Swiss National Bank Buys 29,000 Shares of Callon Petroleum (NYSE:CPE)

Swiss National Bank boosted its holdings in shares of Callon Petroleum (NYSE:CPEGet Rating) by 33.3% in the second quarter, Holdings Channel reports. The firm owned 116,000 shares of the oil and natural gas company’s stock after purchasing an additional 29,000 shares during the quarter. Swiss National Bank’s holdings in Callon Petroleum were worth $4,547,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPE. Mutual of America Capital Management LLC lifted its stake in Callon Petroleum by 5.0% during the first 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 purchasing an additional 323 shares during the period. Victory Capital Management Inc. lifted its stake in Callon Petroleum by 2.1% during the first quarter. Victory Capital Management Inc. now owns 20,465 shares of the oil and natural gas company’s stock worth $1,049,000 after purchasing an additional 429 shares during the period. Ziegler Capital Management LLC acquired a new stake in shares of Callon Petroleum during the first quarter worth approximately $1,347,000. Qube Research & Technologies Ltd acquired a new stake in shares of Callon Petroleum during the first quarter worth approximately $4,015,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Callon Petroleum during the first quarter worth approximately $299,000. Institutional investors own 87.85% of the company’s stock.

Analyst Upgrades and Downgrades

CPE has been the subject of several recent analyst reports. Morgan Stanley dropped their price objective on shares of Callon Petroleum from $64.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, October 19th. KeyCorp initiated coverage on shares of Callon Petroleum in a report on Monday, September 19th. They set a “sector weight” rating for the company. Citigroup raised their price objective on shares of Callon Petroleum from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, September 9th. JPMorgan Chase & Co. dropped their price objective on shares of Callon Petroleum from $59.00 to $56.00 and set an “underweight” rating for the company in a report on Friday, October 7th. Finally, StockNews.com began coverage on shares of Callon Petroleum in a report on Wednesday, October 12th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $68.57.

Callon Petroleum Price Performance

Shares of CPE stock opened at $42.18 on Friday. Callon Petroleum has a 52-week low of $31.23 and a 52-week high of $66.48. The stock has a market cap of $2.60 billion, a PE ratio of 2.12 and a beta of 2.69. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.44 and a current ratio of 0.44. The firm’s 50 day moving average price is $41.85 and its two-hundred day moving average price is $43.92.

Callon Petroleum Profile

(Get Rating)

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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