After Oppenheimer and Williams Capital gave Callon (NYSE: CPE) a Buy rating last month, the company received another Buy, this time from Northland Securities. Analyst Jeff Grampp maintained a Buy rating on Callon today and set a price target of $11. The company’s shares closed yesterday at $7.56.
According to TipRanks.com, Grampp has 0 stars on 0-5 star ranking scale with an average return of -7.5% and a 35.5% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sundance Energy Australia, Penn Virginia Corporation, and SilverBow Resources Inc.
Callon has an analyst consensus of Moderate Buy, with a price target consensus of $11, a 45.5% upside from current levels. In a report issued on April 23, SunTrust Robinson also maintained a Buy rating on the stock with a $12 price target.
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Based on Callon’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $19.54 million. In comparison, last year the company had a net profit of $55.76 million.
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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.
