Short Term Price Target on Callon Petroleum Company (CPE)

Callon Petroleum Company (NYSE:CPE) : The consensus price target for Callon Petroleum Company (NYSE:CPE) is $14.16 for the short term with a standard deviation of $1.8. The most optimist securities analyst among the 14 who monitor the stock believes that the stock can reach $18, however, the pessimist price target for the company is $11.

Callon Petroleum Company has lost 5.39% in the last five trading days and dropped 1.66% in the last 4 weeks. Callon Petroleum Company is up 27.32% in the last 3-month period. Year-to-Date the stock performance stands at 34.65%. Also, In a research note released to the investors, Wunderlich maintains its rating on Callon Petroleum Company (NYSE:CPE).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, Wunderlich raises the new price target from $12 per share to $16 per share. The rating by the firm was issued on May 26, 2016.

Callon Petroleum Company (NYSE:CPE) has an average broker rating of 1, which is interpreted as a Strong Buy, as rated by 14 equity analysts. Nonetheless, 14 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. Ranking by Zacks Investment Research for Coach Inc is 2, which is also a Buy.

Callon Petroleum Company (NYSE:CPE): The stock opened at $11.67 on Thursday but the bulls could not build on the opening and the stock topped out at $11.67 for the day. The stock traded down to $11.15 during the day, due to lack of any buying support eventually closed down at $11.23 with a loss of -4.02% for the day. The stock had closed at $11.70 on the previous day. The total traded volume was 5,812,388 shares.

In an insider trading activity, The Securities and Exchange Commission has divulged in a Form 4 filing that the officer (Vice President of Land) of Callon Petroleum Co, Weant Jerry A had purchased shares worth of $6,000 in a transaction dated on January 13, 2016. A total of 1,000 shares were purchased at a price of $6 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

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 is focused 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. The Company operates two horizontal drilling rigs focused on four prospective zones for development. The Company drilled approximately 27 gross (24.4 net) horizontal and 7 gross (4.3 net) vertical wells, while completing around 31 gross (27.3 net) horizontal and 5 gross (3.1 net) vertical wells. The Company also owns 6,230 gross (3,862 net) acres located in Midland, Andrews and Martin Counties.

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