Driehaus Capital Management LLC Acquires New Position in Callon Petroleum (CPE)
Driehaus Capital Management LLC acquired a new position in Callon Petroleum (NYSE:CPE) in the fourth quarter, Holdings Channel reports. The fund acquired 121,930 shares of the oil and natural gas company’s stock, valued at approximately $1,481,000.
Other large investors have also modified their holdings of the company. Zions Bancorporation bought a new position in Callon Petroleum in the third quarter worth approximately $105,000. BB&T Securities LLC bought a new position in Callon Petroleum in the third quarter worth approximately $112,000. Intrust Bank NA bought a new position in Callon Petroleum in the third quarter worth approximately $139,000. Virtu Financial LLC bought a new position in Callon Petroleum in the fourth quarter worth approximately $151,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Callon Petroleum in the second quarter worth approximately $133,000.
A number of equities analysts recently commented on the stock. Northland Securities set a $16.00 price objective on shares of Callon Petroleum and gave the stock a “buy” rating in a research note on Monday, December 11th. SunTrust Banks reissued a “buy” rating and issued a $16.00 price objective on shares of Callon Petroleum in a research note on Tuesday, February 6th. Zacks Investment Research downgraded shares of Callon Petroleum from a “hold” rating to a “sell” rating in a research note on Monday, February 5th. Jefferies Group reissued a “buy” rating and issued a $17.00 price objective on shares of Callon Petroleum in a research note on Tuesday, January 30th. Finally, Credit Suisse Group assumed coverage on shares of Callon Petroleum in a research note on Monday, December 11th. They issued a “neutral” rating and a $12.00 price objective for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $16.35.
Callon Petroleum (NYSE:CPE) last announced its quarterly earnings data on Tuesday, February 27th. The oil and natural gas company reported $0.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.15. The firm had revenue of $118.21 million for the quarter, compared to analyst estimates of $109.95 million. Callon Petroleum had a net margin of 32.86% and a return on equity of 5.02%. analysts predict that Callon Petroleum will post 0.86 EPS for the current fiscal year.
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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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