Franklin Resources Inc. cut its stake in shares of Callon Petroleum (NYSE:CPE) by 3.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 873,820 shares of the oil and natural gas company’s stock after selling 34,800 shares during the period. Franklin Resources Inc. owned approximately 0.43% of Callon Petroleum worth $10,617,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in CPE. Zions Bancorporation acquired a new position in Callon Petroleum during the 3rd quarter worth approximately $105,000. BB&T Securities LLC acquired a new position in Callon Petroleum during the 3rd quarter worth approximately $112,000. Teachers Retirement System of The State of Kentucky acquired a new position in Callon Petroleum during the 3rd quarter worth approximately $141,000. Crossmark Global Holdings Inc. acquired a new position in Callon Petroleum during the 3rd quarter worth approximately $142,000. Finally, Virtu Financial LLC acquired a new position in Callon Petroleum during the 4th quarter worth approximately $151,000.
Shares of Callon Petroleum (CPE) opened at $12.03 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.33. Callon Petroleum has a twelve month low of $9.34 and a twelve month high of $13.92. The stock has a market capitalization of $2,429.33, a P/E ratio of 27.98 and a beta of 1.19.
Several equities analysts recently commented on CPE shares. Credit Suisse Group started coverage on Callon Petroleum in a research report on Monday, December 11th. They set a “neutral” rating and a $12.00 price target on the stock. Northland Securities set a $16.00 price target on Callon Petroleum and gave the stock a “buy” rating in a research report on Monday, December 11th. Piper Jaffray Companies started coverage on Callon Petroleum in a research report on Thursday, January 4th. They set an “overweight” rating and a $15.00 price target on the stock. Citigroup lowered Callon Petroleum from a “buy” rating to a “neutral” rating and set a $13.00 price target on the stock. in a research report on Wednesday, January 3rd. Finally, Zacks Investment Research lowered Callon Petroleum from a “hold” rating to a “sell” rating in a research report on Monday, February 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $16.45.
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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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