Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, exploration, and development of oil and natural gas properties in Permian Basin in West Texas. As of December 31, 2020, its estimated net proved reserves totaled approximately 475.9 million barrel of oil equivalent, including 289.5 MMBbls oil, 541.6 Bcf of natural gas, and 96.1 MMBbls of natural gas liquids. The company was founded in 1950 and is headquartered in Houston, Texas.
IPO Year:
Exchange: NYSE
Website: callon.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 1/3/2024 | $60.00 → $40.00 | Buy → Neutral | Mizuho |
| 8/16/2023 | $40.00 → $45.00 | Neutral → Buy | Citigroup |
| 1/10/2023 | $59.00 | Buy | Mizuho |
| 12/5/2022 | $57.00 | Underweight → Neutral | JP Morgan |
| 9/20/2022 | Sector Weight | KeyBanc Capital Markets | |
| 7/6/2022 | $75.00 | Sector Perform → Outperform | RBC Capital Mkts |
| 4/18/2022 | $80.00 | Neutral → Buy | ROTH Capital |
| 3/8/2022 | $64.00 → $100.00 | Hold → Buy | Truist Securities |
| 1/25/2022 | $77.00 → $63.00 | Equal-Weight | Morgan Stanley |
| 1/21/2022 | $62.00 | Neutral → Underweight | JP Morgan |
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S&P 500 constituent APA Corp. is acquiring Callon Petroleum in a transaction expected to be completed on or about that date pending final conditions.
During the last three months, 4 analysts shared their evaluations of Callon Petroleum (NYSE:CPE), revealing diverse outlooks from bullish to bearish. The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 0 0 4 0 0 Last 30D 0 0 1 0 0 1M Ago 0 0 1 0 0 2M Ago 0 0 1 0 0 3M Ago 0 0 1 0 0 Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $36.25, along with a high estimate of $40.0
Mizuho analyst Nitin Kumar maintains Callon Petroleum (NYSE:CPE) with a Neutral and lowers the price target from $38 to $35.
Marathon Oil Corp (NYSE:MRO) stock hasn’t been an investor darling in 2023. So far in 2024 too, the stock has gained just 1.8%. This appears dismal compared to the broad market SPDR S&P 500 ETF‘s (NYSE:SPY) 7.7% rise and the SPDR S&P Oil & Gas Exploration & Production ETF‘s (NYSE:XOP) 3.9% ascent. Nonetheless, the stock has recovered 4% since its fourth-quarter earnings report. However, green shoots appear to be emerging when analyzing the valuations of major companies in the Exploration and Production (E&P) sector, based on the latest pricing trends. Also Read: Marathon Oil’s Q4 Earnings Exceed Expectations: Analyst Highlights Promising 2024 Cash Flow Forecast The Marathon Oil Anal
APA and Callon have scheduled separate shareholder meetings for March 27, 2024, for their respective shareholders to vote on the transaction. APA said the applicable statutory waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 expired on Feb. 22, 2024.
Callon Petroleum (NYSE:CPE) reported quarterly earnings of $1.62 per share which beat the analyst consensus estimate of $1.61 by 0.62 percent. This is a 51.79 percent decrease over earnings of $3.36 per share from the same period last year. The company reported quarterly sales of $485.73 million which missed the analyst consensus estimate of $546.26 million by 11.08 percent. This is a 13.56 percent decrease over sales of $561.90 million the same period last year.
Callon Petroleum (NYSE:CPE) reported quarterly earnings of $1.62 per share which beat the analyst consensus estimate of $1.61 by 0.62 percent. This is a 51.79 percent decrease over earnings of $3.36 per share from the same period last year.
