Janney Montgomery Scott LLC raised its stake in shares of Callon Petroleum (NYSE:CPE) by 45.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,800 shares of the oil and natural gas company’s stock after purchasing an additional 19,005 shares during the period. Janney Montgomery Scott LLC’s holdings in Callon Petroleum were worth $33,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Texas Capital Bank Wealth Management Services Inc. purchased a new position in Callon Petroleum during the first quarter valued at $72,000. Texas Permanent School Fund lifted its holdings in Callon Petroleum by 24.7% during the first quarter. Texas Permanent School Fund now owns 331,273 shares of the oil and natural gas company’s stock valued at $182,000 after purchasing an additional 65,641 shares in the last quarter. Smith Graham & Co. Investment Advisors LP lifted its holdings in Callon Petroleum by 164.5% during the first quarter. Smith Graham & Co. Investment Advisors LP now owns 3,742,890 shares of the oil and natural gas company’s stock valued at $2,051,000 after purchasing an additional 2,327,790 shares in the last quarter. Fortem Financial Group LLC purchased a new position in Callon Petroleum during the first quarter valued at $112,000. Finally, 6 Meridian purchased a new position in Callon Petroleum during the first quarter valued at $75,000.

Shares of CPE opened at $0.74 on Friday. Callon Petroleum has a 1-year low of $0.38 and a 1-year high of $7.30. The stock has a market cap of $303.51 million, a PE ratio of 0.82 and a beta of 2.90. The firm has a 50-day simple moving average of $0.62 and a two-hundred day simple moving average of $2.57. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.61 and a quick ratio of 0.61.

Callon Petroleum (NYSE:CPE) last announced its quarterly earnings results on Monday, May 11th. The oil and natural gas company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.03). Callon Petroleum had a net margin of 37.61% and a return on equity of 7.24%. The company had revenue of $289.92 million for the quarter, compared to analyst estimates of $344.75 million. As a group, sell-side analysts expect that Callon Petroleum will post 0.4 earnings per share for the current fiscal year.

Several equities analysts have issued reports on CPE shares. Credit Suisse Group reaffirmed a “hold” rating and set a $1.00 price objective on shares of Callon Petroleum in a report on Friday, April 17th. Northland Securities reissued a “hold” rating and issued a $1.00 price target on shares of Callon Petroleum in a research note on Friday, April 17th. Bank of America downgraded shares of Callon Petroleum from a “neutral” rating to an “underperform” rating in a research note on Thursday, May 14th. ValuEngine downgraded shares of Callon Petroleum from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 3rd. Finally, Roth Capital downgraded shares of Callon Petroleum from a “buy” rating to a “neutral” rating in a research note on Friday, March 13th. Six equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company. Callon Petroleum currently has a consensus rating of “Hold” and a consensus target price of $5.88.

In other Callon Petroleum news, CAO Gregory F. Conaway acquired 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was purchased at an average price of $0.48 per share, for a total transaction of $96,000.00. Following the completion of the acquisition, the chief accounting officer now owns 122,908 shares of the company’s stock, valued at approximately $58,995.84. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven A. Webster acquired 300,000 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was acquired at an average price of $1.80 per share, with a total value of $540,000.00. Following the acquisition, the director now directly owns 5,344,924 shares of the company’s stock, valued at approximately $9,620,863.20. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 1,400,000 shares of company stock valued at $1,463,500. Company insiders own 2.80% of the company’s stock.

About Callon Petroleum

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 and southeastern New Mexico. As of December 31, 2018, its estimated net proved reserves totaled 238.5 million barrel of oil equivalent, including 180.1 MMBbls of oil and 350.5 Bcf of natural gas.

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

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