Baker Avenue Asset Management LP grew its position in Callon Petroleum (NYSE:CPE) by 9.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,975 shares of the oil and natural gas company’s stock after buying an additional 11,437 shares during the quarter. Baker Avenue Asset Management LP owned 0.07% of Callon Petroleum worth $1,664,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in CPE. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Callon Petroleum in the second quarter valued at $133,000. Nationwide Fund Advisors increased its position in shares of Callon Petroleum by 97.7% in the third quarter. Nationwide Fund Advisors now owns 575,411 shares of the oil and natural gas company’s stock valued at $6,468,000 after buying an additional 284,393 shares in the last quarter. Aperio Group LLC increased its position in shares of Callon Petroleum by 30.2% in the third quarter. Aperio Group LLC now owns 71,793 shares of the oil and natural gas company’s stock valued at $807,000 after buying an additional 16,652 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Callon Petroleum in the third quarter valued at $142,000. Finally, Prudential Financial Inc. increased its position in shares of Callon Petroleum by 534.7% in the third quarter. Prudential Financial Inc. now owns 122,915 shares of the oil and natural gas company’s stock valued at $1,382,000 after buying an additional 103,550 shares in the last quarter.
CPE traded down $0.51 during midday trading on Monday, hitting $12.73. The company’s stock had a trading volume of 4,888,974 shares, compared to its average volume of 4,347,913. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $2,673.68, a price-to-earnings ratio of 30.31 and a beta of 1.18. Callon Petroleum has a 52-week low of $9.34 and a 52-week high of $13.92.
Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results on Tuesday, February 27th. The oil and natural gas company reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. The company had revenue of $118.21 million during the quarter, compared to analysts’ expectations of $109.95 million. Callon Petroleum had a return on equity of 5.02% and a net margin of 32.86%. equities research analysts anticipate that Callon Petroleum will post 0.87 earnings per share for the current year.
A number of 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 objective for the company. Northland Securities set a $16.00 price objective on Callon Petroleum and gave the stock a “buy” rating in a research report on Monday, December 11th. Piper Jaffray started coverage on Callon Petroleum in a research report on Thursday, January 4th. They set an “overweight” rating and a $15.00 price objective for the company. Citigroup cut Callon Petroleum from a “buy” rating to a “neutral” rating and set a $13.00 price objective for the company. in a research report on Wednesday, January 3rd. Finally, Zacks Investment Research cut Callon Petroleum from a “hold” rating to a “sell” rating in a research report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the stock. Callon Petroleum has an average rating of “Buy” and a consensus price target of $16.41.
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About Callon Petroleum
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.
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