Elk Creek Partners LLC decreased its position in shares of Callon Petroleum (NYSE:CPE) by 0.4% in the 1st quarter, HoldingsChannel reports. The fund owned 1,085,498 shares of the oil and natural gas company’s stock after selling 4,852 shares during the period. Elk Creek Partners LLC’s holdings in Callon Petroleum were worth $8,196,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Callon Petroleum by 5.2% during the fourth quarter. BlackRock Inc. now owns 26,888,623 shares of the oil and natural gas company’s stock valued at $174,508,000 after acquiring an additional 1,326,915 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Callon Petroleum by 5.9% during the first quarter. Dimensional Fund Advisors LP now owns 18,871,804 shares of the oil and natural gas company’s stock valued at $142,484,000 after acquiring an additional 1,050,335 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Callon Petroleum by 208.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 7,823,096 shares of the oil and natural gas company’s stock valued at $50,772,000 after acquiring an additional 5,285,401 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Callon Petroleum by 25.4% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,264,141 shares of the oil and natural gas company’s stock valued at $40,655,000 after acquiring an additional 1,268,538 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Callon Petroleum by 19.2% during the first quarter. Victory Capital Management Inc. now owns 5,095,142 shares of the oil and natural gas company’s stock worth $38,468,000 after buying an additional 818,951 shares in the last quarter.

CPE stock opened at $6.31 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.53 and a current ratio of 0.53. Callon Petroleum has a 1-year low of $5.57 and a 1-year high of $13.09. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 7.70, a price-to-earnings-growth ratio of 0.63 and a beta of 1.54.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings data on Monday, May 6th. The oil and natural gas company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.01. Callon Petroleum had a return on equity of 7.55% and a net margin of 36.70%. The business had revenue of $153.05 million for the quarter, compared to analysts’ expectations of $144.68 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The business’s revenue was up 20.1% on a year-over-year basis. As a group, research analysts predict that Callon Petroleum will post 0.9 earnings per share for the current year.

Several equities research analysts recently issued reports on CPE shares. Williams Capital reiterated a “buy” rating and set a $12.00 price target on shares of Callon Petroleum in a report on Wednesday, February 27th. Morgan Stanley started coverage on Callon Petroleum in a report on Thursday, March 21st. They set an “equal weight” rating and a $9.00 price target for the company. Capital One Financial downgraded Callon Petroleum from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 20th. Zacks Investment Research upgraded Callon Petroleum from a “strong sell” rating to a “hold” rating in a report on Monday, March 18th. Finally, SunTrust Banks set a $12.00 price target on Callon Petroleum and gave the stock a “buy” rating in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $13.63.

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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 and southeastern New Mexico. As of December 31, 2018, its estimated net proved reserves totaled 238.5 million barrel of oil equivalent, including 180.1 MMBbls of oil and 350.5 Bcf of natural gas.

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

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