Callon Receives a Buy from Northland Securities

By Jason Carr

In a report issued on October 30, Jeff Grampp from Northland Securities reiterated a Buy rating on Callon (NYSE: CPE), with a price target of $18. The company’s shares closed yesterday at $11.09.

According to, Grampp is ranked 0 out of 5 stars with an average return of -10.0% and a 31.9% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sanchez Energy Corporation, Penn Virginia Corporation, and Evolution Petroleum Corp.

Currently, the analyst consensus on Callon is Strong Buy and the average price target is $15.72, representing a 41.7% upside.

In a report issued on October 23, KeyBanc also reiterated a Buy rating on the stock with a $16 price target.

Callon’s market cap is currently $2.24B and has a P/E ratio of 22.18. The company has a book value ratio of 1.2325.

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Callon Petroleum Co. engages in the exploration, development, acquisition, and production of oil and natural gas properties. It operates oil and gas properties in the Permian Basin, in West Texas. The company was founded by Sim C. Callon and John S. Callon in 1950 and is headquartered in Natchez, MS.