BlueCrest Capital Management Ltd grew its stake in Callon Petroleum (NYSE:CPE – Get Rating) by 39.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 103,378 shares of the oil and natural gas company’s stock after purchasing an additional 29,116 shares during the quarter. BlueCrest Capital Management Ltd owned approximately 0.17% of Callon Petroleum worth $3,619,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the stock. Brandywine Global Investment Management LLC raised its stake in Callon Petroleum by 13.5% during the third quarter. Brandywine Global Investment Management LLC now owns 199,365 shares of the oil and natural gas company’s stock worth $6,980,000 after acquiring an additional 23,787 shares during the period. Cantor Fitzgerald L. P. acquired a new stake in shares of Callon Petroleum in the third quarter valued at approximately $1,014,000. Gamco Investors INC. ET AL increased its stake in shares of Callon Petroleum by 87.5% in the third quarter. Gamco Investors INC. ET AL now owns 89,680 shares of the oil and natural gas company’s stock valued at $3,140,000 after purchasing an additional 41,840 shares during the period. Gabelli Funds LLC increased its stake in shares of Callon Petroleum by 22.0% in the third quarter. Gabelli Funds LLC now owns 61,000 shares of the oil and natural gas company’s stock valued at $2,136,000 after purchasing an additional 11,000 shares during the period. Finally, Kore Private Wealth LLC increased its stake in shares of Callon Petroleum by 3.4% in the third quarter. Kore Private Wealth LLC now owns 26,521 shares of the oil and natural gas company’s stock valued at $928,000 after purchasing an additional 884 shares during the period. Institutional investors and hedge funds own 83.60% of the company’s stock.
Analyst Ratings Changes
Several brokerages have commented on CPE. Morgan Stanley dropped their price target on shares of Callon Petroleum from $60.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 24th. JPMorgan Chase & Co. upgraded shares of Callon Petroleum from an “underweight” rating to a “neutral” rating and set a $57.00 price objective for the company in a report on Monday, December 5th. Mizuho began coverage on shares of Callon Petroleum in a report on Monday, January 9th. They set a “buy” rating and a $59.00 target price for the company. Finally, Truist Financial reduced their target price on shares of Callon Petroleum from $59.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, February 21st. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Callon Petroleum has a consensus rating of “Hold” and an average price target of $61.38.
Callon Petroleum Stock Up 3.1 %
CPE stock traded up $1.17 during midday trading on Monday, reaching $39.44. The company had a trading volume of 426,584 shares, compared to its average volume of 1,179,126. Callon Petroleum has a 1 year low of $31.23 and a 1 year high of $66.48. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $2.43 billion, a P/E ratio of 1.96 and a beta of 2.69. The company has a 50 day moving average of $38.69 and a two-hundred day moving average of $40.31.
Callon Petroleum (NYSE:CPE – Get Rating) last released its earnings results on Thursday, February 23rd. The oil and natural gas company reported $3.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.44 by ($0.08). Callon Petroleum had a return on equity of 35.68% and a net margin of 37.44%. The company had revenue of $704.25 million during the quarter, compared to analysts’ expectations of $617.42 million. During the same quarter in the previous year, the company earned $2.66 EPS. On average, equities research analysts expect that Callon Petroleum will post 12.81 earnings per share for the current fiscal year.
Callon Petroleum Company Profile
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.