Bank of America Corp DE lessened its holdings in Callon Petroleum (NYSE:CPE) by 19.3% during the 4th quarter, Holdings Channel reports. The firm owned 2,046,522 shares of the oil and natural gas company’s stock after selling 490,571 shares during the period. Bank of America Corp DE’s holdings in Callon Petroleum were worth $13,283,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CPE. BlackRock Inc. lifted its holdings in Callon Petroleum by 5.2% in the fourth quarter. BlackRock Inc. now owns 26,888,623 shares of the oil and natural gas company’s stock valued at $174,508,000 after buying an additional 1,326,915 shares during the period. Vanguard Group Inc boosted its holdings in Callon Petroleum by 3.1% during the third quarter. Vanguard Group Inc now owns 20,395,498 shares of the oil and natural gas company’s stock worth $244,542,000 after buying an additional 615,053 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Callon Petroleum by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 20,395,498 shares of the oil and natural gas company’s stock valued at $244,542,000 after acquiring an additional 615,053 shares during the period. Glenmede Trust Co. NA grew its holdings in Callon Petroleum by 9.2% during the third quarter. Glenmede Trust Co. NA now owns 6,053,655 shares of the oil and natural gas company’s stock valued at $72,582,000 after purchasing an additional 509,819 shares during the period. Finally, Key Group Holdings Cayman LTD. increased its stake in Callon Petroleum by 16.6% in the third quarter. Key Group Holdings Cayman LTD. now owns 3,836,027 shares of the oil and natural gas company’s stock valued at $45,994,000 after purchasing an additional 545,274 shares in the last quarter.

Shares of Callon Petroleum stock opened at $7.82 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.49. Callon Petroleum has a 12-month low of $5.57 and a 12-month high of $14.65. The firm has a market cap of $1.76 billion, a P/E ratio of 9.54, a P/E/G ratio of 0.77 and a beta of 1.53.

Several research firms have weighed in on CPE. Williams Capital reiterated a “buy” rating and issued a $12.00 target price on shares of Callon Petroleum in a report on Wednesday, December 12th. Zacks Investment Research raised shares of Callon Petroleum from a “strong sell” rating to a “hold” rating in a report on Monday, March 18th. Citigroup raised shares of Callon Petroleum from a “neutral” rating to a “buy” rating and set a $11.00 price target for the company in a report on Wednesday, January 23rd. Morgan Stanley initiated coverage on shares of Callon Petroleum in a research note on Thursday, March 21st. They issued an “equal weight” rating and a $9.00 price target on the stock. Finally, Imperial Capital reaffirmed an “outperform” rating and set a $15.00 price target (up from $12.00) on shares of Callon Petroleum in a report on Wednesday, February 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Callon Petroleum presently has an average rating of “Buy” and an average price target of $14.29.

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Callon Petroleum Profile

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional onshore, oil, and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2017, its estimated net proved reserves totaled 137.0 million barrel of oil equivalent.

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

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