Callon (CPE) Receives a Hold from Siebert Williams Shank & Co


Siebert Williams Shank & Co analyst Gabriele Sorbara maintained a Hold rating on Callon (CPE) on March 12 and set a price target of $10.00. The company’s shares closed last Wednesday at $15.36.

According to TipRanks.com, Sorbara ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -16.0% and a 30.3% success rate. Sorbara covers the Utilities sector, focusing on stocks such as Continental Resources, Matador Resources, and Laredo Petroleum.

Currently, the analyst consensus on Callon is a Hold with an average price target of $12.63, implying a -13.3% downside from current levels. In a report issued on March 9, Truist Financial also downgraded the stock to Hold with a $15.00 price target.

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Based on Callon’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $290 million and GAAP net loss of $680 million. In comparison, last year the company earned revenue of $155 million and had a net profit of $55.83 million.

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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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