In a report released today, Jeff Grampp from Northland Securities maintained a Hold rating on Callon (CPE), with a price target of $1.00. The company’s shares closed last Thursday at $0.44, close to its 52-week low of $0.38.
According to TipRanks.com, Grampp is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -40.5% and a 15.2% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sundance Energy Australia, Lonestar Resources US, and Northern Oil And Gas.
The word on The Street in general, suggests a Hold analyst consensus rating for Callon with a $0.97 average price target, which is a 102.5% upside from current levels. In a report issued on April 7, Scotiabank also downgraded the stock to Hold with a $0.75 price target.
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Callon’s market cap is currently $172.6M and has a P/E ratio of 2.00. The company has a Price to Book ratio of 0.06.
Based on the recent corporate insider activity of 33 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.
