Callon Petroleum Company (CPE) Position Raised by Baker Avenue Asset Management LP
Baker Avenue Asset Management LP boosted its stake in Callon Petroleum Company (NYSE:CPE) by 180.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 96,710 shares of the oil and natural gas company’s stock after purchasing an additional 62,210 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Callon Petroleum were worth $1,026,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Callon Petroleum by 86.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,389 shares of the oil and natural gas company’s stock valued at $110,000 after purchasing an additional 3,896 shares during the period. FFT Wealth Management LLC purchased a new stake in Callon Petroleum in the second quarter valued at approximately $113,000. Strs Ohio grew its holdings in Callon Petroleum by 6.5% in the first quarter. Strs Ohio now owns 9,800 shares of the oil and natural gas company’s stock valued at $128,000 after purchasing an additional 600 shares during the period. Green Square Capital LLC purchased a new stake in Callon Petroleum in the first quarter valued at approximately $132,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Callon Petroleum in the first quarter valued at approximately $143,000.
A number of equities research analysts recently issued reports on the stock. ValuEngine upgraded shares of Callon Petroleum from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Credit Suisse Group restated an “outperform” rating and issued a $18.00 target price on shares of Callon Petroleum in a report on Friday, June 2nd. BidaskClub upgraded shares of Callon Petroleum from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Royal Bank Of Canada set a $20.00 target price on shares of Callon Petroleum and gave the company a “buy” rating in a report on Saturday, June 3rd. Finally, Zacks Investment Research upgraded shares of Callon Petroleum from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have issued a buy rating to the company’s stock. Callon Petroleum has a consensus rating of “Buy” and a consensus price target of $17.54.
Callon Petroleum Company (NYSE:CPE) opened at 11.07 on Monday. The firm has a market capitalization of $2.23 billion, a PE ratio of 21.09 and a beta of 1.44. The stock’s 50 day moving average is $10.35 and its 200-day moving average is $11.30. Callon Petroleum Company has a 52-week low of $9.34 and a 52-week high of $18.53.
Callon Petroleum (NYSE:CPE) last released its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). Callon Petroleum had a return on equity of 4.16% and a net margin of 34.61%. The firm had revenue of $82.30 million during the quarter, compared to analyst estimates of $83.89 million. During the same quarter in the prior year, the company posted ($0.61) EPS. The company’s quarterly revenue was up 82.5% on a year-over-year basis. Equities analysts expect that Callon Petroleum Company will post $0.50 earnings per share for the current year.
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About Callon Petroleum
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. The Company focuses on the acquisition and development of unconventional oil and natural gas reserves in the Permian Basin.
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