Viking Fund Management LLC cut its stake in Callon Petroleum (NYSE:CPE) by 40.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 220,000 shares of the oil and natural gas company’s stock after selling 150,000 shares during the quarter. Viking Fund Management LLC owned approximately 0.10% of Callon Petroleum worth $1,661,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CPE. Thrivent Financial for Lutherans raised its position in shares of Callon Petroleum by 208.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,823,096 shares of the oil and natural gas company’s stock valued at $50,772,000 after purchasing an additional 5,285,401 shares during the period. BlackRock Inc. raised its position in shares of 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 purchasing an additional 1,326,915 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Callon Petroleum by 25.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,264,141 shares of the oil and natural gas company’s stock valued at $40,655,000 after purchasing an additional 1,268,538 shares during the period. Norges Bank bought a new position in shares of Callon Petroleum in the fourth quarter valued at about $6,803,000. Finally, Weiss Multi Strategy Advisers LLC raised its position in shares of Callon Petroleum by 313.7% in the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 1,224,550 shares of the oil and natural gas company’s stock valued at $7,947,000 after purchasing an additional 928,550 shares during the period.

Several research firms recently commented on CPE. Williams Capital restated a “buy” rating and issued a $12.00 price target on shares of Callon Petroleum in a research note on Tuesday, April 9th. Zacks Investment Research upgraded shares of Callon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Monday, March 18th. Citigroup upgraded shares of Callon Petroleum from a “neutral” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Wednesday, January 23rd. Morgan Stanley began 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 restated an “outperform” rating and issued a $15.00 price target (up from $12.00) on shares of Callon Petroleum in a research note on Wednesday, February 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company. Callon Petroleum has an average rating of “Buy” and a consensus price target of $14.29.

Shares of CPE stock traded down $0.12 on Monday, reaching $8.09. The company had a trading volume of 201,288 shares, compared to its average volume of 5,391,484. The stock has a market capitalization of $1.87 billion, a P/E ratio of 9.83, a price-to-earnings-growth ratio of 0.78 and a beta of 1.53. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.49. Callon Petroleum has a one year low of $5.57 and a one year high of $14.65.

Callon Petroleum (NYSE:CPE) last posted its earnings results on Tuesday, February 26th. The oil and natural gas company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.05). The company had revenue of $161.90 million during the quarter, compared to the consensus estimate of $164.50 million. Callon Petroleum had a return on equity of 8.11% and a net margin of 51.11%. As a group, equities analysts predict that Callon Petroleum will post 0.88 EPS for the current fiscal year.

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Callon Petroleum Company 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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