Ellis Investment Partners LLC increased its position in shares of Callon Petroleum (NYSE:CPE – Get Rating) by 21.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,023 shares of the oil and natural gas company’s stock after purchasing an additional 7,303 shares during the quarter. Ellis Investment Partners LLC owned 0.07% of Callon Petroleum worth $1,436,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in Callon Petroleum by 4.1% during the third quarter. BlackRock Inc. now owns 7,831,506 shares of the oil and natural gas company’s stock worth $274,181,000 after purchasing an additional 308,578 shares during the last quarter. Vanguard Group Inc. increased its position in Callon Petroleum by 23.8% in the first quarter. Vanguard Group Inc. now owns 4,481,218 shares of the oil and natural gas company’s stock worth $264,750,000 after buying an additional 860,487 shares during the period. State Street Corp increased its position in Callon Petroleum by 19.3% in the first quarter. State Street Corp now owns 3,532,124 shares of the oil and natural gas company’s stock worth $208,678,000 after buying an additional 572,216 shares during the period. Dimensional Fund Advisors LP increased its position in Callon Petroleum by 13.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,518,491 shares of the oil and natural gas company’s stock worth $53,161,000 after buying an additional 180,612 shares during the period. Finally, FMR LLC increased its position in Callon Petroleum by 574.2% in the second quarter. FMR LLC now owns 1,507,959 shares of the oil and natural gas company’s stock worth $59,112,000 after buying an additional 1,284,307 shares during the period. 83.60% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. Truist Financial dropped their target price on Callon Petroleum from $59.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, February 21st. Morgan Stanley dropped their target price on Callon Petroleum from $60.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 24th. Mizuho assumed coverage on Callon Petroleum in a research report on Monday, January 9th. They issued a “buy” rating and a $59.00 target price on the stock. Finally, 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 report on Monday, December 5th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $61.38.
Callon Petroleum Stock Performance
Shares of CPE traded up $0.33 during trading hours on Thursday, reaching $40.11. 560,595 shares of the company’s stock traded hands, compared to its average volume of 1,185,682. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 2.03 and a beta of 2.70. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.42 and a quick ratio of 0.42. Callon Petroleum has a twelve month low of $31.23 and a twelve month high of $66.48. The business’s fifty day simple moving average is $38.87 and its two-hundred day simple moving average is $40.29.
Callon Petroleum (NYSE:CPE – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The oil and natural gas company reported $3.36 EPS for the quarter, missing analysts’ consensus estimates of $3.44 by ($0.08). The business had revenue of $704.25 million for the quarter, compared to analyst estimates of $617.42 million. Callon Petroleum had a net margin of 37.44% and a return on equity of 35.68%. During the same period last year, the business posted $2.66 earnings per share. Analysts predict that Callon Petroleum will post 12.37 earnings per share for the current year.
About Callon Petroleum
Callon Petroleum Co engages in the exploration, development, acquisition and production of oil and natural gas properties in the United States. It focuses on unconventional oil and natural gas reserves in the Permian Basin. The company was founded by Sim C. Callon and John S. Callon in 1950 and is headquartered in Houston, TX.
