Arizona State Retirement System Decreases Holdings in Callon Petroleum (NYSE:CPE)

Arizona State Retirement System cut its holdings in shares of Callon Petroleum (NYSE:CPEGet Rating) by 20.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,952 shares of the oil and natural gas company’s stock after selling 2,507 shares during the quarter. Arizona State Retirement System’s holdings in Callon Petroleum were worth $588,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Mutual of America Capital Management LLC grew its stake in shares of Callon Petroleum by 5.0% during the 1st quarter. Mutual of America Capital Management LLC now owns 6,809 shares of the oil and natural gas company’s stock worth $402,000 after acquiring an additional 323 shares during the period. HighTower Advisors LLC boosted its stake in Callon Petroleum by 36.2% in the 4th quarter. HighTower Advisors LLC now owns 5,757 shares of the oil and natural gas company’s stock worth $273,000 after purchasing an additional 1,531 shares during the period. Polianta Ltd bought a new position in Callon Petroleum in the 1st quarter worth about $909,000. Squarepoint Ops LLC boosted its stake in Callon Petroleum by 1,276.0% in the 4th quarter. Squarepoint Ops LLC now owns 153,502 shares of the oil and natural gas company’s stock worth $7,253,000 after purchasing an additional 142,346 shares during the period. Finally, D L Carlson Investment Group Inc. bought a new position in Callon Petroleum in the 4th quarter worth about $2,159,000. 95.73% of the stock is owned by hedge funds and other institutional investors.

Callon Petroleum Price Performance

Shares of Callon Petroleum stock opened at $42.66 on Thursday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.36 and a quick ratio of 0.36. The business’s 50 day simple moving average is $46.75 and its two-hundred day simple moving average is $51.93. The stock has a market capitalization of $2.63 billion, a P/E ratio of 4.84 and a beta of 2.73. Callon Petroleum has a one year low of $25.32 and a one year high of $66.48.

Callon Petroleum (NYSE:CPEGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The oil and natural gas company reported $3.43 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. The business had revenue of $664.80 million for the quarter, compared to analysts’ expectations of $587.95 million. Callon Petroleum had a return on equity of 42.41% and a net margin of 19.71%. The business’s quarterly revenue was up 107.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.49 EPS. Analysts forecast that Callon Petroleum will post 15.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wells Fargo & Company cut their target price on Callon Petroleum from $78.00 to $70.00 and set an “equal weight” rating for the company in a research note on Monday, July 11th. JPMorgan Chase & Co. cut their target price on Callon Petroleum from $75.00 to $68.00 and set an “underweight” rating for the company in a research note on Wednesday, July 6th. Royal Bank of Canada raised Callon Petroleum from a “sector perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a report on Wednesday, July 6th. Morgan Stanley lowered their price target on Callon Petroleum from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 19th. Finally, Roth Capital raised Callon Petroleum from a “neutral” rating to a “buy” rating and set a $80.00 price target on the stock in a report on Monday, April 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $76.29.

Callon Petroleum Company Profile

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Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, exploration, and development of oil and natural gas properties in Permian Basin in West Texas. As of December 31, 2021, its estimated net proved reserves totaled approximately 484.6 million barrel of oil equivalent, including 290.3 MMBbls oil, 577.3 Bcf of natural gas, and 98.1 MMBbls of natural gas liquids.

Further Reading

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

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