Callon Petroleum Co. (NYSE:CPE) rose 5.4% during trading on Wednesday . The stock traded as high as $11.34 and last traded at $11.29, with a volume of 3,086,664 shares trading hands. The stock had previously closed at $10.71.

Several equities research analysts have recently issued reports on CPE shares. Zacks Investment Research upgraded shares of Callon Petroleum from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Tuesday, April 12th. Stephens decreased their price target on shares of Callon Petroleum from $11.00 to $9.00 and set an “overweight” rating for the company in a research note on Monday, April 18th. Wunderlich decreased their price target on shares of Callon Petroleum from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, April 20th. Imperial Capital raised their price target on shares of Callon Petroleum from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, April 22nd. Finally, Canaccord Genuity restated a “buy” rating on shares of Callon Petroleum in a research note on Monday, April 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Callon Petroleum currently has an average rating of “Buy” and a consensus price target of $12.36.

The firm has a 50 day moving average of $11.44 and a 200-day moving average of $9.45. The firm’s market capitalization is $1.39 billion.

Other hedge funds have made changes to their positions in the company. UBS Oconnor LLC boosted its stake in shares of Callon Petroleum by 1.8% in the fourth quarter. UBS Oconnor LLC now owns 875,419 shares of the company’s stock worth $7,301,000 after buying an additional 15,273 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Callon Petroleum by 23.8% in the fourth quarter. California State Teachers Retirement System now owns 148,473 shares of the company’s stock worth $1,238,000 after buying an additional 28,568 shares in the last quarter. Russell Frank Co boosted its stake in shares of Callon Petroleum by 27.1% in the fourth quarter. Russell Frank Co now owns 421,568 shares of the company’s stock worth $3,338,000 after buying an additional 89,846 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Callon Petroleum by 283.6% in the fourth quarter. Marshall Wace LLP now owns 175,728 shares of the company’s stock worth $1,466,000 after buying an additional 129,923 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of 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 worth $9,417,000 after buying an additional 148,980 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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