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Seaport Global Securities downgraded Callon Petroleum Company (NYSE:CPE) to Neutral in a report released today.

Seaport Global Securities has downgraded Callon Petroleum Company (NYSE:CPE) to Neutral in a report released on 6/21/2017.

Boasting a price of $10.24, Callon Petroleum Company (NYSE:CPE) traded -4.62% lower on the day. With the last close down -7.26% from the two hundred day average, compared with the Standard & Poor's 500 Index which has increased 0.04% over the same period. CPE has recorded a 50-day average of $10.38 and a two hundred day average of $11.34. Trade Volume was up over the average, with 39,225,925 shares of CPE changing hands over the typical 5,013,790

Recent Performance Chart

Callon Petroleum Company (NYSE:CPE)

Callon Petroleum Company has price-earnings ratio of 20.04 with a one year low of $9.34 and a one year high of $18.53 and has a total market value of $0.

A total of 20 equity analysts have released a ratings update on CPE. Six equity analysts rating the company a strong buy, fourteen equity analysts rating the company a buy, one broker rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell with a average stock price target of $13.91.

Brief Synopsis On Callon Petroleum Company (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. The Company focuses on the acquisition and development of unconventional oil and natural gas reserves in the Permian Basin. The Permian Basin is located in West Texas and southeastern New Mexico and consisted of three primary sub-basins: the Midland Basin, the Delaware Basin, and the Central Basin Platform as of December 31, 2016. The Company's drilling activity focuses on the horizontal development of various prospective intervals in the Midland Basin, including multiple levels of the Wolfcamp formation and the Lower Spraberry shale. It owns additional immaterial properties in Louisiana. As of December 31, 2016, the Company had owned leaseholds in 39,570 net acres in the Permian Basin, all of which was located in the Midland Basin.

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