PNC Financial Services Group Inc. grew its holdings in Callon Petroleum (NYSE:CPE) by 122.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,287 shares of the oil and natural gas company’s stock after acquiring an additional 1,258 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Callon Petroleum were worth $131,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Swiss National Bank bought a new stake in shares of Callon Petroleum in the second quarter valued at approximately $5,867,000. American Century Companies Inc. lifted its position in Callon Petroleum by 65.0% in the second quarter. American Century Companies Inc. now owns 119,513 shares of the oil and natural gas company’s stock worth $6,895,000 after purchasing an additional 47,089 shares during the period. Rhumbline Advisers lifted its position in Callon Petroleum by 53.5% in the second quarter. Rhumbline Advisers now owns 132,084 shares of the oil and natural gas company’s stock worth $7,620,000 after purchasing an additional 46,045 shares during the period. Congress Asset Management Co. MA bought a new position in Callon Petroleum in the second quarter worth $3,648,000. Finally, GSA Capital Partners LLP bought a new position in Callon Petroleum in the second quarter worth $357,000. 77.44% of the stock is owned by institutional investors.
Shares of CPE opened at $35.44 on Tuesday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 3.78. Callon Petroleum has a 1 year low of $4.50 and a 1 year high of $60.51. The stock has a market cap of $1.64 billion, a P/E ratio of -1.11 and a beta of 3.48. The stock’s 50-day moving average price is $35.53 and its two-hundred day moving average price is $39.86.
CPE has been the subject of several research reports. Morgan Stanley reduced their target price on Callon Petroleum from $49.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, August 23rd. Zacks Investment Research raised Callon Petroleum from a “hold” rating to a “strong-buy” rating and set a $44.00 target price for the company in a research report on Monday, May 31st. Wells Fargo & Company dropped their price objective on Callon Petroleum from $52.00 to $49.00 and set an “underweight” rating for the company in a research note on Monday, August 23rd. MKM Partners upgraded Callon Petroleum from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $47.00 to $54.00 in a research note on Monday, July 19th. Finally, Royal Bank of Canada lowered Callon Petroleum from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $44.00 to $54.00 in a research note on Thursday, June 10th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Callon Petroleum presently has a consensus rating of “Hold” and a consensus target price of $34.64.
In related news, Director S P. Iv Johnson sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, July 19th. The stock was sold at an average price of $37.95, for a total transaction of $45,540.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by insiders.
Callon Petroleum Company Profile
Callon Petroleum Co engages in the exploration, development, acquisition and production of oil and natural gas properties in the United States. It focuses on unconventional oil and natural gas reserves in the Permian Basin. The company was founded by Sim C. Callon and John S. Callon in 1950 and is headquartered in Houston, TX.
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