E&G Advisors LP Trims Holdings in Callon Petroleum (CPE)

E&G Advisors LP lessened its stake in shares of Callon Petroleum (NYSE:CPE) by 10.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,450 shares of the oil and natural gas company’s stock after selling 4,000 shares during the quarter. E&G Advisors LP’s holdings in Callon Petroleum were worth $268,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CPE. BlackRock Inc. boosted its holdings in Callon Petroleum by 5.2% in the 4th quarter. BlackRock Inc. now owns 26,888,623 shares of the oil and natural gas company’s stock worth $174,508,000 after buying an additional 1,326,915 shares during the period. Vanguard Group Inc boosted its holdings in Callon Petroleum by 3.1% in the 3rd quarter. Vanguard Group Inc now owns 20,395,498 shares of the oil and natural gas company’s stock valued at $244,542,000 after purchasing an additional 615,053 shares during the period. Vanguard Group Inc. boosted its holdings in Callon Petroleum by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 20,395,498 shares of the oil and natural gas company’s stock valued at $244,542,000 after purchasing an additional 615,053 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Callon Petroleum by 208.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 7,823,096 shares of the oil and natural gas company’s stock valued at $50,772,000 after purchasing an additional 5,285,401 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Callon Petroleum by 25.4% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,264,141 shares of the oil and natural gas company’s stock valued at $40,655,000 after purchasing an additional 1,268,538 shares during the period.

Several brokerages have commented on CPE. Imperial Capital reissued an “outperform” rating and issued a $15.00 price target (up from $12.00) on shares of Callon Petroleum in a report on Wednesday, February 13th. Williams Capital reissued a “buy” rating and issued a $12.00 price target on shares of Callon Petroleum in a report on Tuesday, April 9th. Zacks Investment Research raised shares of Callon Petroleum from a “strong sell” rating to a “hold” rating in a report on Monday, March 18th. Barclays downgraded shares of Callon Petroleum from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $14.00 to $10.00 in a report on Wednesday, January 16th. Finally, Morgan Stanley assumed coverage on shares of Callon Petroleum in a report on Thursday, March 21st. They set an “equal weight” rating and a $9.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $13.81.

Shares of CPE stock traded down $0.12 during mid-day trading on Friday, reaching $7.98. The stock had a trading volume of 5,975,021 shares, compared to its average volume of 5,832,437. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 9.73, a PEG ratio of 0.80 and a beta of 1.50. The company has a current ratio of 0.53, a quick ratio of 0.71 and a debt-to-equity ratio of 0.55. Callon Petroleum has a 52-week low of $5.57 and a 52-week high of $14.27.

Callon Petroleum (NYSE:CPE) last announced its earnings results on Tuesday, February 26th. The oil and natural gas company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.05). The company had revenue of $161.90 million for the quarter, compared to the consensus estimate of $164.50 million. Callon Petroleum had a net margin of 36.70% and a return on equity of 7.55%. Equities analysts predict that Callon Petroleum will post 0.92 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 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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