Imperial Capital covered (NYSE:CPE) Callon Petroleum, raising its stock price target to $16 earlier today

August 13, 2016

Finance News

Imperial Capital upped the target stock price of Callon Petroleum (NYSE:CPE) to $16, indicating a possible upside of 0.25%,

On 7/18/2016, Citigroup released a statement on Callon Petroleum(NYSE:CPE) of “Neutral” with a target price of $13. At the time, this suggested an upside of 0.07%.

Boasting a price of $12.84, Callon Petroleum (NYSE:CPE) traded 0.37% higher on the day. The last stock price close is up 39.53% relative to the two hundred day moving average, compared to the S&P 500 Index which has fallen 0.00% over the same time period. The company has recorded a 50-day moving average of $11.64 and two hundred day average of $9.75. 4,006,866 shares of CPE exchanged hands, up from an average volume of 3,201,580

See Chart Below:

Callon Petroleum (NYSE:CPE)

Callon Petroleum has a one-year low of $4.21 and a one-year high of $13.85 . Callon Petroleum’s total market value is presently $1.8B.

A total of 20 brokerages have issued a report on the stock. Six analysts rate the company a strong buy, 14 analysts rate the stock a buy, one analyst rate the company a hold, zero rate the company to underperform, and finally zero analystsrate the company as sell with an average target of $13.91

General Company Details For Callon Petroleum (NYSE:CPE)

Callon Petroleum Company is an independent oil and natural gas company. The Company is engaged in the exploration, development, acquisition and production of oil and natural gas properties. It focuses on unconventional, onshore, oil and natural gas reserves in the Permian Basin in West Texas and the Midland Basin. Its asset base is concentrated in the Midland Basin located within the broader Permian Basin. Its operations are focused on horizontal drilling of several prospective intervals, including multiple levels of the Wolfcamp formation. It has drilled approximately 40 gross (over 27.1 net) horizontal, while completing approximately 30 gross (over 25.8 net) horizontal and over 1 gross (approximately 0.4 net) vertical wells. It owns leaseholds over 17, 670 net acres in the Permian Basin. Its Southern Midland Basin area consists of fields located in Upton, Reagan and Crockett Counties, Texas. Its Central Midland Basin area encompasses Midland, Ector, and Andrews and Martin Counties.

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