In a report released yesterday, Thomas Hughes CFA from Wells Fargo maintained a Sell rating on Callon (CPE). The company’s shares closed last Thursday at $5.95, close to its 52-week low of $3.80.
According to TipRanks.com, CFA is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -9.3% and a 36.7% success rate. CFA covers the Utilities sector, focusing on stocks such as Centennial Resource Development, Whiting Petroleum Corporation, and Northern Oil And Gas.
The word on The Street in general, suggests a Hold analyst consensus rating for Callon with a $8.38 average price target, implying a 32.0% upside from current levels. In a report issued on November 3, Siebert Williams Shank & Co also assigned a Sell rating to the stock with a $4.00 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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