Channing Capital Management LLC Boosts Stake in Callon Petroleum (CPE)

Channing Capital Management LLC grew its stake in shares of Callon Petroleum (NYSE:CPE) by 6.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,099,165 shares of the oil and natural gas company’s stock after purchasing an additional 389,827 shares during the quarter. Callon Petroleum makes up 2.6% of Channing Capital Management LLC’s portfolio, making the stock its 6th largest holding. Channing Capital Management LLC owned about 2.68% of Callon Petroleum worth $73,129,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the company. People s United Financial Inc. grew its holdings in shares of Callon Petroleum by 8.1% during the second quarter. People s United Financial Inc. now owns 65,335 shares of the oil and natural gas company’s stock valued at $701,000 after purchasing an additional 4,882 shares during the last quarter. Liberty Mutual Group Asset Management Inc. grew its holdings in shares of Callon Petroleum by 12.3% during the second quarter. Liberty Mutual Group Asset Management Inc. now owns 44,645 shares of the oil and natural gas company’s stock valued at $479,000 after purchasing an additional 4,893 shares during the last quarter. Strs Ohio grew its holdings in shares of Callon Petroleum by 139.0% during the third quarter. Strs Ohio now owns 9,800 shares of the oil and natural gas company’s stock valued at $117,000 after purchasing an additional 5,700 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Callon Petroleum by 3.8% during the third quarter. Arizona State Retirement System now owns 161,585 shares of the oil and natural gas company’s stock valued at $1,937,000 after purchasing an additional 5,931 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Callon Petroleum by 26.7% during the third quarter. PNC Financial Services Group Inc. now owns 32,568 shares of the oil and natural gas company’s stock valued at $389,000 after purchasing an additional 6,856 shares during the last quarter.

In other 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 transaction of $176,400.00. Following the completion of the sale, the vice president now owns 42,062 shares in the company, valued at approximately $494,649.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.63% of the stock is currently owned by corporate insiders.

CPE has been the subject of several recent research reports. Oppenheimer initiated coverage on Callon Petroleum in a report on Wednesday, October 3rd. They set an “outperform” rating and a $16.00 target price for the company. Barclays initiated coverage on Callon Petroleum in a report on Wednesday, August 29th. They set an “overweight” rating and a $14.00 target price for the company. ValuEngine raised Callon Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, August 23rd. Credit Suisse Group raised Callon Petroleum from a “neutral” rating to an “outperform” rating and set a $14.00 target price for the company in a report on Monday, November 12th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $20.00 target price on shares of Callon Petroleum in a report on Sunday, August 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have assigned a buy rating to the stock. Callon Petroleum has a consensus rating of “Buy” and an average price target of $16.32.

Shares of NYSE:CPE opened at $8.55 on Monday. Callon Petroleum has a one year low of $8.50 and a one year high of $14.65. The firm has a market cap of $1.95 billion, a PE ratio of 20.36 and a beta of 1.06. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.57 and a quick ratio of 0.57.

Callon Petroleum (NYSE:CPE) last announced its quarterly earnings data on Tuesday, November 6th. The oil and natural gas company reported $0.21 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $145.66 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The company’s quarterly revenue was up 90.5% compared to the same quarter last year. On average, equities research analysts expect that Callon Petroleum will post 0.88 EPS for the current year.

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Callon Petroleum Company 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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