William Blair Investment Management LLC Sells 62,803 Shares of Callon Petroleum (CPE)

William Blair Investment Management LLC cut its stake in Callon Petroleum (NYSE:CPE) by 2.3% during the third quarter, HoldingsChannel.com reports. The fund owned 2,664,624 shares of the oil and natural gas company’s stock after selling 62,803 shares during the quarter. William Blair Investment Management LLC’s holdings in Callon Petroleum were worth $31,949,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new stake in Callon Petroleum in the 2nd quarter worth approximately $13,964,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Callon Petroleum during the second quarter worth $1,608,000. Sei Investments Co. lifted its stake in shares of Callon Petroleum by 40.0% during the second quarter. Sei Investments Co. now owns 66,486 shares of the oil and natural gas company’s stock worth $714,000 after buying an additional 18,993 shares during the period. US Bancorp DE lifted its stake in shares of Callon Petroleum by 28.9% during the second quarter. US Bancorp DE now owns 171,548 shares of the oil and natural gas company’s stock worth $1,842,000 after buying an additional 38,507 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of Callon Petroleum by 102.5% during the second quarter. Millennium Management LLC now owns 1,848,191 shares of the oil and natural gas company’s stock valued at $19,850,000 after buying an additional 935,307 shares during the last quarter.

CPE has been the topic of several research reports. Zacks Investment Research reissued a “hold” rating on shares of Callon Petroleum in a research report on Monday, November 12th. ValuEngine cut Callon Petroleum from a “sell” rating to a “strong sell” rating in a research report on Saturday. TheStreet cut Callon Petroleum from a “b-” rating to a “c+” rating in a research report on Tuesday, November 27th. Cowen initiated coverage on Callon Petroleum in a research report on Thursday. They set an “outperform” rating for the company. Finally, KLR Group reaffirmed a “buy” rating and set a $16.00 price target on shares of Callon Petroleum in a research report on Monday, August 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $16.32.

Shares of CPE opened at $9.11 on Monday. Callon Petroleum has a one year low of $8.50 and a one year high of $14.65. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.46. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 21.69 and a beta of 1.06.

Callon Petroleum (NYSE:CPE) last issued its quarterly earnings data on Tuesday, November 6th. The oil and natural gas company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The business had revenue of $161.21 million during the quarter, compared to analysts’ expectations of $145.66 million. Callon Petroleum had a return on equity of 8.31% and a net margin of 30.70%. The company’s revenue for the quarter was up 90.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 EPS. As a group, equities research analysts expect that Callon Petroleum will post 0.88 earnings per share for the current year.

In other news, VP Mitzi P. Conn sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $11.76, for a total value of $176,400.00. Following the completion of the transaction, the vice president now owns 42,062 shares of the company’s stock, valued at approximately $494,649.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.63% of the company’s stock.

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About Callon Petroleum

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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Want to see what other hedge funds are holding CPE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Callon Petroleum (NYSE:CPE).

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

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