Callon Petroleum (CPE) Position Reduced by Baker Avenue Asset Management LP

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Baker Avenue Asset Management LP trimmed its position in shares of Callon Petroleum (NYSE:CPE) by 24.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 120,039 shares of the oil and natural gas company’s stock after selling 39,046 shares during the quarter. Baker Avenue Asset Management LP owned about 0.05% of Callon Petroleum worth $779,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. purchased a new stake in Callon Petroleum during the 4th quarter valued at about $73,000. Nisa Investment Advisors LLC boosted its holdings in shares of Callon Petroleum by 968.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 11,695 shares of the oil and natural gas company’s stock valued at $76,000 after acquiring an additional 10,600 shares during the last quarter. MML Investors Services LLC purchased a new stake in shares of Callon Petroleum during the 3rd quarter valued at about $144,000. CWM Advisors LLC purchased a new stake in shares of Callon Petroleum during the 4th quarter valued at about $88,000. Finally, Balasa Dinverno & Foltz LLC purchased a new stake in shares of Callon Petroleum during the 4th quarter valued at about $88,000.

CPE opened at $7.93 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $1.71 billion, a P/E ratio of 9.67, a price-to-earnings-growth ratio of 0.78 and a beta of 1.54. Callon Petroleum has a 12-month low of $5.57 and a 12-month high of $14.65.

A number of analysts have recently issued reports on the stock. TheStreet downgraded shares of Callon Petroleum from a “b-” rating to a “c+” rating in a report on Tuesday, November 27th. Capital One Financial raised shares of Callon Petroleum from an “equal weight” rating to an “overweight” rating in a report on Wednesday, January 9th. Imperial Capital reaffirmed an “outperform” rating and set a $15.00 price target (up previously from $12.00) on shares of Callon Petroleum in a report on Wednesday, February 13th. Stephens assumed coverage on shares of Callon Petroleum in a report on Thursday, December 6th. They set an “overweight” rating and a $14.00 price target on the stock. Finally, Zacks Investment Research raised shares of Callon Petroleum from a “strong sell” rating to a “hold” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $14.29.

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Callon Petroleum Profile

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional onshore, oil, and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2017, its estimated net proved reserves totaled 137.0 million barrel of oil equivalent.

Further Reading: Certificate of Deposit (CD)

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Institutional Ownership by Quarter for Callon Petroleum (NYSE:CPE)

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