Callon (CPE) Receives a Buy from Northland Securities

By Jason Carr

Northland Securities analyst Jeff Grampp maintained a Buy rating on Callon (CPEResearch Report) on November 14 and set a price target of $7.00. The company’s shares closed last Monday at $4.37, close to its 52-week low of $3.69.

According to, Grampp has 0 stars on 0-5 star ranking scale with an average return of -15.7% and a 24.7% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sundance Energy Australia, Lonestar Resources US, and Northern Oil And Gas.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Callon with a $7.30 average price target, which is a 71.4% upside from current levels. In a report issued on November 5, Williams Capital also maintained a Buy rating on the stock with a $8.00 price target.

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The company has a one-year high of $9.82 and a one-year low of $3.69. Currently, Callon has an average volume of 18.19M.

Based on the recent corporate insider activity of 24 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.