Imperial Capital disclosed Callon Petroleum (NYSE:CPE), hiking its price target to $18.00 earlier today
- Updated: September 30, 2016
Reporting a potential upside of 0.20%, Imperial Capital upped the price target of Callon Petroleum (NYSE:CPE) to $18.00
Having a price of $14.98, Callon Petroleum (NYSE:CPE) traded 4.81% higher on the day. The last closing price is up 34.51% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time period. The company has recorded a 50-day average of $14.51 and a two hundred day average of $11.67. Volume of trade was up over the average, with 7,451,572 shares of CPE changing hands over the typical 4,034,510
With a total market value of $0, Callon Petroleum has with a one year low of $4.21 and a one year high of $15.91 .
A total of 20 brokerages have issued a ratings update on Callon Petroleum. Six brokerages rating the company a strong buy, fourteen brokerages rating the company a buy, one brokerage rating the company a hold, zero brokerages rating the company a underperform, and finally zero brokerages rating the company a sell with a 12-month price 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, Andrews and Martin Counties.
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