Callon Petroleum (NYSE:CPE) Shares Sold by Channing Capital Management LLC

Channing Capital Management LLC lowered its position in shares of Callon Petroleum (NYSE:CPE) by 25.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,055,650 shares of the oil and natural gas company’s stock after selling 369,936 shares during the quarter. Channing Capital Management LLC owned approximately 1.56% of Callon Petroleum worth $34,203,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in shares of Callon Petroleum by 2.8% during the third quarter. Bank of New York Mellon Corp now owns 626,546 shares of the oil and natural gas company’s stock worth $24,510,000 after purchasing an additional 17,115 shares during the last quarter. New York State Teachers Retirement System boosted its stake in Callon Petroleum by 6.7% in the 3rd quarter. New York State Teachers Retirement System now owns 55,924 shares of the oil and natural gas company’s stock worth $2,188,000 after buying an additional 3,496 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Callon Petroleum by 4.4% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 16,663 shares of the oil and natural gas company’s stock valued at $652,000 after buying an additional 700 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Callon Petroleum by 1.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 833,587 shares of the oil and natural gas company’s stock valued at $32,610,000 after acquiring an additional 12,234 shares during the last quarter. Finally, Yousif Capital Management LLC increased its stake in shares of Callon Petroleum by 1.1% during the 3rd quarter. Yousif Capital Management LLC now owns 27,642 shares of the oil and natural gas company’s stock valued at $1,081,000 after acquiring an additional 290 shares during the last quarter. 91.08% of the stock is owned by hedge funds and other institutional investors.

Callon Petroleum Price Performance

CPE remained flat at $35.76 during trading on Friday. Callon Petroleum has a 12 month low of $28.62 and a 12 month high of $41.36. The firm’s fifty day moving average price is $34.53 and its two-hundred day moving average price is $33.57. The company has a market capitalization of $2.38 billion, a P/E ratio of 5.87 and a beta of 2.46. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.39 and a quick ratio of 0.39.

Callon Petroleum (NYSE:CPE) last announced its quarterly earnings results on Monday, February 26th. The oil and natural gas company reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.12). Callon Petroleum had a return on equity of 12.65% and a net margin of 17.12%. The business had revenue of $601.36 million for the quarter, compared to analysts’ expectations of $563.30 million. Sell-side analysts expect that Callon Petroleum will post 6.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CPE shares. Mizuho lowered their target price on shares of Callon Petroleum from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, March 15th. StockNews.com assumed coverage on shares of Callon Petroleum in a research note on Monday, April 29th. They set a “hold” rating for the company. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $32.00 target price (down from $44.00) on shares of Callon Petroleum in a research report on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $40.33.

Callon Petroleum Company Profile

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, exploration, and development of oil and natural gas properties in West Texas. Callon Petroleum Company was founded in 1950 and is headquartered in Houston, Texas.