Callon Petroleum (CPE) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in shares of Callon Petroleum (NYSE:CPE) by 948.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 850,030 shares of the oil and natural gas company’s stock after purchasing an additional 768,987 shares during the period. Principal Financial Group Inc. owned approximately 0.42% of Callon Petroleum worth $9,555,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. ETRADE Capital Management LLC grew its position in shares of Callon Petroleum by 0.6% during the second quarter. ETRADE Capital Management LLC now owns 42,015 shares of the oil and natural gas company’s stock valued at $446,000 after purchasing an additional 239 shares in the last quarter. Hodges Capital Management Inc. grew its position in shares of Callon Petroleum by 0.5% during the second quarter. Hodges Capital Management Inc. now owns 61,300 shares of the oil and natural gas company’s stock valued at $650,000 after purchasing an additional 300 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of Callon Petroleum by 2.0% during the second quarter. Teacher Retirement System of Texas now owns 16,367 shares of the oil and natural gas company’s stock valued at $174,000 after purchasing an additional 317 shares in the last quarter. Blair William & Co. IL grew its position in shares of Callon Petroleum by 2.6% during the second quarter. Blair William & Co. IL now owns 26,138 shares of the oil and natural gas company’s stock valued at $277,000 after purchasing an additional 670 shares in the last quarter. Finally, Renaissance Group LLC grew its position in shares of Callon Petroleum by 2.4% during the second quarter. Renaissance Group LLC now owns 28,366 shares of the oil and natural gas company’s stock valued at $301,000 after purchasing an additional 676 shares in the last quarter.

Callon Petroleum (NYSE:CPE) traded down $0.16 during trading on Tuesday, hitting $11.34. 6,452,000 shares of the stock traded hands, compared to its average volume of 4,976,107. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.32. Callon Petroleum has a 1 year low of $9.34 and a 1 year high of $18.00. The company has a market capitalization of $2,321.12, a P/E ratio of 31.94 and a beta of 1.33.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.01). Callon Petroleum had a net margin of 30.20% and a return on equity of 4.05%. The company had revenue of $84.60 million for the quarter, compared to the consensus estimate of $81.98 million. During the same period in the prior year, the firm posted $0.09 EPS. The business’s revenue was up 51.3% on a year-over-year basis. research analysts expect that Callon Petroleum will post 0.39 earnings per share for the current year.

Several research analysts recently commented on CPE shares. Scotiabank set a $16.00 price target on Callon Petroleum and gave the stock a “buy” rating in a research report on Saturday, November 25th. BMO Capital Markets set a $15.00 price target on Callon Petroleum and gave the stock a “buy” rating in a research report on Tuesday, October 10th. Mizuho upgraded Callon Petroleum from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Tuesday, November 21st. Imperial Capital started coverage on Callon Petroleum in a research report on Tuesday, August 15th. They issued an “outperform” rating and a $16.00 price target for the company. Finally, Bank of America started coverage on Callon Petroleum in a research report on Monday, October 16th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-two have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $17.43.

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About Callon Petroleum

Callon Petroleum Company is an independent oil and natural gas company. The Company is engaged in the exploration, development, acquisition and production of oil and natural gas properties. The Company focuses on the acquisition and development of unconventional oil and natural gas reserves in the Permian Basin.

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

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