Pitcairn Co. increased its stake in shares of Callon Petroleum Company (NYSE:CPE) by 8.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,336 shares of the oil and natural gas company’s stock after buying an additional 1,523 shares during the period. Pitcairn Co.’s holdings in Callon Petroleum were worth $205,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Rhumbline Advisers increased its stake in Callon Petroleum by 16.0% in the second quarter. Rhumbline Advisers now owns 250,714 shares of the oil and natural gas company’s stock valued at $2,660,000 after buying an additional 34,532 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Callon Petroleum by 2.0% in the second quarter. Teacher Retirement System of Texas now owns 16,367 shares of the oil and natural gas company’s stock valued at $174,000 after buying an additional 317 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in Callon Petroleum by 21.4% in the second quarter. Wedge Capital Management L L P NC now owns 1,863,283 shares of the oil and natural gas company’s stock valued at $19,769,000 after buying an additional 328,237 shares during the last quarter. Monarch Partners Asset Management LLC increased its stake in Callon Petroleum by 8.8% in the second quarter. Monarch Partners Asset Management LLC now owns 1,241,957 shares of the oil and natural gas company’s stock valued at $13,177,000 after buying an additional 100,790 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Callon Petroleum by 5.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 882,887 shares of the oil and natural gas company’s stock valued at $9,368,000 after buying an additional 49,245 shares during the last quarter.
Callon Petroleum Company (NYSE:CPE) opened at 10.16 on Friday. The company has a market cap of $2.05 billion, a PE ratio of 19.35 and a beta of 1.44. Callon Petroleum Company has a 52-week low of $9.63 and a 52-week high of $18.53. The firm’s 50-day moving average price is $10.69 and its 200 day moving average price is $11.89.
Callon Petroleum (NYSE:CPE) last released its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by $0.02. Callon Petroleum had a net margin of 34.61% and a return on equity of 4.16%. The company had revenue of $82.30 million for the quarter, compared to the consensus estimate of $83.89 million. During the same quarter in the previous year, the firm posted ($0.61) earnings per share. The business’s revenue for the quarter was up 82.5% compared to the same quarter last year. On average, equities analysts predict that Callon Petroleum Company will post $0.51 EPS for the current fiscal year.
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Several equities research analysts have recently commented on the company. Imperial Capital assumed coverage on Callon Petroleum in a report on Tuesday. They issued an “outperform” rating and a $16.00 price objective for the company. BidaskClub downgraded Callon Petroleum from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Zacks Investment Research raised Callon Petroleum from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Citigroup Inc. cut their price objective on Callon Petroleum from $15.00 to $14.00 and set a “buy” rating for the company in a report on Friday, July 21st. Finally, Northland Securities set a $18.00 price objective on Callon Petroleum and gave the company a “buy” rating in a report on Monday, July 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty have issued a buy rating to the company’s stock. Callon Petroleum has an average rating of “Buy” and an average price target of $17.71.
About Callon Petroleum
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.
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