Russell Investments Group Ltd. lessened its stake in Callon Petroleum (NYSE:CPE) by 38.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 429,370 shares of the oil and natural gas company’s stock after selling 265,678 shares during the quarter. Russell Investments Group Ltd.’s holdings in Callon Petroleum were worth $4,613,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in Callon Petroleum by 12.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 15,004,663 shares of the oil and natural gas company’s stock valued at $198,662,000 after buying an additional 1,705,244 shares during the period. Bank of New York Mellon Corp increased its stake in Callon Petroleum by 21.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,187,203 shares of the oil and natural gas company’s stock valued at $66,452,000 after buying an additional 1,095,098 shares during the period. Silvercrest Asset Management Group LLC increased its stake in Callon Petroleum by 11.1% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 5,891,730 shares of the oil and natural gas company’s stock valued at $78,006,000 after buying an additional 587,442 shares during the period. Northern Trust Corp grew its position in Callon Petroleum by 13.8% in the first quarter. Northern Trust Corp now owns 5,762,202 shares of the oil and natural gas company’s stock worth $76,291,000 after acquiring an additional 699,715 shares in the last quarter. Finally, Channing Capital Management LLC grew its position in Callon Petroleum by 65.6% in the second quarter. Channing Capital Management LLC now owns 5,709,338 shares of the oil and natural gas company’s stock worth $61,319,000 after acquiring an additional 2,262,652 shares in the last quarter.

NYSE CPE opened at $11.67 on Friday. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.44. The firm has a market cap of $2.67 billion, a P/E ratio of 17.51 and a beta of 1.10. Callon Petroleum has a 1 year low of $9.75 and a 1 year high of $14.65.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings data on Monday, August 6th. The oil and natural gas company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.01). The firm had revenue of $137.10 million for the quarter, compared to the consensus estimate of $133.66 million. Callon Petroleum had a return on equity of 7.25% and a net margin of 31.27%. Callon Petroleum’s quarterly revenue was up 66.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share. equities research analysts expect that Callon Petroleum will post 0.86 earnings per share for the current year.

CPE has been the subject of several recent research reports. ValuEngine downgraded shares of Callon Petroleum from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Zacks Investment Research raised shares of Callon Petroleum from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Wednesday, July 18th. Barclays initiated coverage on shares of Callon Petroleum in a research report on Wednesday, August 29th. They issued an “overweight” rating and a $14.00 target price for the company. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $20.00 target price on shares of Callon Petroleum in a research report on Sunday, August 12th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $16.11.

Callon Petroleum 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.

Further Reading: Index Funds

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

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