Emerald Advisers Inc. PA acquired a new stake in shares of Callon Petroleum Co. (NYSE:CPE) during the second quarter, Holdings Channel reports. The institutional investor acquired 779,573 shares of the company’s stock, valued at approximately $8,755,000.
Several other large investors have also recently added to or reduced their stakes in CPE. Legal & General Group Plc increased its stake in Callon Petroleum by 13.1% in the first quarter. Legal & General Group Plc now owns 12,043 shares of the company’s stock valued at $106,000 after buying an additional 1,395 shares during the period. Capital Fund Management S.A. purchased a new stake in Callon Petroleum during the second quarter valued at $116,000. Genesee Valley Trust Co. purchased a new stake in Callon Petroleum during the second quarter valued at $119,000. IBM Retirement Fund purchased a new stake in Callon Petroleum during the second quarter valued at $129,000. Finally, Boothbay Fund Management LLC purchased a new stake in Callon Petroleum during the first quarter valued at $142,000. 83.09% of the stock is currently owned by institutional investors.
Callon Petroleum Co. (NYSE:CPE) traded down 0.13% during trading on Thursday, reaching $15.65. The company’s stock had a trading volume of 3,282,117 shares. Callon Petroleum Co. has a one year low of $4.21 and a one year high of $16.03. The company has a 50-day moving average of $14.66 and a 200 day moving average of $11.85. The firm’s market cap is $2.05 billion.
Callon Petroleum (NYSE:CPE) last posted its earnings results on Monday, August 8th. The company reported ($0.61) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.65. The firm had revenue of $45.14 million for the quarter, compared to analysts’ expectations of $47.75 million. Callon Petroleum had a positive return on equity of 3.77% and a negative net margin of 233.91%. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.11) earnings per share. Analysts expect that Callon Petroleum Co. will post $0.26 EPS for the current fiscal year.
Several research firms recently weighed in on CPE. Citigroup Inc. raised their price objective on Callon Petroleum from $12.50 to $14.00 and gave the company a “neutral” rating in a report on Thursday, August 11th. Imperial Capital reissued an “outperform” rating and set a $16.00 price objective (up previously from $14.00) on shares of Callon Petroleum in a report on Wednesday, August 10th. Canaccord Genuity raised their price objective on Callon Petroleum from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, September 8th. FBR & Co raised their price objective on Callon Petroleum from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, August 10th. Finally, Evercore ISI began coverage on Callon Petroleum in a report on Wednesday, September 28th. They set a “buy” rating and a $20.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $15.36.
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. It focuses on unconventional, onshore, oil and natural gas reserves in the Permian Basin in West Texas and the Midland Basin.
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