Callon Petroleum (NYSE:CPE) Shares Acquired by Readystate Asset Management LP

Readystate Asset Management LP lifted its stake in shares of Callon Petroleum (NYSE:CPE) by 24.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 46,968 shares of the oil and natural gas company’s stock after purchasing an additional 9,077 shares during the quarter. Readystate Asset Management LP’s holdings in Callon Petroleum were worth $1,522,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CPE. BlackRock Inc. raised its holdings in shares of Callon Petroleum by 8.1% during the second quarter. BlackRock Inc. now owns 8,754,834 shares of the oil and natural gas company’s stock worth $307,032,000 after purchasing an additional 653,727 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Callon Petroleum by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 6,740,575 shares of the oil and natural gas company’s stock worth $218,395,000 after purchasing an additional 67,625 shares during the last quarter. State Street Corp raised its holdings in shares of Callon Petroleum by 8.8% during the second quarter. State Street Corp now owns 4,073,407 shares of the oil and natural gas company’s stock worth $142,854,000 after purchasing an additional 331,009 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Callon Petroleum by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,414,100 shares of the oil and natural gas company’s stock worth $110,620,000 after purchasing an additional 56,901 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CPE has been the subject of several recent research reports. Mizuho reduced their target price on shares of Callon Petroleum from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, March 15th. StockNews.com initiated coverage on shares of Callon Petroleum in a report on Saturday. They set a “hold” rating for the company. Finally, Stifel Nicolaus reissued a “hold” rating and set a $32.00 target price (down previously from $44.00) on shares of Callon Petroleum in a report on Tuesday, January 23rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Callon Petroleum currently has a consensus rating of “Hold” and an average target price of $40.33.

Callon Petroleum Price Performance

CPE remained flat at $35.76 on Wednesday. Callon Petroleum has a twelve month low of $28.62 and a twelve month high of $41.36. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.48. The business has a fifty day moving average price of $33.57 and a 200-day moving average price of $33.67. The firm has a market cap of $2.38 billion, a PE ratio of 5.87 and a beta of 2.46.

Callon Petroleum (NYSE:CPE) last released its quarterly earnings data on Monday, February 26th. The oil and natural gas company reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.12). Callon Petroleum had a net margin of 17.12% and a return on equity of 12.65%. The firm had revenue of $601.36 million during the quarter, compared to analysts’ expectations of $563.30 million. Equities research analysts expect that Callon Petroleum will post 6.56 earnings per share for the current fiscal year.

Callon Petroleum Company Profile

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, exploration, and development of oil and natural gas properties in West Texas. Callon Petroleum Company was founded in 1950 and is headquartered in Houston, Texas.