Shares of Callon Petroleum Co. (NYSE:CPE) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $12.57 and last traded at $12.44, with a volume of 2,222,648 shares. The stock had previously closed at $12.01.

CPE has been the subject of several recent research reports. Imperial Capital lifted their price objective on Callon Petroleum from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, April 22nd. Zacks Investment Research cut Callon Petroleum from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Howard Weil upgraded Callon Petroleum from a “sector outperform” rating to a “focus stock” rating in a research note on Monday, May 16th. Scotiabank upgraded Callon Petroleum to an “outperform” rating and set a $16.00 price objective for the company in a research note on Tuesday, May 17th. Finally, Iberia Capital lifted their price objective on Callon Petroleum from $10.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, April 28th. One 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 issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $12.36.

The firm has a 50-day moving average price of $11.45 and a 200 day moving average price of $9.48. The firm’s market cap is $1.51 billion.

Other hedge funds have made changes to their positions in the company. Systematic Financial Management LP boosted its stake in shares of Callon Petroleum by 51.2% in the fourth quarter. Systematic Financial Management LP now owns 1,654,725 shares of the company’s stock worth $13,800,000 after buying an additional 560,270 shares during the last quarter. Marshall Wace LLP raised its stake in 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 during the period. UBS Oconnor LLC raised its position 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 during the last quarter. Wells Fargo & Company MN raised its position in shares of Callon Petroleum by 324.4% in the fourth quarter. Wells Fargo & Company MN now owns 1,115,392 shares of the company’s stock worth $9,302,000 after buying an additional 852,602 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position 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 during 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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