Seven Eight Capital LP Acquires Shares of 64,718 Callon Petroleum (CPE)

Seven Eight Capital LP acquired a new position in shares of Callon Petroleum (NYSE:CPE) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 64,718 shares of the oil and natural gas company’s stock, valued at approximately $776,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CPE. First Hawaiian Bank purchased a new position in shares of Callon Petroleum during the 3rd quarter valued at $107,000. Prospera Financial Services Inc purchased a new position in shares of Callon Petroleum during the 2nd quarter valued at $113,000. Marietta Investment Partners LLC purchased a new position in shares of Callon Petroleum during the 2nd quarter valued at $153,000. HPM Partners LLC purchased a new position in shares of Callon Petroleum during the 2nd quarter valued at $161,000. Finally, Cerebellum GP LLC purchased a new position in shares of Callon Petroleum during the 2nd quarter valued at $174,000.

CPE stock opened at $10.13 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.61 and a quick ratio of 2.61. Callon Petroleum has a 1 year low of $9.75 and a 1 year high of $14.65. The firm has a market capitalization of $2.32 billion, a P/E ratio of 15.24 and a beta of 1.02.



Callon Petroleum (NYSE:CPE) last released its quarterly earnings data on Monday, August 6th. The oil and natural gas company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). Callon Petroleum had a net margin of 31.27% and a return on equity of 7.25%. The business had revenue of $137.10 million during the quarter, compared to analyst estimates of $133.66 million. During the same period in the previous year, the firm posted $0.09 EPS. The firm’s revenue for the quarter was up 66.6% on a year-over-year basis. Equities analysts forecast that Callon Petroleum will post 0.86 earnings per share for the current year.

In related news, VP Mitzi P. Conn sold 15,000 shares of Callon Petroleum stock in a transaction on Tuesday, September 18th. The shares were 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 approximately $494,649.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.82% of the stock is currently owned by insiders.

Several research firms have recently commented on CPE. Oppenheimer began coverage on shares of Callon Petroleum in a report on Wednesday, October 3rd. They set an “outperform” rating and a $16.00 price target on the stock. ValuEngine upgraded shares of Callon Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, September 13th. TheStreet upgraded shares of Callon Petroleum from a “c+” rating to a “b-” rating in a report on Monday, September 17th. Piper Jaffray Companies restated a “buy” rating and set a $20.00 price target on shares of Callon Petroleum in a report on Sunday, August 12th. Finally, Stephens set a $20.00 price target on shares of Callon Petroleum and gave the company a “buy” rating in a report on Wednesday, July 25th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Callon Petroleum has an average rating of “Buy” and an average target price of $16.15.

Callon Petroleum Company 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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