Callon Petroleum (NYSE:CPE) Shares Sold by abrdn plc

abrdn plc trimmed its holdings in Callon Petroleum (NYSE:CPE) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 423,405 shares of the oil and natural gas company’s stock after selling 19,631 shares during the period. abrdn plc’s holdings in Callon Petroleum were worth $13,718,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CPE. DekaBank Deutsche Girozentrale acquired a new stake in Callon Petroleum during the third quarter worth about $98,000. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Callon Petroleum by 315.8% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,757 shares of the oil and natural gas company’s stock valued at $108,000 after acquiring an additional 2,094 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Callon Petroleum during the fourth quarter valued at about $108,000. PNC Financial Services Group Inc. increased its position in shares of Callon Petroleum by 24.1% during the third quarter. PNC Financial Services Group Inc. now owns 4,171 shares of the oil and natural gas company’s stock valued at $163,000 after acquiring an additional 810 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new stake in shares of Callon Petroleum during the third quarter valued at about $213,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Callon Petroleum Stock Performance

NYSE CPE opened at $35.76 on Friday. The firm has a 50 day simple moving average of $34.04 and a 200-day simple moving average of $33.70. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.39 and a current ratio of 0.39. Callon Petroleum has a one year low of $28.62 and a one year high of $41.36. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 5.87 and a beta of 2.46.

Callon Petroleum (NYSE:CPE) last issued its quarterly earnings results on Monday, February 26th. The oil and natural gas company reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.12). Callon Petroleum had a return on equity of 12.65% and a net margin of 17.12%. The firm had revenue of $601.36 million during the quarter, compared to analysts’ expectations of $563.30 million. Equities research analysts anticipate that Callon Petroleum will post 6.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CPE. StockNews.com began coverage on shares of Callon Petroleum in a research report on Sunday, April 21st. They set a “hold” rating for the company. Mizuho dropped their price target on shares of Callon Petroleum from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, March 15th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $32.00 price target (down from $44.00) on shares of Callon Petroleum in a research report on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $40.33.

Callon Petroleum Profile

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, exploration, and development of oil and natural gas properties in West Texas. Callon Petroleum Company was founded in 1950 and is headquartered in Houston, Texas.