Williams Capital analyst Gabriele Sorbara reiterated a Buy rating on Callon (CPE) today and set a price target of $12. The company’s shares closed yesterday at $6.53, close to its 52-week low of $5.57.
According to TipRanks.com, Sorbara ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -11.8% and a 30.5% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Jagged Peak Energy Inc, Gulfport Energy Corp, and Extraction Oil & Gas.
Currently, the analyst consensus on Callon is a Strong Buy with an average price target of $11.50, implying a 76.1% upside from current levels. In a report issued on June 13, Northland Securities also reiterated a Buy rating on the stock with a $11 price target.
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Callon’s market cap is currently $1.49B and has a P/E ratio of 6.73. The company has a Price to Book ratio of 0.61.
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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.
