Franklin Resources Inc. increased its position in Callon Petroleum (NYSE:CPE) by 8.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,605,846 shares of the oil and natural gas company’s stock after buying an additional 346,742 shares during the quarter. Franklin Resources Inc. owned 2.02% of Callon Petroleum worth $55,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in CPE. First Hawaiian Bank bought a new position in shares of Callon Petroleum during the 3rd quarter worth approximately $107,000. Strs Ohio boosted its holdings in shares of Callon Petroleum by 139.0% during the 3rd quarter. Strs Ohio now owns 9,800 shares of the oil and natural gas company’s stock worth $117,000 after buying an additional 5,700 shares in the last quarter. MML Investors Services LLC bought a new position in shares of Callon Petroleum during the 3rd quarter worth approximately $144,000. Marietta Investment Partners LLC bought a new position in shares of Callon Petroleum during the 2nd quarter worth approximately $153,000. Finally, HPM Partners LLC bought a new position in shares of Callon Petroleum during the 2nd quarter worth approximately $161,000.

In related news, VP Mitzi P. Conn sold 15,000 shares of the stock in a transaction 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 transaction, the vice president now directly owns 42,062 shares in the company, valued at approximately $494,649.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.82% of the stock is owned by company insiders.

Shares of CPE opened at $8.04 on Friday. Callon Petroleum has a 12-month low of $7.63 and a 12-month high of $14.65. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $1.82 billion, a P/E ratio of 10.11 and a beta of 1.05.

Callon Petroleum (NYSE:CPE) last issued its earnings results on Tuesday, November 6th. The oil and natural gas company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. Callon Petroleum had a return on equity of 8.31% and a net margin of 30.70%. The company had revenue of $161.21 million for the quarter, compared to analysts’ expectations of $145.66 million. During the same period last year, the business earned $0.09 EPS. Callon Petroleum’s quarterly revenue was up 90.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Callon Petroleum will post 0.88 earnings per share for the current fiscal year.

CPE has been the topic of a number of research analyst reports. TheStreet upgraded Callon Petroleum from a “c+” rating to a “b-” rating in a report on Monday, September 17th. Zacks Investment Research restated a “hold” rating on shares of Callon Petroleum in a report on Monday, November 12th. ValuEngine upgraded Callon Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, September 13th. Credit Suisse Group upgraded Callon Petroleum from a “neutral” rating to an “outperform” rating and set a $14.00 price target on the stock in a report on Monday, November 12th. Finally, Oppenheimer initiated coverage on Callon Petroleum in a report on Wednesday, October 3rd. They set an “outperform” rating and a $16.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $15.65.

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

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