NGAM Advisors L.P. lowered its stake in Callon Petroleum Company (NYSE:CPE) by 21.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 274,923 shares of the oil and natural gas company’s stock after selling 74,946 shares during the period. NGAM Advisors L.P.’s holdings in Callon Petroleum were worth $2,917,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Callon Petroleum by 86.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,389 shares of the oil and natural gas company’s stock valued at $110,000 after buying an additional 3,896 shares during the period. Strs Ohio raised its stake in Callon Petroleum by 6.5% in the first quarter. Strs Ohio now owns 9,800 shares of the oil and natural gas company’s stock valued at $128,000 after buying an additional 600 shares during the period. Green Square Capital LLC bought a new stake in Callon Petroleum during the first quarter valued at approximately $132,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Callon Petroleum during the first quarter valued at approximately $143,000. Finally, M&T Bank Corp raised its stake in Callon Petroleum by 20.5% in the first quarter. M&T Bank Corp now owns 12,946 shares of the oil and natural gas company’s stock valued at $170,000 after buying an additional 2,203 shares during the period.
Callon Petroleum Company (CPE) opened at 10.48 on Friday. The stock has a market cap of $2.12 billion, a P/E ratio of 19.96 and a beta of 1.44. Callon Petroleum Company has a 12 month low of $9.63 and a 12 month high of $18.53. The company’s 50-day moving average price is $10.72 and its 200-day moving average price is $12.11.
Callon Petroleum (NYSE:CPE) last released its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $82.30 million during the quarter, compared to analyst estimates of $83.89 million. Callon Petroleum had a return on equity of 4.16% and a net margin of 34.61%. The business’s revenue was up 82.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.61) EPS. Equities analysts forecast that Callon Petroleum Company will post $0.53 earnings per share for the current year.
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Several analysts recently commented on CPE shares. Roth Capital set a $23.00 target price on Callon Petroleum and gave the stock a “buy” rating in a report on Friday, May 26th. Scotiabank reissued a “buy” rating and issued a $18.00 price objective on shares of Callon Petroleum in a report on Monday, May 15th. BMO Capital Markets set a $16.00 price objective on Callon Petroleum and gave the company a “buy” rating in a report on Tuesday, May 2nd. Echelon Wealth Partners raised Callon Petroleum to a “buy” rating and set a $17.00 price objective on the stock in a report on Thursday, April 13th. Finally, EuroPacific Canada raised Callon Petroleum from a “neutral” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Thursday, April 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Callon Petroleum currently has a consensus rating of “Buy” and a consensus price target of $17.72.
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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