In the preceding three months, 5 analysts have released ratings for Callon Petroleum (NYSE:CPE), presenting a wide array of perspectives from bullish to bearish. Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 0 4 0 0 Last 30D 0 0 1 0 0 1M Ago 0 0 0 0 0 2M Ago 0 0 2 0 0 3M Ago 1 0 1 0 0 The 12-month price targets, analyzed by analysts, offer insights with an average target of $38.8, a high estimate of $44.00, and a low estimate of $32.00. Experiencing a 13.3% decline, the current average is n
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Mizuho downgraded Callon Petroleum from Buy to Neutral and set a new price target of $40.00 from $60.00 previously
Citigroup upgraded Callon Petroleum from Neutral to Buy and set a new price target of $45.00 from $40.00 previously
Mizuho initiated coverage of Callon Petroleum with a rating of Buy and set a new price target of $59.00
JP Morgan upgraded Callon Petroleum from Underweight to Neutral and set a new price target of $57.00
KeyBanc Capital Markets initiated coverage of Callon Petroleum with a rating of Sector Weight
RBC Capital Mkts upgraded Callon Petroleum from Sector Perform to Outperform and set a new price target of $75.00
ROTH Capital upgraded Callon Petroleum from Neutral to Buy and set a new price target of $80.00
Truist Securities upgraded Callon Petroleum from Hold to Buy and set a new price target of $100.00 from $64.00 previously
Morgan Stanley reiterated coverage of Callon Petroleum with a rating of Equal-Weight and set a new price target of $63.00 from $77.00 previously
JP Morgan downgraded Callon Petroleum from Neutral to Underweight and set a new price target of $62.00
HOUSTON, April 01, 2024 (GLOBE NEWSWIRE) -- APA Corporation (NASDAQ:APA) announced today that its acquisition of Callon Petroleum Company (NYSE:CPE) has been completed. The transaction was approved by APA and Callon shareholders at special meetings held on March 27, 2024. "We are very pleased to close this transaction as Callon's assets bring scale to our Delaware position and balance to our overall Permian asset base — all at what we believe is a compelling valuation," said John J. Christmann IV, APA's CEO. "We are confident this transaction will create shareholder value, as we expect to drive improved capital productivity and well performance, while realizing significant cost synergies.
HOUSTON, March 29, 2024 /PRNewswire/ -- Callon Petroleum Company (NYSE:CPE) ("Callon" or the "Company") today announced the expiration and final tender results of its previously announced cash tender offers (the "Offers") for any and all of its 8.000% Senior Notes due 2028 (the "2028 Notes") and any and all of its 7.500% Senior Notes due 2030 (the "2030 Notes" and, together with the 2028 Notes, the "Notes"). The terms and conditions of the Offers and the Consent Solicitations (as defined below) are set forth in the Offer to Purchase and Consent Solicitation Statement, dated as of March 1, 2024 (as it may be amended or supplemented from time to time, the "Statement"). The Offers and the Cons
NEW YORK, March 25, 2024 /PRNewswire/ -- AppFolio Inc. (NASD:APPF) will replace Inari Medical Inc. (NASD:NARI) in the S&P MidCap 400, and Inari Medical will replace Callon Petroleum Co. (NYSE:CPE) in the S&P SmallCap 600 effective prior to the opening of trading on Monday, April 1. S&P 500 constituent APA Corp. (NASD:APA) is acquiring Callon Petroleum in a transaction expected to be completed on or about that date pending final conditions. Following is a summary of the changes that will take place prior to the open of trading on the effective date: Effective Date Index Name Action Company Name Ticker GICS Sector April 1, 2024 S&P MidCap 400 Addition AppFolio APPF Information Technology S&P
HOUSTON, March 15, 2024 /PRNewswire/ -- Callon Petroleum Company (NYSE:CPE) ("Callon" or the "Company") today announced the pricing terms of its previously announced cash tender offers (the "Offers") for any and all of its 8.000% Senior Notes due 2028 (the "2028 Notes") and any and all of its 7.500% Senior Notes due 2030 (the "2030 Notes" and, together with the 2028 Notes, the "Notes"). The terms and conditions of the Offers and the Consent Solicitations (as defined below) are set forth in the Offer to Purchase and Consent Solicitation Statement, dated as of March 1, 2024 (as it may be amended or supplemented from time to time, the "Statement"). As previously announced, the Offers are conti
