Moody Aldrich Partners LLC bought a new position in shares of Callon Petroleum (NYSE:CPE) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 211,470 shares of the oil and natural gas company’s stock, valued at approximately $2,271,000. Moody Aldrich Partners LLC owned 0.09% of Callon Petroleum as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of CPE. Bank of New York Mellon Corp boosted its holdings in Callon Petroleum by 21.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,187,203 shares of the oil and natural gas company’s stock worth $66,452,000 after acquiring an additional 1,095,098 shares during the period. Green Square Capital LLC purchased a new position in shares of Callon Petroleum during the 2nd quarter valued at approximately $189,000. Glenmede Trust Co. NA boosted its stake in shares of Callon Petroleum by 54.2% during the 2nd quarter. Glenmede Trust Co. NA now owns 5,543,836 shares of the oil and natural gas company’s stock valued at $59,541,000 after buying an additional 1,949,736 shares during the last quarter. Phocas Financial Corp. boosted its stake in shares of Callon Petroleum by 31.2% during the 2nd quarter. Phocas Financial Corp. now owns 1,480,958 shares of the oil and natural gas company’s stock valued at $15,905,000 after buying an additional 352,235 shares during the last quarter. Finally, HPM Partners LLC purchased a new position in shares of Callon Petroleum during the 2nd quarter valued at approximately $161,000.
In other news, VP Mitzi P. Conn sold 15,000 shares of the firm’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $11.76, for a total transaction of $176,400.00. Following the transaction, the vice president now directly owns 42,062 shares of the company’s stock, valued at $494,649.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.63% of the stock is currently owned by company insiders.
Several research firms have recently commented on CPE. Oppenheimer began coverage on Callon Petroleum in a research note on Wednesday, October 3rd. They set an “outperform” rating and a $16.00 target price for the company. TheStreet upgraded Callon Petroleum from a “c+” rating to a “b-” rating in a research note on Monday, September 17th. ValuEngine upgraded Callon Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, September 13th. Barclays began coverage on Callon Petroleum in a research note on Wednesday, August 29th. They set an “overweight” rating and a $14.00 target price for the company. Finally, KLR Group reiterated a “buy” rating and set a $16.00 target price on shares of Callon Petroleum in a research note on Monday, August 20th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $16.11.
Shares of CPE stock traded up $0.32 on Friday, hitting $12.41. 5,520,877 shares of the stock traded hands, compared to its average volume of 4,896,954. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 0.44. The firm has a market cap of $2.73 billion, a P/E ratio of 29.55 and a beta of 1.02. Callon Petroleum has a 1-year low of $9.75 and a 1-year high of $14.65.
Callon Petroleum (NYSE:CPE) last issued its earnings results on Monday, August 6th. The oil and natural gas company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.01). The company had revenue of $137.10 million during the quarter, compared to analyst estimates of $133.66 million. Callon Petroleum had a return on equity of 7.25% and a net margin of 31.27%. Callon Petroleum’s quarterly revenue was up 66.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 earnings per share. On average, research analysts forecast that Callon Petroleum will post 0.86 EPS for the current fiscal year.
Callon Petroleum Company 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.
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