Redwood Investments LLC raised its stake in Callon Petroleum Company (NYSE:CPE) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 491,170 shares of the oil and natural gas company’s stock after buying an additional 6,261 shares during the period. Redwood Investments LLC owned 0.24% of Callon Petroleum worth $5,211,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP raised its position in shares of Callon Petroleum by 29.0% in the first quarter. Wellington Management Group LLP now owns 21,117,124 shares of the oil and natural gas company’s stock valued at $277,902,000 after buying an additional 4,749,928 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Callon Petroleum by 4.3% in the first quarter. Vanguard Group Inc. now owns 16,158,249 shares of the oil and natural gas company’s stock valued at $212,642,000 after buying an additional 667,220 shares during the last quarter. FMR LLC raised its position in shares of Callon Petroleum by 15.7% in the first quarter. FMR LLC now owns 15,197,267 shares of the oil and natural gas company’s stock valued at $199,996,000 after buying an additional 2,067,650 shares during the last quarter. BlackRock Inc. raised its position in shares of Callon Petroleum by 96,684.2% in the first quarter. BlackRock Inc. now owns 12,101,893 shares of the oil and natural gas company’s stock valued at $159,259,000 after buying an additional 12,089,389 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Callon Petroleum by 56.3% in the first quarter. Goldman Sachs Group Inc. now owns 7,333,603 shares of the oil and natural gas company’s stock valued at $96,510,000 after buying an additional 2,642,192 shares during the last quarter.
Shares of Callon Petroleum Company (CPE) opened at 10.16 on Tuesday. The company has a market cap of $2.05 billion, a PE ratio of 19.35 and a beta of 1.44. The firm’s 50-day moving average is $10.68 and its 200-day moving average is $11.81. Callon Petroleum Company has a 1-year low of $9.63 and a 1-year high of $18.53.
Callon Petroleum (NYSE:CPE) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.02. Callon Petroleum had a net margin of 34.61% and a return on equity of 4.16%. The firm had revenue of $82.30 million during the quarter, compared to analyst estimates of $83.89 million. During the same period in the prior year, the company posted ($0.61) earnings per share. The firm’s revenue for the quarter was up 82.5% compared to the same quarter last year. On average, equities analysts forecast that Callon Petroleum Company will post $0.51 earnings per share for the current fiscal year.
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Several research analysts recently issued reports on CPE shares. Seaport Global Securities lowered shares of Callon Petroleum from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $19.00 to $10.00 in a research note on Wednesday, June 21st. Citigroup Inc. decreased their price target on shares of Callon Petroleum from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Royal Bank Of Canada set a $20.00 price target on shares of Callon Petroleum and gave the stock a “buy” rating in a research note on Tuesday, April 25th. BMO Capital Markets set a $16.00 price target on shares of Callon Petroleum and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. Finally, Zacks Investment Research lowered shares of Callon Petroleum from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Callon Petroleum has an average rating of “Buy” and an average price target of $17.71.
Callon Petroleum Company Profile
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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