HOUSTON, March 15, 2024 /PRNewswire/ -- Callon Petroleum Company (NYSE:CPE) ("Callon" or the "Company") today announced the early tender results of its previously announced cash tender offers (the "Offers") for any and all of its 8.000% Senior Notes due 2028 (the "2028 Notes") and any and all of its 7.500% Senior Notes due 2030 (the "2030 Notes" and, together with the 2028 Notes, the "Notes"). The terms and conditions of the Offers and the Consent Solicitations (as defined below) are set forth in the Offer to Purchase and Consent Solicitation Statement, dated as of March 1, 2024 (as it may be amended or supplemented from time to time, the "Statement"). According to information provided by D
HOUSTON, March 1, 2024 /PRNewswire/ -- Callon Petroleum Company (NYSE:CPE) ("Callon" or the "Company") today announced that it has commenced cash tender offers (the "Offers") for any and all of its 8.000% Senior Notes due 2028 (the "2028 Notes") and any and all of its 7.500% Senior Notes due 2030 (the "2030 Notes" and, together with the 2028 Notes, the "Notes"), upon the terms and conditions set forth in the Offer to Purchase and Consent Solicitation Statement, dated as of March 1, 2024 (as it may be amended or supplemented from time to time, the "Statement"). The Offers will expire at 11:59 p.m., New York City time, on March 28, 2024, unless extended or earlier terminated (as such time may
MONSEY, N.Y., Feb. 28, 2024 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP has renewed its investigation of the proposed merger of Callon Petroleum Company (NYSE:CPE) ("Callon") with APA Corp. ("APA") in an all-stock transaction that values Callon at approximately $38.31/share, which is below the price target of virtually all Wall Street analysts for Callon stock prior to announcement of the merger. The investigation of the proposed merger was renewed upon the filing of a proxy by Callon on February 16, 2024. If you remain a Callon shareholder and have concerns about the transaction, you may contact our firm at the following link to discuss your legal rights at no charge: https
Fourth quarter results top expectations for production Long-term debt further reduced to $1.9 billion Realized reductions in well costs and gains in well productivity to drive 2024 capital efficiency HOUSTON, Feb. 26, 2024 /PRNewswire/ -- Callon Petroleum Company (NYSE:CPE) ("Callon" or the "Company") today reported fourth quarter and full year 2023 financial and operating results. Due to the pending merger (the "Merger") with APA Corporation ("APA"), Callon will not host a conference call or webcast to discuss its fourth quarter and full year 2023 results. Fourth Quarter 2023 Highlights Generated $298.3 million of net cash provided by operating activitiesAdjusted free cash flow of $120.2
Complements and enhances APA's asset base in the Permian Basin; expected to be accretive to key financial metrics;Adds to APA's high-quality, short-cycle development inventory and increases oil mix; andStrengthens APA's position as a leading, diversified independent E&P with pro forma production of more than 500,000 barrels of oil equivalent (BOE) per day and pro forma enterprise value in excess of $21 billion.*HOUSTON, Jan. 4, 2024 /PRNewswire/ -- APA Corporation ("APA" or the "Company") (NASDAQ:APA) and Callon Petroleum Company ("Callon") (NYSE:CPE) have entered into a definitive agreement under which APA will acquire Callon in an all-stock transaction valued at approximately $4.5 billion,
Complements and enhances APA's asset base in the Permian Basin; expected to be accretive to key financial metrics;Adds to APA's high-quality, short-cycle development inventory and increases oil mix; andStrengthens APA's position as a leading, diversified independent E&P with pro forma production of more than 500,000 barrels of oil equivalent (BOE) per day and pro forma enterprise value in excess of $21 billion.* HOUSTON, Jan. 04, 2024 (GLOBE NEWSWIRE) -- APA Corporation ("APA" or the "Company") (NASDAQ:APA) and Callon Petroleum Company ("Callon") (NYSE:CPE) have entered into a definitive agreement under which APA will acquire Callon in an all-stock transaction valued at approximately $4.
