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 $6.00. The company’s shares closed last Friday at $4.67, close to its 52-week low of $3.80.
According to TipRanks.com, McDermott is a 1-star analyst with an average return of -2.8% and a 39.7% success rate. McDermott covers the Utilities sector, focusing on stocks such as Western Midstream Partners, Hess Midstream Partners, and Continental Resources.
Currently, the analyst consensus on Callon is a Hold with an average price target of $8.38.
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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 2.67M.
Based on the recent corporate insider activity of 29 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.
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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.