Hancock Whitney Corp decreased its stake in shares of Callon Petroleum (NYSE:CPE) by 2.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 513,868 shares of the oil and natural gas company’s stock after selling 11,453 shares during the period. Hancock Whitney Corp’s holdings in Callon Petroleum were worth $3,880,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. grew its stake in shares of Callon Petroleum by 830.8% in the 1st quarter. Rockefeller Capital Management L.P. now owns 3,593 shares of the oil and natural gas company’s stock worth $27,000 after purchasing an additional 3,207 shares during the last quarter. Private Capital Group LLC grew its stake in shares of Callon Petroleum by 135.5% in the 1st quarter. Private Capital Group LLC now owns 4,164 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 2,396 shares during the last quarter. Miller Investment Management LP acquired a new position in shares of Callon Petroleum in the 1st quarter worth approximately $76,000. Cornerstone Investment Partners LLC acquired a new position in shares of Callon Petroleum in the 1st quarter worth approximately $81,000. Finally, Cipher Capital LP acquired a new position in shares of Callon Petroleum in the 4th quarter worth approximately $72,000.
Several equities analysts have recently issued reports on CPE shares. Zacks Investment Research cut shares of Callon Petroleum from a “hold” rating to a “strong sell” rating in a research note on Friday, February 15th. Williams Capital reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Callon Petroleum in a research note on Wednesday, February 27th. Imperial Capital reaffirmed an “outperform” rating and issued a $15.00 price objective (up previously from $12.00) on shares of Callon Petroleum in a research note on Wednesday, February 13th. Capital One Financial cut shares of Callon Petroleum from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 20th. Finally, Morgan Stanley started coverage on shares of Callon Petroleum in a research note on Thursday, March 21st. They issued an “equal weight” rating and a $9.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $13.63.
Shares of CPE traded down $0.19 during midday trading on Wednesday, hitting $6.14. The stock had a trading volume of 96,988 shares, compared to its average volume of 6,301,478. Callon Petroleum has a fifty-two week low of $5.57 and a fifty-two week high of $13.09. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 7.50, a PEG ratio of 0.64 and a beta of 1.54. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.53 and a quick ratio of 0.53.
Callon Petroleum (NYSE:CPE) last announced its earnings results on Monday, May 6th. The oil and natural gas company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. Callon Petroleum had a net margin of 36.70% and a return on equity of 7.55%. The company had revenue of $153.05 million during the quarter, compared to analysts’ expectations of $144.68 million. During the same period last year, the company posted $0.27 earnings per share. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. Analysts anticipate that Callon Petroleum will post 0.9 earnings per share for the current year.
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Callon Petroleum 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 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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