Callon Petroleum (NYSE:CPE) Holdings Lowered by Rhumbline Advisers

Rhumbline Advisers trimmed its stake in shares of Callon Petroleum (NYSE:CPE) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 821,986 shares of the oil and natural gas company’s stock after selling 14,249 shares during the period. Rhumbline Advisers owned about 0.36% of Callon Petroleum worth $3,567,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CPE. Macquarie Group Ltd. lifted its holdings in shares of Callon Petroleum by 1,098.7% during the second quarter. Macquarie Group Ltd. now owns 7,230,540 shares of the oil and natural gas company’s stock valued at $47,649,000 after purchasing an additional 6,627,337 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Callon Petroleum by 212.7% during the second quarter. Morgan Stanley now owns 3,999,820 shares of the oil and natural gas company’s stock valued at $26,359,000 after purchasing an additional 2,720,650 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Callon Petroleum by 5,662.1% during the second quarter. AQR Capital Management LLC now owns 2,507,367 shares of the oil and natural gas company’s stock valued at $16,273,000 after purchasing an additional 2,463,852 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Callon Petroleum by 44.6% during the second quarter. Nuveen Asset Management LLC now owns 5,342,720 shares of the oil and natural gas company’s stock valued at $35,208,000 after purchasing an additional 1,647,886 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Callon Petroleum by 184.1% during the second quarter. JPMorgan Chase & Co. now owns 2,338,135 shares of the oil and natural gas company’s stock valued at $14,894,000 after purchasing an additional 1,515,172 shares during the last quarter.

Several equities research analysts have recently commented on CPE shares. Barclays reduced their target price on Callon Petroleum from $9.00 to $6.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Morgan Stanley reduced their target price on Callon Petroleum from $6.25 to $4.75 and set an “equal weight” rating for the company in a report on Friday, October 4th. Evercore ISI reaffirmed a “hold” rating and set a $12.00 target price on shares of Callon Petroleum in a report on Thursday, August 8th. Jefferies Financial Group downgraded Callon Petroleum from a “buy” rating to a “hold” rating and set a $11.00 target price for the company. in a report on Monday, July 15th. Finally, Northland Securities set a $7.00 target price on Callon Petroleum and gave the company a “buy” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Callon Petroleum currently has a consensus rating of “Buy” and an average price target of $9.95.

NYSE:CPE opened at $4.54 on Friday. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 5.54, a PEG ratio of 0.34 and a beta of 1.46. Callon Petroleum has a 1-year low of $3.68 and a 1-year high of $10.73. The company has a current ratio of 0.55, a quick ratio of 0.47 and a debt-to-equity ratio of 0.48. The business’s fifty day moving average price is $4.13 and its 200 day moving average price is $5.46.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $155.38 million for the quarter, compared to analyst estimates of $152.61 million. Callon Petroleum had a return on equity of 7.48% and a net margin of 38.86%. Callon Petroleum’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 earnings per share. Equities analysts forecast that Callon Petroleum will post 0.71 earnings per share for the current year.

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 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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