Tributary Capital Management LLC cut its holdings in Callon Petroleum (NYSE:CPE) by 4.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,485,264 shares of the oil and natural gas company’s stock after selling 72,495 shares during the quarter. Callon Petroleum comprises 1.4% of Tributary Capital Management LLC’s holdings, making the stock its 25th largest position. Tributary Capital Management LLC owned 0.65% of Callon Petroleum worth $17,808,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CPE. First Hawaiian Bank acquired a new position in shares of Callon Petroleum in the third quarter valued at about $107,000. Prospera Financial Services Inc acquired a new position in shares of Callon Petroleum in the second quarter valued at about $113,000. Marietta Investment Partners LLC acquired a new position in shares of Callon Petroleum in the second quarter valued at about $153,000. HPM Partners LLC acquired a new position in shares of Callon Petroleum in the second quarter valued at about $161,000. Finally, Cerebellum GP LLC acquired a new position in shares of Callon Petroleum in the second quarter valued at about $174,000.

Callon Petroleum stock opened at $11.89 on Friday. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 0.44. Callon Petroleum has a 52 week low of $9.75 and a 52 week high of $14.65. The stock has a market cap of $2.77 billion, a P/E ratio of 28.31 and a beta of 1.02.

Callon Petroleum (NYSE:CPE) last issued its quarterly earnings data on Monday, August 6th. The oil and natural gas company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). Callon Petroleum had a net margin of 31.27% and a return on equity of 7.25%. The business had revenue of $137.10 million during the quarter, compared to analyst estimates of $133.66 million. During the same period in the previous year, the business posted $0.09 earnings per share. The firm’s revenue for the quarter was up 66.6% on a year-over-year basis. Research analysts anticipate that Callon Petroleum will post 0.87 earnings per share for the current fiscal year.

In other Callon Petroleum news, VP Mitzi P. Conn sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $11.76, for a total value of $176,400.00. Following the sale, the vice president now directly owns 42,062 shares of the company’s stock, valued at $494,649.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.82% of the stock is currently owned by company insiders.

A number of research analysts have recently weighed in on the company. ValuEngine lowered Callon Petroleum from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. TheStreet raised Callon Petroleum from a “c+” rating to a “b-” rating in a report on Monday, September 17th. Zacks Investment Research lowered Callon Petroleum from a “buy” rating to a “hold” rating in a report on Thursday, July 19th. KLR Group reissued a “buy” rating and issued a $16.00 price objective on shares of Callon Petroleum in a report on Monday, August 20th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $20.00 price objective on shares of Callon Petroleum in a report on Sunday, August 12th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $16.11.

About Callon Petroleum

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional onshore, oil, and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2017, its estimated net proved reserves totaled 137.0 million barrel of oil equivalent.

See Also: Price to Earnings Ratio (PE) Basics

Institutional Ownership by Quarter for Callon Petroleum (NYSE:CPE)

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