Cornercap Investment Counsel Inc. Purchases Shares of 13,090 Callon Petroleum (NYSE:CPE)

Cornercap Investment Counsel Inc. acquired a new position in Callon Petroleum (NYSE:CPE) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 13,090 shares of the oil and natural gas company’s stock, valued at approximately $424,000.

Several other large investors have also recently made changes to their positions in CPE. State of Wyoming acquired a new stake in Callon Petroleum in the 2nd quarter valued at approximately $30,000. Lazard Asset Management LLC acquired a new stake in Callon Petroleum in the 2nd quarter valued at approximately $40,000. PNC Financial Services Group Inc. increased its holdings in Callon Petroleum by 25.2% in 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 purchasing an additional 462 shares during the last quarter. Point72 Hong Kong Ltd increased its holdings in Callon Petroleum by 14.5% in 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 purchasing an additional 291 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Callon Petroleum in the 3rd quarter valued at approximately $98,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Callon Petroleum Stock Performance

Shares of Callon Petroleum stock opened at $35.76 on Thursday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.48. The company’s 50-day simple moving average is $33.57 and its 200-day simple moving average is $33.67. Callon Petroleum has a 52-week low of $28.62 and a 52-week high of $41.36. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 5.87 and a beta of 2.46.

Callon Petroleum (NYSE:CPE) last released its quarterly earnings results on Monday, February 26th. The oil and natural gas company reported $1.62 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.12). Callon Petroleum had a net margin of 17.12% and a return on equity of 12.65%. The business had revenue of $601.36 million during the quarter, compared to analyst estimates of $563.30 million. As a group, equities research analysts anticipate that Callon Petroleum will post 6.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CPE has been the subject of several research reports. Mizuho dropped their target price on shares of Callon Petroleum from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, March 15th. Stifel Nicolaus restated a “hold” rating and issued a $32.00 price target (down previously from $44.00) on shares of Callon Petroleum in a research note on Tuesday, January 23rd. Finally, StockNews.com assumed coverage on shares of Callon Petroleum in a research note on Saturday, April 13th. They issued a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $40.33.

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. Callon Petroleum Company was founded in 1950 and is headquartered in Houston, Texas.