Callon Petroleum Target of Unusually Large Options Trading (CPE)

Callon Petroleum (NYSE:CPE) was the recipient of unusually large options trading on Wednesday. Investors purchased 2,137 put options on the company. This is an increase of approximately 1,261% compared to the typical volume of 157 put options.

Shares of CPE stock opened at $12.40 on Thursday. Callon Petroleum has a 12 month low of $9.75 and a 12 month high of $14.65. The company has a market cap of $2.73 billion, a PE ratio of 29.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.61 and a quick ratio of 2.61.

Callon Petroleum (NYSE:CPE) last issued its quarterly earnings results on Monday, August 6th. The oil and natural gas company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Callon Petroleum had a return on equity of 7.25% and a net margin of 31.27%. The business had revenue of $137.10 million for the quarter, compared to analyst estimates of $133.66 million. During the same quarter last year, the firm earned $0.09 earnings per share. The firm’s quarterly revenue was up 66.6% compared to the same quarter last year. Equities analysts anticipate that Callon Petroleum will post 0.86 earnings per share for the current fiscal year.

In other Callon Petroleum news, VP Mitzi P. Conn sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $11.76, for a total transaction of $176,400.00. Following the completion of the sale, the vice president now owns 42,062 shares of the company’s stock, valued at $494,649.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.63% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of CPE. PNC Financial Services Group Inc. lifted its holdings in shares of Callon Petroleum by 31.2% during the first quarter. PNC Financial Services Group Inc. now owns 28,188 shares of the oil and natural gas company’s stock worth $373,000 after buying an additional 6,704 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Callon Petroleum by 43.5% during the first quarter. BNP Paribas Arbitrage SA now owns 127,735 shares of the oil and natural gas company’s stock worth $1,691,000 after buying an additional 38,703 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Callon Petroleum by 55.1% during the first quarter. Sei Investments Co. now owns 47,493 shares of the oil and natural gas company’s stock worth $628,000 after buying an additional 16,876 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Callon Petroleum by 2.7% during the first quarter. Principal Financial Group Inc. now owns 875,735 shares of the oil and natural gas company’s stock worth $11,594,000 after buying an additional 23,399 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of Callon Petroleum by 56.2% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 41,299 shares of the oil and natural gas company’s stock worth $547,000 after buying an additional 14,865 shares during the last quarter.

A number of equities research analysts have issued reports on the company. Oppenheimer assumed coverage on Callon Petroleum in a research report on Wednesday, October 3rd. They set an “outperform” rating and a $16.00 target price for the company. ValuEngine raised Callon Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday, September 13th. TheStreet raised Callon Petroleum from a “c+” rating to a “b-” rating in a research report on Monday, September 17th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $20.00 target price on shares of Callon Petroleum in a research report on Sunday, August 12th. Finally, Stephens set a $20.00 target price on Callon Petroleum and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Callon Petroleum has a consensus rating of “Buy” and an average target price of $16.11.

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.

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