Callon Petroleum (NYSE:CPE) Shares Bought by RR Advisors LLC

RR Advisors LLC lifted its position in Callon Petroleum (NYSE:CPE) by 7.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 690,000 shares of the oil and natural gas company’s stock after buying an additional 50,000 shares during the quarter. Callon Petroleum makes up 0.6% of RR Advisors LLC’s investment portfolio, making the stock its 21st largest holding. RR Advisors LLC’s holdings in Callon Petroleum were worth $5,210,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CPE. CWM Advisors LLC increased its holdings in shares of Callon Petroleum by 51.5% in the 1st quarter. CWM Advisors LLC now owns 20,460 shares of the oil and natural gas company’s stock valued at $154,000 after acquiring an additional 6,955 shares during the last quarter. Man Group plc increased its holdings in shares of Callon Petroleum by 69.5% in the 1st quarter. Man Group plc now owns 1,246,901 shares of the oil and natural gas company’s stock valued at $9,414,000 after acquiring an additional 511,144 shares during the last quarter. M&T Bank Corp purchased a new position in shares of Callon Petroleum in the 1st quarter valued at about $82,000. Macquarie Group Ltd. increased its holdings in shares of Callon Petroleum by 119.7% in the 1st quarter. Macquarie Group Ltd. now owns 603,203 shares of the oil and natural gas company’s stock valued at $4,554,000 after acquiring an additional 328,665 shares during the last quarter. Finally, SEI Investments Co increased its holdings in shares of Callon Petroleum by 31.1% in the 1st quarter. SEI Investments Co now owns 128,691 shares of the oil and natural gas company’s stock valued at $988,000 after acquiring an additional 30,529 shares during the last quarter.

Shares of NYSE CPE traded down $0.18 during trading hours on Friday, reaching $6.01. The stock had a trading volume of 8,705,668 shares, compared to its average volume of 7,129,332. The stock has a market cap of $1.37 billion, a PE ratio of 7.33, a price-to-earnings-growth ratio of 0.61 and a beta of 1.55. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.55. Callon Petroleum has a fifty-two week low of $5.57 and a fifty-two week high of $13.09.

Callon Petroleum (NYSE:CPE) last announced its earnings results on Monday, May 6th. The oil and natural gas company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. Callon Petroleum had a return on equity of 7.55% and a net margin of 36.70%. The firm had revenue of $153.05 million during the quarter, compared to analysts’ expectations of $144.68 million. During the same period in the prior year, the firm earned $0.27 EPS. The business’s revenue was up 20.1% on a year-over-year basis. Sell-side analysts anticipate that Callon Petroleum will post 0.89 earnings per share for the current year.

CPE has been the topic of a number of recent analyst reports. Williams Capital reiterated a “buy” rating and issued a $12.00 price objective on shares of Callon Petroleum in a report on Wednesday, February 27th. Zacks Investment Research upgraded Callon Petroleum from a “strong sell” rating to a “hold” rating in a report on Monday, March 18th. Capital One Financial downgraded Callon Petroleum from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 20th. Morgan Stanley assumed coverage on Callon Petroleum in a research report on Thursday, March 21st. They issued an “equal weight” rating and a $9.00 target price for the company. Finally, SunTrust Banks set a $12.00 target price on Callon Petroleum and gave the company a “buy” rating in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. Callon Petroleum has a consensus rating of “Buy” and an average price target of $13.00.

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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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