BlackRock Advisors LLC increased its stake in shares of Callon Petroleum Co. (NYSE:CPE) by 7.5% during the second quarter, Holdings Channel reports. The institutional investor owned 679,962 shares of the company’s stock after buying an additional 47,236 shares during the period. BlackRock Advisors LLC owned approximately 0.56% of Callon Petroleum worth $7,636,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of CPE. Marathon Capital Management bought a new position in Callon Petroleum during the second quarter valued at approximately $393,000. Virginia Retirement Systems ET AL bought a new position in Callon Petroleum during the second quarter valued at approximately $1,567,000. Vanguard Group Inc. boosted its position in Callon Petroleum by 25.2% in the second quarter. Vanguard Group Inc. now owns 5,273,827 shares of the company’s stock valued at $59,224,000 after buying an additional 1,062,889 shares in the last quarter. Principal Financial Group Inc. boosted its position in Callon Petroleum by 6,324.5% in the second quarter. Principal Financial Group Inc. now owns 724,108 shares of the company’s stock valued at $8,131,000 after buying an additional 712,837 shares in the last quarter. Finally, Prudential Financial Inc. bought a new position in Callon Petroleum during the second quarter valued at approximately $140,000. Institutional investors and hedge funds own 83.09% of the company’s stock.
Shares of Callon Petroleum Co. (NYSE:CPE) opened at 15.80 on Thursday. The firm has a 50-day moving average of $14.89 and a 200 day moving average of $12.09. The firm’s market cap is $2.07 billion. Callon Petroleum Co. has a 52 week low of $4.21 and a 52 week high of $16.36.
Callon Petroleum (NYSE:CPE) last announced its earnings results on Monday, August 8th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by $0.65. The company had revenue of $45.14 million for the quarter, compared to analyst estimates of $47.75 million. Callon Petroleum had a negative net margin of 233.91% and a positive return on equity of 3.77%. Callon Petroleum’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.11) EPS. Equities research analysts predict that Callon Petroleum Co. will post $0.26 EPS for the current fiscal year.
Several research firms have recently commented on CPE. Zacks Investment Research cut shares of Callon Petroleum from a “buy” rating to a “hold” rating in a report on Tuesday. Mizuho started coverage on shares of Callon Petroleum in a report on Wednesday, October 5th. They issued a “neutral” rating and a $16.00 price objective for the company. Imperial Capital upped their price objective on shares of Callon Petroleum from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, September 30th. Evercore ISI began coverage on shares of Callon Petroleum in a report on Wednesday, September 28th. They issued a “buy” rating and a $20.00 price objective for the company. Finally, BMO Capital Markets began coverage on shares of Callon Petroleum in a report on Thursday, September 22nd. They set an “outperform” rating and a $20.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $15.58.
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. It focuses on unconventional, onshore, oil and natural gas reserves in the Permian Basin in West Texas and the Midland Basin.
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