Callon (CPE) Received its Third Buy in a Row


After Williams Capital and Northland Securities gave Callon (NYSE: CPE) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Tim Rezvan assigned a Buy rating to Callon yesterday. The company’s shares closed yesterday at $7.56.

According to TipRanks.com, Rezvan is a 3-star analyst with an average return of 1.0% and a 50.0% success rate. Rezvan covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp, Gulfport Energy Corp, and Occidental Petroleum.

Currently, the analyst consensus on Callon is a Moderate Buy with an average price target 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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Callon’s market cap is currently $1.72B and has a P/E ratio of 5.66. The company has a Price to Book ratio of 0.70.

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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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