Louisiana State Employees Retirement System Buys New Shares in Callon Petroleum (NYSE:CPE)

Louisiana State Employees Retirement System bought a new stake in Callon Petroleum (NYSE:CPE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 27,800 shares of the oil and natural gas company’s stock, valued at approximately $901,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale acquired a new stake in shares of Callon Petroleum in the third quarter valued at about $98,000. Mitsubishi UFJ Trust & Banking Corp increased its position in 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 worth $108,000 after buying an additional 2,094 shares during the last quarter. SG Americas Securities LLC acquired a new position in Callon Petroleum during the fourth quarter worth approximately $108,000. PNC Financial Services Group Inc. increased its position in 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 worth $163,000 after buying an additional 810 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new position in Callon Petroleum during the third quarter worth approximately $213,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

Callon Petroleum Stock Performance

Shares of NYSE:CPE opened at $35.76 on Friday. Callon Petroleum has a 12-month low of $28.62 and a 12-month high of $41.36. The stock has a market cap of $2.38 billion, a PE ratio of 5.87 and a beta of 2.46. The business has a 50 day moving average of $34.04 and a 200-day moving average of $33.70. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.48.

Callon Petroleum (NYSE:CPE) last issued its quarterly earnings data 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). The firm had revenue of $601.36 million for the quarter, compared to the consensus estimate of $563.30 million. Callon Petroleum had a return on equity of 12.65% and a net margin of 17.12%. As a group, equities research analysts forecast that Callon Petroleum will post 6.56 earnings per share for the current year.

Wall Street Analyst Weigh In

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