Callon Petroleum Company (CPE) Position Trimmed by Citigroup Inc.
Citigroup Inc. lowered its position in Callon Petroleum Company (NYSE:CPE) by 34.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 49,475 shares of the oil and natural gas company’s stock after selling 26,534 shares during the period. Citigroup Inc.’s holdings in Callon Petroleum were worth $525,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Callon Petroleum by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 16,158,249 shares of the oil and natural gas company’s stock worth $212,642,000 after buying an additional 667,220 shares during the period. FMR LLC boosted its holdings in Callon Petroleum by 15.7% in the 1st quarter. FMR LLC now owns 15,197,267 shares of the oil and natural gas company’s stock worth $199,996,000 after buying an additional 2,067,650 shares during the period. BlackRock Inc. boosted its holdings in Callon Petroleum by 7.0% in the 2nd quarter. BlackRock Inc. now owns 12,953,769 shares of the oil and natural gas company’s stock worth $137,439,000 after buying an additional 851,876 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Callon Petroleum by 56.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,333,603 shares of the oil and natural gas company’s stock worth $96,510,000 after buying an additional 2,642,192 shares during the period. Finally, State Street Corp boosted its holdings in Callon Petroleum by 30.5% in the 1st quarter. State Street Corp now owns 7,042,717 shares of the oil and natural gas company’s stock worth $92,685,000 after buying an additional 1,646,656 shares during the period.
Shares of Callon Petroleum Company (NYSE:CPE) opened at 10.97 on Friday. Callon Petroleum Company has a 12 month low of $9.34 and a 12 month high of $18.53. The stock has a market capitalization of $2.21 billion, a PE ratio of 20.90 and a beta of 1.43. The stock’s 50 day moving average is $10.78 and its 200 day moving average is $11.23.
Callon Petroleum (NYSE:CPE) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). The company had revenue of $82.30 million for the quarter, compared to the consensus estimate of $83.89 million. Callon Petroleum had a return on equity of 4.16% and a net margin of 34.61%. The business’s revenue for the quarter was up 82.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.61) earnings per share. Analysts anticipate that Callon Petroleum Company will post $0.48 earnings per share for the current fiscal year.
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CPE has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Callon Petroleum from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Royal Bank Of Canada set a $16.00 target price on shares of Callon Petroleum and gave the stock a “buy” rating in a report on Thursday, August 24th. Citigroup Inc. dropped their target price on shares of Callon Petroleum from $17.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, July 13th. BidaskClub cut shares of Callon Petroleum from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Finally, Jefferies Group LLC assumed coverage on shares of Callon Petroleum in a research note on Monday, October 9th. They issued a “buy” rating and a $16.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $17.50.
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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