Readystate Asset Management LP Purchases 9,077 Shares of Callon Petroleum (NYSE:CPE)

Readystate Asset Management LP raised its position in shares of Callon Petroleum (NYSE:CPE) by 24.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,968 shares of the oil and natural gas company’s stock after acquiring an additional 9,077 shares during the quarter. Readystate Asset Management LP owned approximately 0.07% of Callon Petroleum worth $1,522,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CPE. Royal Bank of Canada boosted its position in shares of Callon Petroleum by 510.9% in the 3rd quarter. Royal Bank of Canada now owns 1,674,634 shares of the oil and natural gas company’s stock worth $65,511,000 after purchasing an additional 1,400,493 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Callon Petroleum by 22.4% in the 3rd quarter. Vanguard Group Inc. now owns 6,610,084 shares of the oil and natural gas company’s stock worth $231,419,000 after purchasing an additional 1,210,001 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Callon Petroleum by 54.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,754,939 shares of the oil and natural gas company’s stock worth $92,124,000 after purchasing an additional 975,132 shares in the last quarter. Woodline Partners LP bought a new position in Callon Petroleum in the 2nd quarter valued at approximately $31,528,000. Finally, Boston Trust Walden Corp bought a new position in Callon Petroleum in the 3rd quarter valued at approximately $27,941,000. 91.08% of the stock is owned by institutional investors.

Callon Petroleum Stock Performance

CPE remained flat at $35.76 during mid-day trading on Wednesday. The stock has a market cap of $2.38 billion, a P/E ratio of 5.87 and a beta of 2.46. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.39 and a quick ratio of 0.39. The firm’s fifty day moving average price is $33.57 and its 200 day moving average price is $33.67. Callon Petroleum has a twelve month low of $28.62 and a twelve month high of $41.36.

Callon Petroleum (NYSE:CPE) last announced its earnings results on Monday, February 26th. The oil and natural gas company reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.12). The company had revenue of $601.36 million for the quarter, compared to analysts’ expectations of $563.30 million. Callon Petroleum had a net margin of 17.12% and a return on equity of 12.65%. On average, analysts predict that Callon Petroleum will post 6.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

CPE has been the topic of several analyst reports. Stifel Nicolaus reaffirmed a “hold” rating and issued a $32.00 price objective (down from $44.00) on shares of Callon Petroleum in a research report on Tuesday, January 23rd. StockNews.com initiated coverage on Callon Petroleum in a research report on Saturday. They issued a “hold” rating on the stock. Finally, Mizuho lowered their price objective on Callon Petroleum from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, March 15th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $40.33.

Callon Petroleum Profile

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, exploration, and development of oil and natural gas properties in West Texas. Callon Petroleum Company was founded in 1950 and is headquartered in Houston, Texas.