Bank of New York Mellon Corp raised its stake in shares of Callon Petroleum (NYSE:CPE) by 21.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,187,203 shares of the oil and natural gas company’s stock after buying an additional 1,095,098 shares during the quarter. Bank of New York Mellon Corp owned about 2.72% of Callon Petroleum worth $66,452,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CPE. BlackRock Inc. grew its holdings in Callon Petroleum by 14.9% during the 2nd quarter. BlackRock Inc. now owns 24,830,264 shares of the oil and natural gas company’s stock valued at $266,676,000 after buying an additional 3,218,124 shares in the last quarter. Columbus Circle Investors purchased a new position in Callon Petroleum during the 2nd quarter valued at about $32,328,000. Luminus Management LLC grew its holdings in Callon Petroleum by 65.4% during the 2nd quarter. Luminus Management LLC now owns 6,620,618 shares of the oil and natural gas company’s stock valued at $71,105,000 after buying an additional 2,618,965 shares in the last quarter. Channing Capital Management LLC grew its holdings in Callon Petroleum by 65.6% during the 2nd quarter. Channing Capital Management LLC now owns 5,709,338 shares of the oil and natural gas company’s stock valued at $61,319,000 after buying an additional 2,262,652 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Callon Petroleum by 15.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 17,261,443 shares of the oil and natural gas company’s stock valued at $185,390,000 after buying an additional 2,256,780 shares in the last quarter.

Several research analysts have recently commented on CPE shares. Oppenheimer started coverage on Callon Petroleum in a report on Wednesday, October 3rd. They set an “outperform” rating and a $16.00 price objective for the company. ValuEngine raised Callon Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, September 13th. TheStreet raised Callon Petroleum from a “c+” rating to a “b-” rating in a report on Monday, September 17th. Piper Jaffray Companies reissued a “buy” rating and set a $20.00 price objective on shares of Callon Petroleum in a report on Sunday, August 12th. Finally, Stephens set a $20.00 price objective on Callon Petroleum and gave the stock a “buy” rating in a report on Wednesday, July 25th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $16.24.

Shares of CPE opened at $9.64 on Wednesday. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 22.95 and a beta of 1.06. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.46. Callon Petroleum has a 1 year low of $9.23 and a 1 year high of $14.65.

Callon Petroleum (NYSE:CPE) last issued its earnings results on Tuesday, November 6th. The oil and natural gas company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The business had revenue of $161.21 million during the quarter, compared to analyst estimates of $145.66 million. Callon Petroleum had a return on equity of 8.31% and a net margin of 30.70%. Callon Petroleum’s revenue for the quarter was up 90.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 earnings per share. Sell-side analysts anticipate that Callon Petroleum will post 0.88 earnings per share for the current fiscal year.

In other Callon Petroleum news, VP Mitzi P. Conn sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $11.76, for a total value of $176,400.00. Following the completion of the sale, the vice president now owns 42,062 shares of the company’s stock, valued at $494,649.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.63% of the stock is owned by corporate insiders.

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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.

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

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