Callon (CPE) Gets a Buy Rating from Barclays


In a report released yesterday, William S. Thompson from Barclays maintained a Buy rating on Callon (CPE), with a price target of $5.00. The company’s shares closed last Monday at $3.81, close to its 52-week low of $3.69.

According to TipRanks.com, Thompson ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -12.1% and a 23.8% success rate. Thompson covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Whiting Petroleum Corp, and Extraction Oil & Gas.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Callon with a $7.79 average price target, which is a 109.4% upside from current levels. In a report issued on October 21, Williams Capital also maintained a Buy rating on the stock with a $8.00 price target.

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Callon’s market cap is currently $870.2M and has a P/E ratio of 3.91. The company has a Price to Book ratio of 0.35.

Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CPE in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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