In a report released yesterday, Dan McSpirit from BMO Capital reiterated a Buy rating on Callon (CPE), with a price target of $15. The company’s shares closed yesterday at $9.64, close to its 52-week low of $9.23.
According to TipRanks.com, McSpirit is a 2-star analyst with an average return of -0.2% and a 42.9% success rate. McSpirit covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Jagged Peak Energy Inc, and Resolute Energy Corp.
Currently, the analyst consensus on Callon is a Strong Buy with an average price target of $14.67, a 52.2% upside from current levels. In a report issued on November 7, Williams Capital also reiterated a Buy rating on the stock with a $16 price target.
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Callon’s market cap is currently $2.19B and has a P/E ratio of 12.71. The company has a Price to Book ratio of 0.96.
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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 Natchez, MS.
