Callon Petroleum Company (NYSE:CPE) was the recipient of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 42,007,896 shares, a decline of 8.6% from the October 13th total of 45,950,314 shares. Based on an average daily volume of 3,274,095 shares, the short-interest ratio is currently 12.8 days. Currently, 21.1% of the company’s shares are sold short.

Callon Petroleum (CPE) opened at $10.16 on Friday. The firm has a market cap of $2,050.65, a PE ratio of 28.22 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 has a 1 year low of $9.34 and a 1 year high of $18.53.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.01). The company had revenue of $84.60 million for the quarter, compared to the consensus estimate of $81.98 million. Callon Petroleum had a net margin of 30.20% and a return on equity of 4.05%. Callon Petroleum’s quarterly revenue was up 51.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS. equities analysts forecast that Callon Petroleum will post 0.4 EPS for the current year.

Large investors have recently modified their holdings of the business. Vaughan Nelson Investment Management L.P. boosted its position in Callon Petroleum by 61.0% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 4,631,425 shares of the oil and natural gas company’s stock worth $52,057,000 after purchasing an additional 1,755,125 shares during the period. BlackRock Inc. boosted its position in Callon Petroleum by 96,684.2% during the first quarter. BlackRock Inc. now owns 12,101,893 shares of the oil and natural gas company’s stock worth $159,259,000 after purchasing an additional 12,089,389 shares during the period. Victory Capital Management Inc. boosted its position in Callon Petroleum by 24.0% during the second quarter. Victory Capital Management Inc. now owns 2,203,067 shares of the oil and natural gas company’s stock worth $23,375,000 after purchasing an additional 425,767 shares during the period. Rhumbline Advisers boosted its position in Callon Petroleum by 16.0% during the second quarter. Rhumbline Advisers now owns 250,714 shares of the oil and natural gas company’s stock worth $2,660,000 after purchasing an additional 34,532 shares during the period. Finally, Voya Investment Management LLC boosted its position in Callon Petroleum by 22.8% during the second quarter. Voya Investment Management LLC now owns 93,670 shares of the oil and natural gas company’s stock worth $994,000 after purchasing an additional 17,410 shares during the period.

A number of brokerages have recently issued reports on CPE. Jefferies Group LLC began coverage on shares of Callon Petroleum in a research report on Monday, October 9th. They issued a “buy” rating and a $16.00 price target on the stock. Northland Securities restated a “buy” rating and issued a $18.00 price target on shares of Callon Petroleum in a research report on Wednesday, November 1st. Zacks Investment Research upgraded shares of Callon Petroleum from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. BMO Capital Markets reiterated a “buy” rating and set a $15.00 target price on shares of Callon Petroleum in a research report on Wednesday, September 6th. Finally, BidaskClub downgraded shares of Callon Petroleum from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the stock. Callon Petroleum presently has a consensus rating of “Buy” and a consensus target price of $17.50.

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About Callon Petroleum

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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