Comerica Bank Lowers Stock Position in Callon Petroleum (NYSE:CPE)

Comerica Bank reduced its stake in shares of Callon Petroleum (NYSE:CPEGet Rating) by 3.3% during the third quarter, Holdings Channel reports. The institutional investor owned 39,128 shares of the oil and natural gas company’s stock after selling 1,340 shares during the period. Comerica Bank’s holdings in Callon Petroleum were worth $1,720,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new position in shares of Callon Petroleum during the 3rd quarter valued at about $56,000. PNC Financial Services Group Inc. lifted its position in shares of Callon Petroleum by 25.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,296 shares of the oil and natural gas company’s stock valued at $135,000 after buying an additional 462 shares in the last quarter. Point72 Hong Kong Ltd lifted its position in shares of Callon Petroleum by 14.5% during the 1st quarter. Point72 Hong Kong Ltd now owns 2,299 shares of the oil and natural gas company’s stock valued at $136,000 after buying an additional 291 shares in the last quarter. KBC Group NV purchased a new position in shares of Callon Petroleum during the 2nd quarter valued at about $168,000. Finally, Captrust Financial Advisors lifted its position in shares of Callon Petroleum by 102.1% during the 1st quarter. Captrust Financial Advisors now owns 3,251 shares of the oil and natural gas company’s stock valued at $192,000 after buying an additional 1,642 shares in the last quarter. 83.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CPE has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised Callon Petroleum from an “underweight” rating to a “neutral” rating and set a $57.00 target price on the stock in a research note on Monday, December 5th. StockNews.com initiated coverage on Callon Petroleum in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Morgan Stanley decreased their target price on Callon Petroleum from $64.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 19th. Finally, Mizuho initiated coverage on Callon Petroleum in a research note on Monday, January 9th. They set a “buy” rating and a $59.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $67.50.

Callon Petroleum Stock Performance

NYSE:CPE opened at $42.65 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.44 and a quick ratio of 0.44. Callon Petroleum has a 1 year low of $31.23 and a 1 year high of $66.48. The stock’s 50 day simple moving average is $38.42 and its two-hundred day simple moving average is $40.28. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 2.14 and a beta of 2.63.

Callon Petroleum (NYSE:CPEGet Rating) last released its quarterly earnings data on Wednesday, November 2nd. The oil and natural gas company reported $4.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.00 by $0.04. The business had revenue of $835.88 million for the quarter, compared to the consensus estimate of $699.68 million. Callon Petroleum had a return on equity of 38.40% and a net margin of 37.99%. As a group, equities analysts anticipate that Callon Petroleum will post 14.85 earnings per share for the current fiscal year.

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.

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

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