Callon Petroleum (NYSE:CPE) Shares Sold by Marathon Capital Management

Marathon Capital Management cut its holdings in shares of Callon Petroleum (NYSE:CPE) by 55.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,250 shares of the oil and natural gas company’s stock after selling 19,875 shares during the period. Marathon Capital Management’s holdings in Callon Petroleum were worth $107,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CPE. Westwood Holdings Group Inc. boosted its position in shares of Callon Petroleum by 52.7% during the first quarter. Westwood Holdings Group Inc. now owns 5,591,310 shares of the oil and natural gas company’s stock worth $42,214,000 after buying an additional 1,929,367 shares during the period. Norges Bank acquired a new position in shares of Callon Petroleum during the fourth quarter worth approximately $6,803,000. Victory Capital Management Inc. boosted its position in shares of Callon Petroleum by 19.2% during the first quarter. Victory Capital Management Inc. now owns 5,095,142 shares of the oil and natural gas company’s stock worth $38,468,000 after buying an additional 818,951 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in shares of Callon Petroleum by 33.3% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,609,642 shares of the oil and natural gas company’s stock worth $19,703,000 after buying an additional 652,650 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Callon Petroleum during the first quarter worth approximately $4,061,000.

Several brokerages have recently issued reports on CPE. Roth Capital set a $12.00 price objective on Callon Petroleum and gave the stock a “buy” rating in a research report on Friday, June 14th. Imperial Capital cut their target price on Callon Petroleum from $16.00 to $11.00 and set an “in-line” rating for the company in a research report on Tuesday, July 16th. Capital One Financial upgraded Callon Petroleum from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. SunTrust Banks set a $12.00 target price on Callon Petroleum and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Finally, Northland Securities restated a “buy” rating and issued a $10.00 target price on shares of Callon Petroleum in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seventeen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $12.33.

Shares of NYSE CPE traded down $0.38 during trading on Monday, hitting $4.19. The company had a trading volume of 112,901 shares, compared to its average volume of 19,147,482. The company has a market cap of $1.04 billion, a P/E ratio of 5.12, a P/E/G ratio of 0.53 and a beta of 1.44. Callon Petroleum has a 52 week low of $4.32 and a 52 week high of $13.09. The firm has a 50-day moving average of $5.86. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.53 and a current ratio of 0.53.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results on Monday, May 6th. The oil and natural gas company reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The company had revenue of $153.05 million for the quarter, compared to analysts’ expectations of $144.68 million. Callon Petroleum had a return on equity of 7.55% and a net margin of 36.70%. The firm’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 earnings per share. As a group, equities research analysts expect that Callon Petroleum will post 0.78 earnings per share for the current fiscal year.

About Callon Petroleum

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.

Further Reading: Channel Trading

Want to see what other hedge funds are holding CPE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Callon Petroleum (NYSE:CPE).

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

Receive News & Ratings for Callon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.