Citigroup raised its price target on Callon Petroleum (NYSE:CPE) to $45.00.
Citigroup equity research analysts raised their price target on Callon Petroleum (NYSE: CPE-Get Rating) from $40.00 to $45.00 in a research note sent Friday to clients and investors. The report was distributed to customers by Citigroup. The stock price is expected to rise 11.14% from its most recent closing price, according to Citigroup’s projection for the stock price. There has been an increase in the amount of EPC-related research that has been published. In a research report released Monday, August 29, Morgan Stanley lowered its rating on Callon Petroleum from “equal weight” to “market weight.”
Additionally, they reduced their target price on the stock from $70.00 to $64.00. While maintaining its “buy” rating on Callon Petroleum in a research note released July 13, Truist Financial lowered its price target for the company while recommending investors buy the stock. In a research note released July 11, Wells Fargo & Company downgraded its rating on Callon Petroleum shares to “equal weight” and lowered its price target on the stock from $78.00 to $70.00. . The rating was issued in response to the company’s decision to lower its price target on the stock. The Royal Bank of Canada, in a research note published on July 6, raised its rating on Callon Petroleum shares from “performing sector” to “outperforming”.
Additionally, the bank has set a price target for the shares at $75.00. Finally, in a July 6 research note, JPMorgan Chase & Co. reduced its price target on Callon Petroleum shares from $75.00 to $68.00 and classified the company as “underweight.” On Friday, CPE stock price was pegged at $40.49 at the start of trading. The one-year low price for Callon Petroleum stock is $31.75 and the one-year high price for the stock is $66.48. The consensus price target for the company is $71.63 and the company’s average rating is “Hold”. The company’s stock price is now trading at a fifty-day moving average of $40.62, while the two-hundred-day moving average is $49.88.
The three liquidity ratios, the current ratio, the quick ratio and the debt ratio, all stand at 0.39, while the debt ratio is 1.11. The value of the company, measured by its market cap, is $2.50 billion. The price/earnings ratio of the stock is 2.76 and its beta value is 2.72. Recently, hedge funds have gone through the process of changing their equity holdings. Point72 Hong Kong Ltd. invested around $95,000 to buy a new position in Callon Petroleum in the last three months of 2018.
PNC Financial Services Group Inc. increased the number of Callon Petroleum shares it held by a quarter percent in the first three months of 2018. After purchasing an additional 462 shares in the last quarter, PNC Financial Services Group Inc. has full ownership of 2,296 shares of the oil and gas company, valued at $135,000. This brings the total number of shares held by the company to 2,296. US Asset Management LLC lost approximately $157,500 in the first three months of 2018 to buy a new stake in Callon Petroleum. The value of assets held by Captrust Financial Advisors in Callon Petroleum increased by 102.1% in the first three months of 2018.
After making an additional purchase of 1,642 shares in the last quarter, Captrust Financial Advisors now owns a total of 3,251 shares of the oil and gas company, worth $192,000 after factoring in their cost basis ( in the last report). During the first quarter, Bell & Brown Wealth Advisors LLC purchased about $206,000 worth of Callon Petroleum stock, an effort not to be outmatched by competitors. The main objectives of the independent oil and gas company Callon Petroleum Firm are the acquisition, exploration and production of oil and gas resources in the Permian Basin of West Texas.
Currently, institutional investors hold 87.85% of the company’s capital. The company is expected to have net proved reserves of 484.6 million barrels of oil equivalent as of December 31, 2021. These reserves contained 577.3 billion cubic feet of natural gas, 290.3 million barrels of oil and 98.1 million barrels of natural gas liquids. .