Wedge Capital Management L L P NC purchased a new position in Callon Petroleum Co. (NYSE:CPE) during the second quarter, Holdings Channel reports. The fund purchased 1,077,872 shares of the company’s stock, valued at approximately $12,105,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Teachers Advisors Inc. boosted its position in Callon Petroleum by 14.7% in the first quarter. Teachers Advisors Inc. now owns 1,539,780 shares of the company’s stock worth $13,627,000 after buying an additional 197,700 shares during the last quarter. Franklin Resources Inc. boosted its position in Callon Petroleum by 12.4% in the first quarter. Franklin Resources Inc. now owns 4,717,958 shares of the company’s stock worth $41,754,000 after buying an additional 521,111 shares during the last quarter. BlackRock Fund Advisors boosted its position in Callon Petroleum by 17.1% in the first quarter. BlackRock Fund Advisors now owns 2,456,320 shares of the company’s stock worth $21,738,000 after buying an additional 358,241 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Callon Petroleum by 25.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,389,730 shares of the company’s stock worth $21,149,000 after buying an additional 485,848 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Callon Petroleum by 2.7% in the first quarter. JPMorgan Chase & Co. now owns 1,272,170 shares of the company’s stock valued at $11,258,000 after buying an additional 33,575 shares during the last quarter. Hedge funds and other institutional investors own 83.09% of the company’s stock.
Shares of Callon Petroleum Co. (NYSE:CPE) traded down 1.43% during midday trading on Friday, hitting $15.20. 3,521,463 shares of the stock were exchanged. The firm has a 50 day moving average of $14.95 and a 200-day moving average of $12.16. The company’s market cap is $1.99 billion. Callon Petroleum Co. has a one year low of $4.21 and a one year high of $16.36.
Callon Petroleum (NYSE:CPE) last released its earnings results on Monday, August 8th. The company reported ($0.61) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.65. Callon Petroleum had a positive return on equity of 3.77% and a negative net margin of 233.91%. The business had revenue of $45.14 million for the quarter, compared to analysts’ expectations of $47.75 million. During the same quarter last year, the company posted ($0.11) earnings per share. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. Equities analysts expect that Callon Petroleum Co. will post $0.26 EPS for the current year.
Several brokerages have issued reports on CPE. Zacks Investment Research cut shares of Callon Petroleum from a “buy” rating to a “hold” rating in a report on Tuesday, October 11th. Mizuho began coverage on shares of Callon Petroleum in a report on Wednesday, October 5th. They set a “neutral” rating and a $16.00 target price on the stock. FBR & Co increased their target price on shares of Callon Petroleum from $17.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, September 9th. Canaccord Genuity increased their target price on shares of Callon Petroleum from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, September 8th. Finally, Royal Bank Of Canada upgraded shares of Callon Petroleum from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $15.00 to $18.00 in a report on Thursday, September 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Callon Petroleum has a consensus rating of “Buy” and a consensus target price of $15.58.
Callon Petroleum Company Profile
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.
Want to see what other hedge funds are holding CPE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Callon Petroleum Co. (NYSE:CPE).
Receive News & Ratings for Callon Petroleum Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callon Petroleum Co. and related companies with MarketBeat.com's FREE daily email newsletter.