Streetbeat News

CPE

Callon Petroleum Co.

https://www.callon.com/

CEO

Joseph Gatto

Employees

358

Industry

Crude Petroleum and Natural Gas Extraction

founded in 1950, callon petroleum company is an independent oil and natural gas company focused on growing production and reserves from our oil-weighted, multi-play, multi-pay assets in the permian basin.

Open

35.45

Mkt cap

2.4B

Volume

30M

High

36.18

P/E Ratio

5.78

52-wk high

41.36

Low

35.35

Div yield

N/A

52-wk low

28.62

Mizuho analyst Nitin Kumar has maintained a Neutral rating on Callon Petroleum (CPE) and reduced the price target from $40 to $38.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 11:39 am

Several top Wall Street analysts have updated their price targets and ratings for various US-listed companies. Notably, Truist Securities raised the price target for Enphase Energy, Inc. (ENPH) from $85 to $145 and upgraded the stock to Buy, implying over a 35% potential rally. Other companies such as Constellium SE (CSTM), Zuora, Inc. (ZUO), Teva Pharmaceutical (TEVA), NuStar Energy L.P. (NS), Callon Petroleum Company (CPE), BioNTech SE (BNTX), Viant Technology Inc. (DSP), Chevron Corporation (CVX), and Materion Corporation (MTRN) also saw changes in their price targets and ratings.

Portfolio Pulse from Avi Kapoor

January 23, 2024 | 12:44 pm

Callon Petroleum (NYSE:CPE) has received mixed analyst ratings over the past three months, with 1 bullish, 1 somewhat bullish, and 3 indifferent. The average 12-month price target for CPE has been lowered to $39.6, a 16.19% decrease from the previous target of $47.25. Analysts from Stifel, Mizuho, Morgan Stanley, and RBC Capital have adjusted their ratings and price targets, reflecting changes in market conditions and company performance. Callon Petroleum operates in the oil and natural gas sector, with a focus on the Permian Basin. The company's financial performance shows challenges in revenue growth, profitability, and asset utilization, but a sound debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

January 23, 2024 | 12:00 pm

Stifel analyst Derrick Whitfield downgraded Callon Petroleum (NYSE:CPE) from Buy to Hold and reduced the price target from $44 to $32.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 11:12 am

Benzinga Insights identifies value stocks in the energy sector with low P/E ratios, including GeoPark, Antero Resources, Callon Petroleum, DHT Holdings, and Frontline. The article provides recent earnings per share data and dividend yield changes for these companies, noting that while they may be undervalued, there is a risk that they may not rebound.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 2:39 pm

APA (NASDAQ:APA) has announced the acquisition of Callon Petroleum (NYSE:CPE) for $4.50 billion in stock, expected to close in Q2 of 2024. APA is a Houston-based independent exploration and production company, while Callon Petroleum operates in oil and natural gas exploration and production in the Permian Basin. The acquisition allows APA to consolidate ownership and potentially lead to a merger.

Portfolio Pulse from Benzinga Insights

January 04, 2024 | 3:10 pm

APA Corp (NASDAQ:APA) is set to acquire Callon Petroleum Company (NYSE:CPE) in an all-stock deal valued at $4.5 billion, including CPE's debt. The deal terms state that each CPE share will be exchanged for 1.0425 APA shares, with an implied value of $38.31 per CPE share. Post-merger, APA shareholders will own approximately 81% and CPE shareholders 19% of the combined entity. The merger is expected to close in Q2 2024, subject to customary conditions. APA plans to retire CPE's debt and replace it with $2 billion in term loan facilities. The acquisition is anticipated to be accretive to APA's financial metrics, increase production, and provide operational synergies exceeding $150 million annually. APA shares dropped 4.35% while CPE shares rose 6.39% in premarket trading following the announcement.

Portfolio Pulse from Lekha Gupta

January 04, 2024 | 2:02 pm

APA Corporation (APA) has announced an all-stock acquisition of Callon Petroleum (CPE), causing CPE shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:56 pm

APA Corporation (APA) and Callon Petroleum Company (CPE) have announced a stock-for-stock transaction where each share of Callon common stock will be exchanged for 1.0425 shares of APA common stock. The deal is expected to be financially beneficial, enhancing key metrics and expanding APA's presence in the Permian Basin, especially in the Delaware Basin where Callon holds approximately 120,000 acres.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 11:03 am

APA Corporation has agreed to acquire Callon Petroleum in an all-stock transaction valued at around $4.5 billion, including net debt. This strategic move will expand APA's portfolio and is expected to create value for shareholders of both companies.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 11:01 am

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