Callon (CPE) Gets a Hold Rating from Morgan Stanley
In a report released today, Devin McDermott from Morgan Stanley maintained a Hold rating on Callon (CPE), with a price target of $8.00. The company’s shares closed last Tuesday at $7.68, close to its 52-week low of $3.80.
According to TipRanks.com, McDermott is a 1-star analyst with an average return of -0.6% and a 45.9% success rate. McDermott covers the Utilities sector, focusing on stocks such as Western Midstream Partners, Hess Midstream Partners, and Continental Resources.
Callon has an analyst consensus of Hold, with a price target consensus of $8.38, representing a 18.0% upside. In a report issued on November 4, Northland Securities also reiterated a Hold rating on the stock with a $7.00 price target.
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The company has a one-year high of $49.80 and a one-year low of $3.80. Currently, Callon has an average volume of 2.9M.
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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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