Callon Petroleum (NYSE:CPE – Get Rating)’s share price fell 5.5% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $57.16 and last traded at $57.63. 5,965 shares changed hands during trading, a decline of 100% from the average session volume of 2,118,508 shares. The stock had previously closed at $60.98.Specifically, Director S P. Iv Johnson sold 1,200 shares of the stock in a transaction dated Monday, December 20th. The shares were sold at an average price of $42.71, for a total value of $51,252.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Primexx Energy Partners, Ltd sold 5,225 shares of the company’s stock in a transaction dated Friday, March 4th. The shares were sold at an average price of $60.02, for a total transaction of $313,604.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 727,930 shares of company stock worth $43,199,082. 2.10% of the stock is owned by company insiders.
CPE has been the subject of several analyst reports. Zacks Investment Research cut shares of Callon Petroleum from a “strong-buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research report on Wednesday, December 15th. Morgan Stanley lowered their price target on shares of Callon Petroleum from $77.00 to $63.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 25th. JPMorgan Chase & Co. cut shares of Callon Petroleum from a “neutral” rating to an “underweight” rating and set a $62.00 price objective on the stock. in a research report on Friday, January 21st. Royal Bank of Canada boosted their target price on shares of Callon Petroleum from $66.00 to $70.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 9th. Finally, MKM Partners upped their price objective on shares of Callon Petroleum from $69.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, November 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Callon Petroleum has a consensus rating of “Hold” and an average price target of $67.75.
The company has a 50 day moving average of $53.13 and a 200-day moving average of $50.06. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $3.56 billion, a P/E ratio of 9.69 and a beta of 2.82.
Callon Petroleum (NYSE:CPE – Get Rating) last announced its quarterly earnings data on Tuesday, February 22nd. The oil and natural gas company reported $2.66 EPS for the quarter, missing the Zacks’ consensus estimate of $2.72 by ($0.06). Callon Petroleum had a return on equity of 40.46% and a net margin of 17.86%. During the same period last year, the business earned $1.00 EPS. Equities analysts forecast that Callon Petroleum will post 13.8 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. IFP Advisors Inc lifted its holdings in shares of Callon Petroleum by 80.0% during the 3rd quarter. IFP Advisors Inc now owns 900 shares of the oil and natural gas company’s stock valued at $44,000 after buying an additional 400 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in Callon Petroleum by 100.0% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,000 shares of the oil and natural gas company’s stock worth $49,000 after purchasing an additional 500 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Callon Petroleum in the 3rd quarter worth approximately $68,000. Newbridge Financial Services Group Inc. acquired a new stake in Callon Petroleum in the 3rd quarter worth approximately $74,000. Finally, Macquarie Group Ltd. lifted its holdings in Callon Petroleum by 23.8% in the 3rd quarter. Macquarie Group Ltd. now owns 1,829 shares of the oil and natural gas company’s stock worth $90,000 after purchasing an additional 352 shares during the last quarter. Institutional investors and hedge funds own 90.38% of the company’s stock.
Callon Petroleum Company Profile (NYSE:CPE)
Callon Petroleum Co engages in the exploration, development, acquisition and production of oil and natural gas properties in the United States. It focuses on unconventional oil and natural gas reserves in the Permian Basin. The company was founded by Sim C. Callon and John S. Callon in 1950 and is headquartered in Houston, TX.