In a report released today, Nitin Kumar CFA from Wells Fargo maintained a Hold rating on Callon (CPE – Research Report), with a price target of $70.00. The company’s shares closed last Friday at $38.32.
According to TipRanks.com, CFA is a top 100 analyst with an average return of 31.0% and a 75.7% success rate. CFA covers the Utilities sector, focusing on stocks such as Continental Resources, Southwestern Energy, and Magnolia Oil & Gas.
Callon has an analyst consensus of Moderate Buy, with a price target consensus of $85.75.
Based on Callon’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $777 million and net profit of $39.74 million. In comparison, last year the company earned revenue of $360 million and had a GAAP net loss of $80.41 million.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CPE in relation to earlier this year.
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Callon Petroleum Co. engages in the exploration, development, acquisition, and production of oil and natural gas properties. It focuses on unconventional oil and natural gas reserves in the Permian Basin. The company was founded by Sim C. Callon and John S. Callon in 1950 and is headquartered in Houston, TX.
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