Cannell Capital LLC reduced its position in shares of Callon Petroleum Company (NYSE:CPE) by 35.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 557,453 shares of the company’s stock after selling 312,839 shares during the period. Callon Petroleum Company makes up about 3.5% of Cannell Capital LLC’s holdings, making the stock its 7th largest position. Cannell Capital LLC’s holdings in Callon Petroleum Company were worth $8,752,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. Meeder Asset Management Inc. raised its stake in Callon Petroleum Company by 593.3% in the third quarter. Meeder Asset Management Inc. now owns 7,592 shares of the company’s stock worth $119,000 after buying an additional 6,497 shares in the last quarter. Sei Investments Co. raised its stake in Callon Petroleum Company by 607.0% in the third quarter. Sei Investments Co. now owns 8,321 shares of the company’s stock worth $131,000 after buying an additional 7,144 shares in the last quarter. Capital Fund Management S.A. purchased a new stake in Callon Petroleum Company during the second quarter worth approximately $116,000. Advisor Group Inc. raised its stake in Callon Petroleum Company by 129.8% in the third quarter. Advisor Group Inc. now owns 11,293 shares of the company’s stock worth $177,000 after buying an additional 6,379 shares in the last quarter. Finally, Nine Chapters Capital Management LLC purchased a new stake in Callon Petroleum Company during the third quarter worth approximately $196,000. 89.06% of the stock is owned by institutional investors.
Shares of Callon Petroleum Company (NYSE:CPE) opened at 14.22 on Monday. The company’s market capitalization is $2.29 billion. Callon Petroleum Company has a 52-week low of $5.70 and a 52-week high of $18.53. The stock has a 50 day moving average price of $15.19 and a 200 day moving average price of $14.72.
A number of analysts have recently issued reports on CPE shares. KLR Group set a $24.00 price target on shares of Callon Petroleum Company and gave the stock a “buy” rating in a research report on Sunday, December 18th. RBC Capital Markets reissued a “buy” rating and issued a $21.00 price target on shares of Callon Petroleum Company in a research report on Wednesday, January 4th. FBR & Co reissued an “outperform” rating and issued a $20.00 price target on shares of Callon Petroleum Company in a research report on Wednesday, December 21st. Mizuho increased their price target on shares of Callon Petroleum Company from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 14th. Finally, TheStreet raised shares of Callon Petroleum Company from a “sell” rating to a “hold” rating in a research report on Thursday, November 3rd. Four investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. Callon Petroleum Company presently has an average rating of “Buy” and an average price target of $17.27.
Callon Petroleum Company Company Profile
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. It focuses on unconventional, onshore, oil and natural gas reserves in the Permian Basin in West Texas and the Midland Basin.
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