Oak Ridge Investments LLC grew its holdings in shares of Callon Petroleum (NYSE:CPE – Get Rating) by 34.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,655 shares of the oil and natural gas company’s stock after buying an additional 16,544 shares during the period. Oak Ridge Investments LLC owned 0.10% of Callon Petroleum worth $2,162,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. increased its stake in shares of Callon Petroleum by 4.1% during the third quarter. BlackRock Inc. now owns 7,831,506 shares of the oil and natural gas company’s stock valued at $274,181,000 after acquiring an additional 308,578 shares during the period. Vanguard Group Inc. grew its position in Callon Petroleum by 22.4% in the third quarter. Vanguard Group Inc. now owns 6,610,084 shares of the oil and natural gas company’s stock worth $231,419,000 after buying an additional 1,210,001 shares during the last quarter. State Street Corp grew its position in Callon Petroleum by 8.6% in the third quarter. State Street Corp now owns 3,649,408 shares of the oil and natural gas company’s stock worth $127,766,000 after buying an additional 287,578 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Callon Petroleum by 17.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,779,807 shares of the oil and natural gas company’s stock worth $66,007,000 after buying an additional 261,316 shares during the last quarter. Finally, Marshall Wace LLP grew its position in Callon Petroleum by 27.6% in the fourth quarter. Marshall Wace LLP now owns 958,436 shares of the oil and natural gas company’s stock worth $35,548,000 after buying an additional 207,514 shares during the last quarter. Institutional investors own 92.46% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on CPE shares. Royal Bank of Canada restated an “outperform” rating and issued a $60.00 price target on shares of Callon Petroleum in a research report on Wednesday, March 22nd. StockNews.com started coverage on shares of Callon Petroleum in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Mizuho decreased their price target on shares of Callon Petroleum from $65.00 to $54.00 in a research report on Friday, March 10th. Truist Financial lifted their price objective on shares of Callon Petroleum from $55.00 to $71.00 in a research report on Monday, May 8th. Finally, Citigroup lowered their price objective on shares of Callon Petroleum from $40.00 to $36.00 in a research report on Sunday, May 21st. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $55.50.
Callon Petroleum Trading Down 1.9 %
Shares of NYSE:CPE opened at $32.01 on Friday. The firm has a fifty day moving average of $32.77 and a two-hundred day moving average of $35.62. The firm has a market capitalization of $1.98 billion, a P/E ratio of 1.42 and a beta of 2.75. Callon Petroleum has a 12-month low of $28.91 and a 12-month high of $50.19. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.60.
Callon Petroleum (NYSE:CPE – Get Rating) last issued its earnings results on Wednesday, May 3rd. The oil and natural gas company reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.02). The company had revenue of $560.00 million for the quarter, compared to analyst estimates of $535.29 million. Callon Petroleum had a net margin of 46.15% and a return on equity of 27.29%. The company’s quarterly revenue was down 27.9% on a year-over-year basis. During the same period last year, the business earned $3.43 EPS. On average, equities analysts expect that Callon Petroleum will post 8.78 EPS for the current fiscal year.
Insider Activity at Callon Petroleum
In other Callon Petroleum news, Director Steven A. Webster acquired 20,000 shares of Callon Petroleum stock in a transaction that occurred on Tuesday, May 9th. The stock was acquired at an average price of $31.63 per share, with a total value of $632,600.00. Following the purchase, the director now owns 562,824 shares in the company, valued at $17,802,123.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Callon Petroleum news, Director Steven A. Webster acquired 7,384 shares of…
Read More: Callon Petroleum (NYSE:CPE) Stake Raised by Oak Ridge Investments LLC