NEW YORK, March 25, 2024 /PRNewswire/ -- AppFolio Inc. (NASD:APPF) will replace Inari Medical Inc. (NASD:NARI) in the S&P MidCap 400, and Inari Medical will replace Callon Petroleum Co. (NYSE:CPE) in the S&P SmallCap 600 effective prior to the opening of trading on Monday, April 1. S&P 500 constituent APA Corp. (NASD:APA) is acquiring Callon Petroleum in a transaction expected to be completed on or about that date pending final conditions. Following is a summary of the changes that will take place prior to the open of trading on the effective date: Effective Date Index Name Action Company Name Ticker GICS Sector April 1, 2024 S&P MidCap 400 Addition AppFolio APPF Information Technology S&P
HOUSTON, April 27, 2023 /PRNewswire/ -- Callon Petroleum Company (NYSE:CPE) ("Callon" or the "Company") today announced that Matthew R. Bob has been named Chair of the Board of Directors and James ("Jim") Craddock has been elected as a new member of the Board by the shareholders of the Company. Mr. Bob's appointment follows the retirement of former Chair L. Richard Flury and reflects the ongoing refreshment and succession planning efforts of the Board. Mr. Bob has served on the Callon Board since 2014. He recently retired as President of Eagle Oil & Gas Co., an independent oil and gas company with operations in Texas. A registered geoscientist, he is also the founder and managing member of M
HOUSTON, Feb. 13, 2023 /PRNewswire/ -- Callon Petroleum Company (NYSE:CPE) ("Callon" or the "Company") today announced L. Richard Flury's intention to retire from the Board of Directors following the 2023 Annual Meeting of Shareholders ("Annual Meeting"). "With guidance from Richard's deep experience in the energy industry, Callon has built a high-quality asset base of more than 200,000 gross acres in the leading oil plays in the Permian Basin and Eagle Ford Shale that has allowed us to profitably grow our production throughout his tenure," commented Callon President and Chief Executive Officer Joe Gatto. "Richard's leadership supported Callon through transformational acquisitions that have
HOUSTON, Jan. 5, 2022 /PRNewswire/ -- Callon Petroleum Company (NYSE:CPE) ("Callon" or the "Company") today announced the resignation of S.P. "Chip" Johnson IV from its Board of Directors ("Board"), effective immediately. Mr. Johnson, former president, chief executive officer, and co-founder of Carrizo Oil and Gas, Inc. ("Carrizo"), joined the Board in December 2019 upon the completion of Callon's merger with Carrizo. "I am confident in the strategic direction of the Company and look forward to watching Callon's committed Board and management team continue to execute a disciplined strategy," said Mr. Johnson. "It's been a pleasure to play a part in the successful integration of Callon and C
HOUSTON, Dec. 20, 2021 /PRNewswire/ -- Callon Petroleum Company (NYSE:CPE) ("Callon" or the "Company") is pleased to announce the appointment of Mary Shafer-Malicki to its Board of Directors. Ms. Shafer-Malicki brings valuable experience in energy, governance, and strategy to the Callon Board. Over a career spanning more than 25 years at BP, she held domestic and international leadership roles across the energy value chain, including as CEO of BP Angola. Her significant board experience includes service as Chairman of the Board for QEP Resources and as a board member for Wood plc, McDermott International Inc., and Ausenco Limited over the past ten years. Ms. Shafer-Malicki holds a Bachelor
Fourth quarter results top expectations for production Long-term debt further reduced to $1.9 billion Realized reductions in well costs and gains in well productivity to drive 2024 capital efficiency HOUSTON, Feb. 26, 2024 /PRNewswire/ -- Callon Petroleum Company (NYSE:CPE) ("Callon" or the "Company") today reported fourth quarter and full year 2023 financial and operating results. Due to the pending merger (the "Merger") with APA Corporation ("APA"), Callon will not host a conference call or webcast to discuss its fourth quarter and full year 2023 results. Fourth Quarter 2023 Highlights Generated $298.3 million of net cash provided by operating activitiesAdjusted free cash flow of $120.2
Complements and enhances APA's asset base in the Permian Basin; expected to be accretive to key financial metrics;Adds to APA's high-quality, short-cycle development inventory and increases oil mix; andStrengthens APA's position as a leading, diversified independent E&P with pro forma production of more than 500,000 barrels of oil equivalent (BOE) per day and pro forma enterprise value in excess of $21 billion.*HOUSTON, Jan. 4, 2024 /PRNewswire/ -- APA Corporation ("APA" or the "Company") (NASDAQ:APA) and Callon Petroleum Company ("Callon") (NYSE:CPE) have entered into a definitive agreement under which APA will acquire Callon in an all-stock transaction valued at approximately $4.5 billion,
Complements and enhances APA's asset base in the Permian Basin; expected to be accretive to key financial metrics;Adds to APA's high-quality, short-cycle development inventory and increases oil mix; andStrengthens APA's position as a leading, diversified independent E&P with pro forma production of more than 500,000 barrels of oil equivalent (BOE) per day and pro forma enterprise value in excess of $21 billion.* HOUSTON, Jan. 04, 2024 (GLOBE NEWSWIRE) -- APA Corporation ("APA" or the "Company") (NASDAQ:APA) and Callon Petroleum Company ("Callon") (NYSE:CPE) have entered into a definitive agreement under which APA will acquire Callon in an all-stock transaction valued at approximately $4.
