Vaughan Nelson Investment Management L.P. Reduces Stake in Callon Petroleum (CPE)

Vaughan Nelson Investment Management L.P. decreased its holdings in Callon Petroleum (NYSE:CPE) by 23.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,030,057 shares of the oil and natural gas company’s stock after selling 1,212,743 shares during the period. Vaughan Nelson Investment Management L.P. owned about 2.00% of Callon Petroleum worth $53,358,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CPE. Bank of Montreal Can increased its holdings in shares of Callon Petroleum by 17.7% in the 4th quarter. Bank of Montreal Can now owns 263,960 shares of the oil and natural gas company’s stock valued at $3,206,000 after purchasing an additional 39,748 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Callon Petroleum by 4.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 942,655 shares of the oil and natural gas company’s stock valued at $11,454,000 after purchasing an additional 36,961 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Callon Petroleum in the 4th quarter valued at about $234,000. Texas Permanent School Fund increased its holdings in shares of Callon Petroleum by 3.4% in the 4th quarter. Texas Permanent School Fund now owns 136,434 shares of the oil and natural gas company’s stock valued at $1,658,000 after purchasing an additional 4,465 shares during the period. Finally, MHI Funds LLC acquired a new position in shares of Callon Petroleum in the 4th quarter valued at about $161,000.

Shares of Callon Petroleum opened at $13.32 on Wednesday, MarketBeat reports. Callon Petroleum has a 12 month low of $9.34 and a 12 month high of $14.65. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 31.71, a P/E/G ratio of 0.34 and a beta of 1.20.

Callon Petroleum (NYSE:CPE) last announced its quarterly earnings results on Tuesday, February 27th. The oil and natural gas company reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. Callon Petroleum had a return on equity of 5.98% and a net margin of 31.28%. The company had revenue of $118.21 million for the quarter, compared to the consensus estimate of $109.95 million. sell-side analysts anticipate that Callon Petroleum will post 0.91 earnings per share for the current fiscal year.

A number of brokerages have recently weighed in on CPE. Jefferies Group set a $18.00 target price on Callon Petroleum and gave the company a “buy” rating in a report on Wednesday, March 14th. Piper Jaffray Companies reiterated a “buy” rating and issued a $16.00 target price on shares of Callon Petroleum in a report on Thursday, March 15th. Stifel Nicolaus set a $20.00 target price on Callon Petroleum and gave the company a “buy” rating in a report on Wednesday, March 28th. B. Riley set a $12.00 target price on Callon Petroleum and gave the company a “hold” rating in a report on Friday, March 9th. Finally, Deutsche Bank began coverage on Callon Petroleum in a report on Thursday, February 1st. They issued a “buy” rating and a $15.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $16.42.

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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