Callon Petroleum price target lowered to $52 from $59 at Truist

Truist analyst Neal Dingmann lowered the firm’s price target on Callon Petroleum to $52 from $59 but keeps a Buy rating on the shares. The company should put up a solid quarterly print when it releases its Q4 results this week, the analyst tells investors in a research note, also noting that Callon Petroleum remained one of the more active operators well into year-end. The firm adds however that the company’s production was relatively flat on a sequential basis last quarter, and could decline sequentially early this year due to D&C timing.