $9.00 per share. The shares have been rated ‘Overweight’ by the firm.

Callon Petroleum Company (CPE) made into the market gainers list on Fridays trading session with the shares advancing 3.83% or 0.43 points. Due to strong positive momentum, the stock ended at $11.66, which is also near the day’s high of $11.7. The stock began the session at $11.26 and the volume stood at 32,78,746 shares. The 52-week high of the shares is $12.56 and the 52 week low is $4.21. The company has a current market capitalization of $1,529 M and it has 13,10,90,644 shares in outstanding.

Callon Petroleum Company(CPE) last announced its earnings results on Mar 2, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $33.56M. Analysts had an estimated revenue of $39.02M. Earnings per share were $0.05. Analysts had estimated an EPS of $0.03.

Several Insider Transactions has been reported to the SEC. On Jan 15, 2016, Jerry A Weant (Vice President of Land) purchased 1,000 shares at $6.00 per share price.Also, On Jan 7, 2016, Matthew Regis Bob (director) purchased 7,000 shares at $7.50 per share price.On Jun 18, 2015, Mitzi P Conn (Controller) sold 10,000 shares at $8.26 per share price, according to the Form-4 filing with the securities and exchange commission.

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 6230 gross (3862 net) acres located in Midland Andrews and Martin Counties.

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