Westwood Holdings Group Inc. lifted its position in Callon Petroleum (NYSE:CPE) by 11.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,247,812 shares of the oil and natural gas company’s stock after purchasing an additional 656,502 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Callon Petroleum were worth $41,172,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Callon Petroleum in the second quarter valued at about $68,000. Miller Investment Management LP purchased a new stake in shares of Callon Petroleum in the first quarter valued at about $76,000. Signaturefd LLC grew its holdings in shares of Callon Petroleum by 50.1% in the first quarter. Signaturefd LLC now owns 11,314 shares of the oil and natural gas company’s stock valued at $85,000 after purchasing an additional 3,777 shares during the period. Piedmont Investment Advisors Inc. purchased a new stake in shares of Callon Petroleum in the first quarter valued at about $99,000. Finally, Advisory Services Network LLC grew its holdings in shares of Callon Petroleum by 2,194.3% in the second quarter. Advisory Services Network LLC now owns 14,982 shares of the oil and natural gas company’s stock valued at $99,000 after purchasing an additional 14,329 shares during the period.

Shares of NYSE CPE traded up $0.02 during midday trading on Friday, hitting $4.56. The company’s stock had a trading volume of 6,733,330 shares, compared to its average volume of 16,008,862. The business’s fifty day simple moving average is $4.46 and its two-hundred day simple moving average is $6.33. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.47 and a quick ratio of 0.47. Callon Petroleum has a 1 year low of $3.75 and a 1 year high of $13.09. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 5.56, a price-to-earnings-growth ratio of 0.58 and a beta of 1.46.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings data on Tuesday, August 6th. The oil and natural gas company reported $0.18 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. Callon Petroleum had a net margin of 35.72% and a return on equity of 7.57%. The business had revenue of $167.05 million during the quarter, compared to analyst estimates of $163.05 million. During the same quarter last year, the firm posted $0.23 earnings per share. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. Analysts anticipate that Callon Petroleum will post 0.75 EPS for the current fiscal year.

CPE has been the subject of several research analyst reports. Capital One Financial raised shares of Callon Petroleum from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 23rd. Barclays lowered their target price on shares of Callon Petroleum from $9.00 to $6.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Morgan Stanley set a $8.00 target price on shares of Callon Petroleum and gave the stock a “hold” rating in a research note on Monday, June 24th. Northland Securities reaffirmed a “buy” rating and set a $10.00 target price on shares of Callon Petroleum in a research note on Wednesday, August 7th. Finally, Roth Capital set a $12.00 target price on shares of Callon Petroleum and gave the stock a “buy” rating in a research note on Friday, June 14th. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $11.47.

About Callon Petroleum

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 and southeastern New Mexico. As of December 31, 2018, its estimated net proved reserves totaled 238.5 million barrel of oil equivalent, including 180.1 MMBbls of oil and 350.5 Bcf of natural gas.

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

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