Beck Capital Management LLC Increases Stake in Callon Petroleum (NYSE:CPE)

Beck Capital Management LLC grew its stake in Callon Petroleum (NYSE:CPE) by 53.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 79,366 shares of the oil and natural gas company’s stock after buying an additional 27,785 shares during the quarter. Beck Capital Management LLC owned 0.13% of Callon Petroleum worth $2,654,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in CPE. BlackRock Inc. increased its position in shares of Callon Petroleum by 1.3% in the 1st quarter. BlackRock Inc. now owns 8,101,107 shares of the oil and natural gas company’s stock valued at $270,901,000 after purchasing an additional 101,849 shares during the last quarter. Vanguard Group Inc. increased its holdings 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 valued at $231,419,000 after buying an additional 1,210,001 shares during the last quarter. State Street Corp lifted its holdings in Callon Petroleum by 8.6% during the 3rd 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 boosted its position in shares of Callon Petroleum by 54.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,754,939 shares of the oil and natural gas company’s stock worth $92,124,000 after acquiring an additional 975,132 shares in the last quarter. Finally, Marshall Wace LLP raised its position in shares of Callon Petroleum by 27.6% during the 4th quarter. Marshall Wace LLP now owns 958,436 shares of the oil and natural gas company’s stock worth $35,548,000 after acquiring an additional 207,514 shares in the last quarter. 92.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Citigroup raised Callon Petroleum from a “neutral” rating to a “buy” rating and upped their price target for the company from $40.00 to $45.00 in a report on Wednesday, August 16th. Morgan Stanley upped their price objective on shares of Callon Petroleum from $40.00 to $41.00 and gave the company an “equal weight” rating in a research note on Friday, August 18th. StockNews.com downgraded Callon Petroleum from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Stifel Nicolaus dropped their price target on Callon Petroleum from $58.00 to $53.00 in a research note on Tuesday, May 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $50.00 price objective on shares of Callon Petroleum in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $50.43.

Callon Petroleum Price Performance

Shares of Callon Petroleum stock traded down $0.55 during trading on Friday, reaching $39.76. The company’s stock had a trading volume of 1,301,118 shares, compared to its average volume of 1,233,539. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $2.71 billion, a P/E ratio of 2.63 and a beta of 2.74. The business has a 50 day moving average price of $36.47 and a 200-day moving average price of $34.83. Callon Petroleum has a 12-month low of $28.91 and a 12-month high of $50.19.

Callon Petroleum (NYSE:CPE) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.21. The firm had revenue of $562.30 million during the quarter, compared to the consensus estimate of $561.08 million. Callon Petroleum had a return on equity of 21.41% and a net margin of 35.11%. The company’s quarterly revenue was down 38.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.68 EPS. As a group, sell-side analysts anticipate that Callon Petroleum will post 7.49 EPS for the current year.

Callon Petroleum Profile

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, exploration, and development of oil and natural gas properties in West Texas. The company was founded in 1950 and is headquartered in Houston, Texas.