Callon Petroleum (NYSE:CPE) Shares Bought by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. increased its stake in Callon Petroleum (NYSE:CPE) by 52.7% during the first quarter, Holdings Channel reports. The institutional investor owned 5,591,310 shares of the oil and natural gas company’s stock after buying an additional 1,929,367 shares during the period. Westwood Holdings Group Inc.’s holdings in Callon Petroleum were worth $42,214,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. BlackRock Inc. raised its stake in Callon Petroleum by 5.2% in the 4th quarter. BlackRock Inc. now owns 26,888,623 shares of the oil and natural gas company’s stock valued at $174,508,000 after acquiring an additional 1,326,915 shares during the period. Dimensional Fund Advisors LP raised its stake in Callon Petroleum by 5.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 18,871,804 shares of the oil and natural gas company’s stock valued at $142,484,000 after acquiring an additional 1,050,335 shares during the period. Thrivent Financial for Lutherans raised its stake in Callon Petroleum by 208.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 7,823,096 shares of the oil and natural gas company’s stock valued at $50,772,000 after acquiring an additional 5,285,401 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Callon Petroleum by 25.4% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,264,141 shares of the oil and natural gas company’s stock valued at $40,655,000 after acquiring an additional 1,268,538 shares during the period. Finally, Northern Trust Corp raised its stake in Callon Petroleum by 1.3% in the 1st quarter. Northern Trust Corp now owns 6,047,909 shares of the oil and natural gas company’s stock valued at $45,662,000 after acquiring an additional 80,189 shares during the period.

A number of brokerages recently issued reports on CPE. Capital One Financial upgraded Callon Petroleum from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 23rd. Stephens set a $11.00 price objective on Callon Petroleum and gave the company a “buy” rating in a research note on Wednesday, May 22nd. SunTrust Banks set a $12.00 price objective on Callon Petroleum and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Williams Capital restated a “buy” rating and issued a $12.00 price objective on shares of Callon Petroleum in a research note on Tuesday, April 9th. Finally, Zacks Investment Research upgraded Callon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $13.63.

Shares of CPE traded up $0.23 during midday trading on Tuesday, hitting $6.39. 126,538 shares of the company traded hands, compared to its average volume of 7,127,153. Callon Petroleum has a one year low of $5.57 and a one year high of $13.09. The stock has a market cap of $1.43 billion, a PE ratio of 7.76, a P/E/G ratio of 0.64 and a beta of 1.54. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.55.

Callon Petroleum (NYSE:CPE) last announced its quarterly earnings results on Monday, May 6th. The oil and natural gas company reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.01. Callon Petroleum had a return on equity of 7.55% and a net margin of 36.70%. The firm had revenue of $153.05 million for the quarter, compared to analysts’ expectations of $144.68 million. During the same period in the prior year, the business posted $0.27 earnings per share. The company’s revenue was up 20.1% on a year-over-year basis. Analysts expect that Callon Petroleum will post 0.9 earnings per share for the current fiscal year.

WARNING: “Callon Petroleum (NYSE:CPE) Shares Bought by Westwood Holdings Group Inc.” was originally published by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this report on another website, it was stolen and republished in violation of U.S. & international trademark & copyright law. The legal version of this report can be accessed at https://sportsperspectives.com/2019/06/11/callon-petroleum-nysecpe-shares-bought-by-westwood-holdings-group-inc.html.

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 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.

Featured Story: Cost of Equity For A Business, Investors

Want to see what other hedge funds are holding CPE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Callon Petroleum (NYSE:CPE).

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

Receive News & Ratings for Callon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.