Callon Petroleum Co. (NYSE:CPE) shares traded down 3.1% on Wednesday . The stock traded as low as $11.80 and last traded at $11.93, with a volume of 2,573,577 shares changing hands. The stock had previously closed at $12.31.

Several research analysts have recently weighed in on the stock. Iberia Capital boosted their price objective on shares of Callon Petroleum from $10.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, April 28th. Zacks Investment Research raised shares of Callon Petroleum from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Monday, April 25th. Canaccord Genuity reissued a “buy” rating and set a $13.00 price objective on shares of Callon Petroleum in a report on Thursday, May 5th. FBR & Co reissued a “buy” rating on shares of Callon Petroleum in a report on Thursday, May 5th. Finally, Citigroup Inc. assumed coverage on shares of Callon Petroleum in a report on Wednesday, June 29th. They set a “neutral” rating and a $12.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Callon Petroleum currently has a consensus rating of “Buy” and an average target price of $12.33.

The stock’s market cap is $1.44 billion. The firm’s 50 day moving average is $11.61 and its 200 day moving average is $9.02.

Several institutional investors have recently bought and sold shares of CPE. Systematic Financial Management LP raised its position in Callon Petroleum by 51.2% in the fourth quarter. Systematic Financial Management LP now owns 1,654,725 shares of the company’s stock valued at $13,800,000 after buying an additional 560,270 shares during the period. Marshall Wace LLP raised its position in Callon Petroleum by 283.6% in the fourth quarter. Marshall Wace LLP now owns 175,728 shares of the company’s stock valued at $1,466,000 after buying an additional 129,923 shares during the period. UBS Oconnor LLC raised its position in Callon Petroleum by 1.8% in the fourth quarter. UBS Oconnor LLC now owns 875,419 shares of the company’s stock valued at $7,301,000 after buying an additional 15,273 shares during the period. Monarch Partners Asset Management LLC purchased a new position in Callon Petroleum during the fourth quarter valued at $5,414,000. Finally, Telemark Asset Management LLC purchased a new position in Callon Petroleum during the fourth quarter valued at $3,336,000.

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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