In a report released yesterday, Derrick Whitfield from Stifel Nicolaus maintained a Buy rating on Callon (CPE – Research Report), with a price target of $69.00. The company’s shares closed yesterday at $45.05.
Whitfield covers the Utilities sector, focusing on stocks such as Diamondback, Callon, and Comstock Resources. According to TipRanks, Whitfield has an average return of -6.1% and a 42.47% success rate on recommended stocks.
Callon has an analyst consensus of Hold, with a price target consensus of $70.83.
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Based on Callon’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $913.62 million and a net profit of $348.01 million. In comparison, last year the company earned a revenue of $440.4 million and had a GAAP net loss of $11.7 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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