Williams Capital Thinks Callon’s Stock is Going to Recover


Williams Capital analyst Gabriele Sorbara reiterated a Buy rating on Callon (CPE) today and set a price target of $12. The company’s shares closed yesterday at $6.17, close to its 52-week low of $5.57.

Sorbara observed:

“We tweak down our 2019 estimate to $504.5 million (from $513.6 million). We also carry forward some efficiencies and cost savings into 2020. CPE maintained its prior cost structure guidance.”

According to TipRanks.com, Sorbara is ranked 0 out of 5 stars with an average return of -12.4% and a 29.8% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Gulfport Energy Corp, Extraction Oil & Gas, and Oasis Petroleum Inc.

Callon has an analyst consensus of Strong Buy, with a price target consensus of $11.43.

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The company has a one-year high of $13.09 and a one-year low of $5.57. Currently, Callon has an average volume of 6.21M.

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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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