Pitcairn Co. Trims Stake in Callon Petroleum (CPE)

Pitcairn Co. cut its holdings in Callon Petroleum (NYSE:CPE) by 24.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,238 shares of the oil and natural gas company’s stock after selling 7,275 shares during the period. Pitcairn Co.’s holdings in Callon Petroleum were worth $267,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Point72 Asset Management L.P. bought a new stake in shares of Callon Petroleum in the 2nd quarter worth about $13,964,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Callon Petroleum in the 2nd quarter worth about $1,608,000. Sei Investments Co. increased its holdings in shares of Callon Petroleum by 40.0% in the 2nd quarter. Sei Investments Co. now owns 66,486 shares of the oil and natural gas company’s stock worth $714,000 after buying an additional 18,993 shares during the last quarter. US Bancorp DE increased its holdings in shares of Callon Petroleum by 28.9% in the 2nd quarter. US Bancorp DE now owns 171,548 shares of the oil and natural gas company’s stock worth $1,842,000 after buying an additional 38,507 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Callon Petroleum by 102.5% in the 2nd quarter. Millennium Management LLC now owns 1,848,191 shares of the oil and natural gas company’s stock worth $19,850,000 after buying an additional 935,307 shares during the last quarter.

CPE has been the subject of a number of recent analyst reports. ValuEngine cut shares of Callon Petroleum from a “hold” rating to a “sell” rating in a research note on Friday, September 7th. Williams Capital set a $16.00 price target on shares of Callon Petroleum and gave the stock a “buy” rating in a research note on Wednesday. Zacks Investment Research raised shares of Callon Petroleum from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Tuesday, October 23rd. Stephens set a $20.00 price target on shares of Callon Petroleum and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Finally, TheStreet raised shares of Callon Petroleum from a “c+” rating to a “b-” rating in a research note on Monday, September 17th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $16.15.

Callon Petroleum stock opened at $11.08 on Thursday. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 26.38 and a beta of 1.06. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.61 and a quick ratio of 2.61. Callon Petroleum has a 1 year low of $9.23 and a 1 year high of $14.65.

Callon Petroleum (NYSE:CPE) last released its quarterly earnings data on Tuesday, November 6th. The oil and natural gas company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. The company had revenue of $161.21 million during the quarter, compared to analysts’ expectations of $145.66 million. Callon Petroleum had a net margin of 30.70% and a return on equity of 8.60%. The firm’s quarterly revenue was up 90.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 EPS. As a group, research analysts expect that Callon Petroleum will post 0.86 earnings per share for the current fiscal year.

In other Callon Petroleum news, VP Mitzi P. Conn sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $11.76, for a total value of $176,400.00. Following the completion of the sale, the vice president now directly owns 42,062 shares of the company’s stock, valued at approximately $494,649.12. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.82% of the stock is owned by insiders.

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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. As of December 31, 2017, its estimated net proved reserves totaled 137.0 million barrel of oil equivalent.

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

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