Callon Petroleum (CPE) Position Reduced by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC cut its stake in Callon Petroleum (NYSE:CPE) by 53.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 493,431 shares of the oil and natural gas company’s stock after selling 575,982 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.24% of Callon Petroleum worth $5,995,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky increased its holdings in Callon Petroleum by 244.8% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 43,100 shares of the oil and natural gas company’s stock valued at $524,000 after buying an additional 30,600 shares in the last quarter. Luminus Management LLC increased its holdings in Callon Petroleum by 91.3% in the fourth quarter. Luminus Management LLC now owns 4,885,260 shares of the oil and natural gas company’s stock valued at $59,356,000 after buying an additional 2,330,958 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Callon Petroleum by 1.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 9,044,597 shares of the oil and natural gas company’s stock valued at $109,891,000 after buying an additional 152,860 shares in the last quarter. Guggenheim Capital LLC increased its holdings in Callon Petroleum by 93.1% in the fourth quarter. Guggenheim Capital LLC now owns 118,569 shares of the oil and natural gas company’s stock valued at $1,442,000 after buying an additional 57,174 shares in the last quarter. Finally, Baker Avenue Asset Management LP increased its holdings in Callon Petroleum by 9.1% in the fourth quarter. Baker Avenue Asset Management LP now owns 136,975 shares of the oil and natural gas company’s stock valued at $1,664,000 after buying an additional 11,437 shares in the last quarter.

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A number of brokerages have issued reports on CPE. SunTrust Banks set a $18.00 target price on shares of Callon Petroleum and gave the company a “buy” rating in a report on Monday. Stifel Nicolaus set a $20.00 target price on shares of Callon Petroleum and gave the company a “buy” rating in a report on Wednesday, March 28th. Citigroup cut shares of Callon Petroleum from a “buy” rating to a “neutral” rating and set a $13.00 target price for the company. in a report on Wednesday, January 3rd. Mizuho set a $15.00 target price on shares of Callon Petroleum and gave the company a “buy” rating in a report on Tuesday, January 16th. Finally, TheStreet raised shares of Callon Petroleum from a “c+” rating to a “b-” rating in a report on Wednesday, April 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. Callon Petroleum presently has a consensus rating of “Buy” and an average target price of $16.42.

Shares of CPE opened at $13.27 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.70 and a quick ratio of 0.70. Callon Petroleum has a 1-year low of $9.34 and a 1-year high of $13.43. The company has a market cap of $2,649.45, a PE ratio of 30.51 and a beta of 1.18.

Callon Petroleum (NYSE:CPE) last issued its quarterly earnings data on Tuesday, February 27th. The oil and natural gas company reported $0.15 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.15. Callon Petroleum had a net margin of 32.86% and a return on equity of 5.02%. The business had revenue of $118.21 million during the quarter, compared to analysts’ expectations of $109.95 million. sell-side analysts expect that Callon Petroleum will post 0.88 earnings per share for the current fiscal year.

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About Callon Petroleum

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.

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

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