Callon Petroleum Co. (NYSE:CPE) shares fell 3.4% during mid-day trading on Thursday . The company traded as low as $11.46 and last traded at $11.47, with a volume of 1,146,169 shares traded. The stock had previously closed at $11.87.

A number of brokerages have issued reports on CPE. Iberia Capital boosted their price target on Callon Petroleum from $10.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, April 28th. Zacks Investment Research upgraded 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 restated a “buy” rating and issued a $13.00 price objective on shares of Callon Petroleum in a report on Thursday, May 5th. FBR & Co restated a “buy” rating on shares of Callon Petroleum in a report on Thursday, May 5th. Finally, Howard Weil upgraded Callon Petroleum from a “sector outperform” rating to a “focus stock” rating in a report on Monday, May 16th. 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 assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $12.36.

The firm has a 50-day moving average of $11.64 and a 200 day moving average of $9.19. The stock’s market cap is $1.37 billion.

Several hedge funds and institutional investors recently bought and sold shares of the company. Russell Frank Co raised its position in Callon Petroleum by 27.1% in the fourth quarter. Russell Frank Co now owns 421,568 shares of the company’s stock valued at $3,338,000 after buying an additional 89,846 shares in the last quarter. Monarch Partners Asset Management LLC bought a new position in Callon Petroleum during the fourth quarter valued at about $5,414,000. 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 in the last quarter. New York State Common Retirement Fund raised its position in Callon Petroleum by 15.2% in the fourth quarter. New York State Common Retirement Fund now owns 1,129,085 shares of the company’s stock valued at $9,417,000 after buying an additional 148,980 shares in the last quarter. Finally, 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 in the last quarter.

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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