Callon Petroleum (NYSE:CPE) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 47,185,843 shares, a growth of 19.4% from the September 28th total of 39,519,232 shares. Based on an average trading volume of 4,197,161 shares, the short-interest ratio is currently 11.2 days. Approximately 20.9% of the company’s shares are sold short.

Several research firms have recently issued reports on CPE. ValuEngine downgraded shares of Callon Petroleum from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Williams Capital began coverage on shares of Callon Petroleum in a research note on Wednesday, October 24th. They set a “buy” rating and a $16.00 price target for the company. Zacks Investment Research raised shares of Callon Petroleum from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Tuesday, October 23rd. TheStreet raised shares of Callon Petroleum from a “c+” rating to a “b-” rating in a research note on Monday, September 17th. Finally, KLR Group reaffirmed a “buy” rating and set a $16.00 price target on shares of Callon Petroleum in a research note on Monday, August 20th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $16.15.

Shares of NYSE CPE opened at $10.13 on Monday. Callon Petroleum has a twelve month low of $9.75 and a twelve month high of $14.65. The firm has a market cap of $2.31 billion, a P/E ratio of 24.12 and a beta of 1.02. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.44.

Callon Petroleum (NYSE:CPE) last announced its earnings results on Monday, August 6th. The oil and natural gas company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Callon Petroleum had a return on equity of 7.25% and a net margin of 31.27%. The firm had revenue of $137.10 million for the quarter, compared to the consensus estimate of $133.66 million. During the same period in the prior year, the business earned $0.09 EPS. Callon Petroleum’s quarterly revenue was up 66.6% on a year-over-year basis. On average, research analysts predict that Callon Petroleum will post 0.86 EPS for the current fiscal year.

In other news, VP Mitzi P. Conn sold 15,000 shares of the firm’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $11.76, for a total transaction of $176,400.00. Following the completion of the transaction, the vice president now owns 42,062 shares of the company’s stock, valued at $494,649.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.82% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Hawaiian Bank bought a new stake in Callon Petroleum in the third quarter valued at $107,000. Prospera Financial Services Inc bought a new stake in Callon Petroleum in the second quarter valued at $113,000. Strs Ohio increased its stake in Callon Petroleum by 139.0% in the third quarter. Strs Ohio now owns 9,800 shares of the oil and natural gas company’s stock valued at $117,000 after purchasing an additional 5,700 shares in the last quarter. Marietta Investment Partners LLC bought a new stake in Callon Petroleum in the second quarter valued at $153,000. Finally, HPM Partners LLC bought a new stake in Callon Petroleum in the second quarter valued at $161,000.

Callon Petroleum Company Profile

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.

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