Callon (CPE) Gets a Sell Rating from Siebert Williams Shank & Co

By Ryan Adsit

In a report issued on August 13, Gabriele Sorbara from Siebert Williams Shank & Co maintained a Sell rating on Callon (CPEResearch Report), with a price target of $9.00. The company’s shares closed last Tuesday at $7.35, close to its 52-week low of $3.80.

According to TipRanks.com, Sorbara has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -21.1% and a 25.7% success rate. Sorbara covers the Utilities sector, focusing on stocks such as Continental Resources, Matador Resources, and Concho Resources.

Currently, the analyst consensus on Callon is a Hold with an average price target of $12.19, representing a 71.7% upside. In a report issued on August 17, Barclays also maintained a Sell rating on the stock with a $5.00 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 32 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.