BlackRock Investment Management LLC Boosts Stake in Callon Petroleum Company (CPE)

BlackRock Investment Management LLC raised its stake in shares of Callon Petroleum Company (NYSE:CPE) by 18.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 537,336 shares of the company’s stock after buying an additional 85,273 shares during the period. BlackRock Investment Management LLC owned approximately 0.41% of Callon Petroleum Company worth $8,436,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CPE. Silvercrest Asset Management Group LLC acquired a new stake in Callon Petroleum Company during the second quarter valued at about $32,029,000. Vaughan Nelson Investment Management L.P. acquired a new stake in Callon Petroleum Company during the third quarter valued at about $31,528,000. Copper Rock Capital Partners LLC acquired a new stake in Callon Petroleum Company during the third quarter valued at about $27,330,000. State Street Corp raised its stake in Callon Petroleum Company by 53.3% in the second quarter. State Street Corp now owns 4,492,291 shares of the company’s stock valued at $50,443,000 after buying an additional 1,561,776 shares during the last quarter. Finally, Teachers Advisors Inc. raised its stake in Callon Petroleum Company by 100.9% in the second quarter. Teachers Advisors Inc. now owns 3,093,435 shares of the company’s stock valued at $34,739,000 after buying an additional 1,553,655 shares during the last quarter. Institutional investors and hedge funds own 84.24% of the company’s stock.

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

Shares of Callon Petroleum Company (NYSE:CPE) traded up 0.885% during midday trading on Wednesday, reaching $15.395. 1,630,032 shares of the company’s stock were exchanged. The company’s market cap is $2.48 billion. The stock’s 50 day moving average price is $16.15 and its 200 day moving average price is $14.22. Callon Petroleum Company has a 12-month low of $4.21 and a 12-month high of $18.53.

Callon Petroleum Company (NYSE:CPE) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Callon Petroleum Company had a negative net margin of 122.93% and a positive return on equity of 4.44%. The firm earned $55.90 million during the quarter, compared to analysts’ expectations of $45.48 million. During the same period in the previous year, the company earned $0.05 EPS. The firm’s revenue for the quarter was up 63.0% compared to the same quarter last year. Equities analysts anticipate that Callon Petroleum Company will post $0.28 earnings per share for the current fiscal year.

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CPE has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Callon Petroleum Company from a “buy” rating to a “hold” rating in a research note on Tuesday, October 11th. Evercore ISI initiated coverage on shares of Callon Petroleum Company in a research note on Wednesday, September 28th. They set a “buy” rating and a $20.00 price objective for the company. KeyCorp upped their price objective on shares of Callon Petroleum Company from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday, November 22nd. Deutsche Bank AG initiated coverage on shares of Callon Petroleum Company in a research note on Monday, November 28th. They set a “buy” rating and a $15.84 price objective for the company. Finally, KLR Group reaffirmed a “buy” rating and set a $21.00 price objective (up from $18.00) on shares of Callon Petroleum Company in a research note on Tuesday, September 13th. Four equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $16.29.

Callon Petroleum Company Company Profile

Callon Petroleum Company is an independent oil and natural gas company. The Company is engaged in the exploration, development, acquisition and production of oil and natural gas properties. It focuses on unconventional, onshore, oil and natural gas reserves in the Permian Basin in West Texas and the Midland Basin.

5 Day Chart for NYSE:CPE

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