Callon Petroleum Company (CPE) Holdings Cut by Van ECK Associates Corp
Van ECK Associates Corp decreased its holdings in shares of Callon Petroleum Company (NYSE:CPE) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,276,600 shares of the oil and natural gas company’s stock after selling 127,300 shares during the quarter. Van ECK Associates Corp owned about 1.62% of Callon Petroleum worth $36,829,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of CPE. Fondren Management LP acquired a new stake in shares of Callon Petroleum in the second quarter valued at $106,000. FFT Wealth Management LLC acquired a new stake in shares of Callon Petroleum in the second quarter valued at $113,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Callon Petroleum in the second quarter valued at $133,000. Intrust Bank NA acquired a new stake in shares of Callon Petroleum in the third quarter valued at $139,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Callon Petroleum in the third quarter valued at $142,000.
A number of equities research analysts have recently weighed in on the company. Northland Securities set a $18.00 price objective on Callon Petroleum and gave the company a “buy” rating in a research note on Monday, August 21st. Imperial Capital began coverage on Callon Petroleum in a research note on Tuesday, August 15th. They issued an “outperform” rating and a $16.00 price objective for the company. BMO Capital Markets set a $15.00 target price on Callon Petroleum and gave the company a “buy” rating in a report on Tuesday, October 10th. Bank of America Corporation began coverage on Callon Petroleum in a report on Monday, October 16th. They issued a “buy” rating for the company. Finally, BidaskClub lowered Callon Petroleum from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-two have assigned a buy rating to the stock. Callon Petroleum presently has an average rating of “Buy” and an average target price of $17.39.
Shares of Callon Petroleum Company (CPE) opened at $10.85 on Friday. The stock has a market capitalization of $2,145.52, a PE ratio of 29.53 and a beta of 1.38. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.32. Callon Petroleum Company has a fifty-two week low of $9.34 and a fifty-two week high of $18.53.
Callon Petroleum (NYSE:CPE) last announced its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.01). The business had revenue of $84.60 million for the quarter, compared to analysts’ expectations of $81.98 million. Callon Petroleum had a return on equity of 4.05% and a net margin of 30.20%. The firm’s quarterly revenue was up 51.3% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. sell-side analysts predict that Callon Petroleum Company will post 0.39 earnings per share for the current fiscal year.
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Callon Petroleum Profile
Callon Petroleum Company is an independent oil and natural gas company. The Company is engaged in the exploration, development, acquisition and production of oil and natural gas properties. The Company focuses on the acquisition and development of unconventional oil and natural gas reserves in the Permian Basin.
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