Northland Securities Keeps a Hold Rating on Callon (CPE)

In a report released today, Jeff Grampp from Northland Securities reiterated a Hold rating on Callon (CPE), with a price target of $7.00. The company’s shares closed last Tuesday at $5.76, close to its 52-week low of $3.80.

According to, Grampp is ranked 0 out of 5 stars with an average return of -34.2% and a 17.5% success rate. Grampp covers the Utilities sector, focusing on stocks such as Northern Oil And Gas, SilverBow Resources, and Evolution Petroleum.

The word on The Street in general, suggests a Hold analyst consensus rating for Callon with a $7.50 average price target, which is a 30.4% upside from current levels. In a report issued on October 30, Citigroup also maintained a Hold rating on the stock with a $6.00 price target.

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Based on Callon’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $157 million and GAAP net loss of $1.56 billion. In comparison, last year the company earned revenue of $167 million and had a net profit of $55.18 million.

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.

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