HOUSTON, July 18, 2023 /PRNewswire/ -- Callon Petroleum Company (NYSE:CPE) ("Callon" or the "Company") plans to host a conference call to discuss its second quarter 2023 financial and operating results. Webcast: Date: August 3, 2023Time: 8:00 a.m. Central Time (9:00 a.m. Eastern Time) Webcast: www.callon.comSelect "News/Events" under the "Investors" section of the website. An archive of the conference call webcast will be available at www.callon.com under the "Investors" section of the website. The Company plans to release second quarter 2023 results after market close on Wednesday, August 2, 2023. About Callon Petroleum Callon Petroleum Company is an independent oil and natural gas company
Transactions solidify Company's Permian focus and accelerate achievement of debt milestoneCompany to launch $300 million share buyback at closing HOUSTON, May 3, 2023 /PRNewswire/ -- Callon Petroleum Company (NYSE:CPE) ("Callon" or the "Company") today signed two definitive agreements that streamline and focus Callon's operations, accelerate the achievement of its debt reduction target and allow for the initiation of a shareholder return program in the third quarter of 2023. Callon has entered into a definitive agreement to acquire the membership interests of Permian-based Percussion Petroleum Operating II, LLC ("Percussion") in a cash and stock transaction valued at approximately $475 milli
Reported net income of $220.6 million, or $3.57 per diluted shareReported adjusted income of $119.9 million, or $1.94 per diluted share1Q23 production in line with guidance with capital expenditures below guidanceIncreased drilling and completions efficiencies through simultaneous operations on larger projectsDebt moves lower for the eleventh consecutive quarter HOUSTON, May 3, 2023 /PRNewswire/ -- Callon Petroleum Company (NYSE:CPE) ("Callon" or the "Company") today reported first quarter 2023 financial and operating results. A conference call to discuss the results is planned for 8 a.m. CDT, Thursday, May 4. Slides accompanying today's release are available at www.callon.com/investors. Fir
HOUSTON, April 18, 2023 /PRNewswire/ -- Callon Petroleum Company (NYSE:CPE) ("Callon" or the "Company") plans to host a conference call to discuss its first quarter 2023 financial and operating results. Webcast: Date: May 4, 2023Time: 8:00 a.m. Central Time (9:00 a.m. Eastern Time) Webcast: www.callon.comSelect "News/Events" under the "Investors" section of the website. An archive of the conference call webcast will be available at www.callon.com under the "Investors" section of the website. The Company plans to release first quarter 2023 results after market close on Wednesday, May 3, 2023. About Callon Petroleum Callon Petroleum Company is an independent oil and natural gas company focuse
Capital budget implies approximately 60% reinvestment rate, improving capital efficiencies and further debt reduction Company projected to reach key $2 billion debt milestone in 2H23 HOUSTON, Feb. 22, 2023 /PRNewswire/ -- Callon Petroleum Company (NYSE:CPE) ("Callon" or the "Company") today announced its 2023 Outlook in conjunction with the release of its fourth quarter and full-year 2022 financial and operating results. A conference call is planned for 8 a.m. CT, Thursday, February 23, 2023. Slides accompanying today's releases are available at www.callon.com/investors. Highlights 2023 planned capital expenditures of $1 billion, representing a projected reinvestment rate of ~60%12023 produ
FY22 net cash provided by operating activities and net income set Company records Increased full year operating margin by nearly 40% 4Q22 and FY22 capital expenditures and production in-line with guidance HOUSTON, Feb. 22, 2023 /PRNewswire/ -- Callon Petroleum Company (NYSE:CPE) ("Callon" or the "Company") today reported fourth quarter and full year 2022 financial and operating results. In addition, Callon today issued a separate release on its 2023 outlook. Slides accompanying today's releases are available at www.callon.com/investors. 2022 Highlights Set Company records for full-year net cash provided by operating activities of $1.5 billion and adjusted free cash flow of $622.7 millionSet
HOUSTON, Feb. 9, 2023 /PRNewswire/ -- Callon Petroleum Company (NYSE:CPE) ("Callon" or the "Company") plans to host a conference call to discuss its fourth quarter and full year 2022 financial and operating results. Webcast: Date: February 23, 2023Time: 8:00 a.m. Central Time (9:00 a.m. Eastern Time) Webcast: www.callon.comSelect "News/Events" under the "Investors" section of the website. An archive of the conference call webcast will be available at www.callon.com under the "Investors" section of the website. The Company plans to release fourth quarter and full year 2022 results after market close on Wednesday, February 22, 2023. About Callon Petroleum Callon Petroleum Company is an indepen