Callon Petroleum (NYSE:CPE) Shares Sold by Texas Permanent School Fund

Texas Permanent School Fund lowered its position in shares of Callon Petroleum (NYSE:CPE) by 52.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,049 shares of the oil and natural gas company’s stock after selling 81,629 shares during the period. Texas Permanent School Fund’s holdings in Callon Petroleum were worth $317,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Moody Aldrich Partners LLC grew its stake in shares of Callon Petroleum by 52.9% during the second quarter. Moody Aldrich Partners LLC now owns 576,267 shares of the oil and natural gas company’s stock worth $3,798,000 after purchasing an additional 199,346 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Callon Petroleum by 95.5% during the third quarter. Oppenheimer & Co. Inc. now owns 52,600 shares of the oil and natural gas company’s stock worth $228,000 after purchasing an additional 25,700 shares in the last quarter. Aviva PLC acquired a new position in shares of Callon Petroleum during the second quarter worth $1,121,000. Schroder Investment Management Group grew its stake in shares of Callon Petroleum by 15.9% during the second quarter. Schroder Investment Management Group now owns 1,868,992 shares of the oil and natural gas company’s stock worth $12,317,000 after purchasing an additional 256,679 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Callon Petroleum by 25.0% during the second quarter. Prudential Financial Inc. now owns 1,365,280 shares of the oil and natural gas company’s stock worth $8,997,000 after purchasing an additional 273,240 shares in the last quarter.

Shares of NYSE:CPE opened at $4.19 on Friday. The company has a 50-day simple moving average of $4.12 and a 200-day simple moving average of $5.37. Callon Petroleum has a one year low of $3.68 and a one year high of $10.12. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 5.11, a PEG ratio of 0.36 and a beta of 1.46.

Callon Petroleum (NYSE:CPE) last announced its earnings results on Monday, November 4th. The oil and natural gas company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. Callon Petroleum had a net margin of 38.86% and a return on equity of 7.48%. The business had revenue of $155.38 million during the quarter, compared to analysts’ expectations of $152.61 million. During the same period in the prior year, the company earned $0.21 earnings per share. The business’s revenue was down 3.6% compared to the same quarter last year. As a group, research analysts forecast that Callon Petroleum will post 0.72 EPS for the current fiscal year.

A number of brokerages recently commented on CPE. Evercore ISI reiterated a “hold” rating and set a $12.00 target price on shares of Callon Petroleum in a research note on Thursday, August 8th. ValuEngine upgraded shares of Callon Petroleum from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Citigroup lowered their target price on shares of Callon Petroleum from $10.00 to $8.50 and set a “buy” rating for the company in a research note on Monday, September 23rd. Morgan Stanley lowered their target price on shares of Callon Petroleum from $6.25 to $4.75 and set an “equal weight” rating for the company in a research note on Friday, October 4th. Finally, Williams Capital set a $8.00 target price on shares of Callon Petroleum and gave the stock a “buy” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. Callon Petroleum presently has an average rating of “Buy” and a consensus price target of $9.63.

Callon Petroleum 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 and southeastern New Mexico. As of December 31, 2018, its estimated net proved reserves totaled 238.5 million barrel of oil equivalent, including 180.1 MMBbls of oil and 350.5 Bcf of natural gas.

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

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