Texas Permanent School Fund Buys 2,506 Shares of Callon Petroleum (NYSE:CPE)

Texas Permanent School Fund lifted its position in Callon Petroleum (NYSE:CPEGet Rating) by 7.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,839 shares of the oil and natural gas company’s stock after buying an additional 2,506 shares during the quarter. Texas Permanent School Fund owned about 0.06% of Callon Petroleum worth $1,290,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CPE. Point72 Hong Kong Ltd increased its stake in shares of Callon Petroleum by 14.5% during the 1st quarter. Point72 Hong Kong Ltd now owns 2,299 shares of the oil and natural gas company’s stock worth $136,000 after purchasing an additional 291 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Callon Petroleum by 2.0% in the second quarter. Maryland State Retirement & Pension System now owns 19,324 shares of the oil and natural gas company’s stock valued at $758,000 after buying an additional 377 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Callon Petroleum by 1.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 34,558 shares of the oil and natural gas company’s stock worth $1,355,000 after acquiring an additional 441 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Callon Petroleum by 25.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,296 shares of the oil and natural gas company’s stock worth $135,000 after acquiring an additional 462 shares during the last quarter. Finally, AlphaCrest Capital Management LLC raised its stake in Callon Petroleum by 8.0% in the 1st quarter. AlphaCrest Capital Management LLC now owns 7,775 shares of the oil and natural gas company’s stock valued at $459,000 after acquiring an additional 575 shares during the period. 83.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CPE has been the topic of several research reports. KeyCorp began coverage on shares of Callon Petroleum in a report on Monday, September 19th. They issued a “sector weight” rating on the stock. StockNews.com started coverage on Callon Petroleum in a report on Wednesday, October 12th. They set a “hold” rating for the company. Morgan Stanley lowered their target price on Callon Petroleum from $64.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 19th. JPMorgan Chase & Co. upgraded Callon Petroleum from an “underweight” rating to a “neutral” rating and set a $57.00 price objective on the stock in a research report on Monday, December 5th. Finally, Mizuho assumed coverage on shares of Callon Petroleum in a research report on Monday. They issued a “buy” rating and a $59.00 target price for the company. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $67.50.

Callon Petroleum Stock Performance

NYSE:CPE opened at $39.44 on Friday. Callon Petroleum has a twelve month low of $31.23 and a twelve month high of $66.48. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.84. The stock’s 50-day simple moving average is $39.03 and its 200 day simple moving average is $40.27. The firm has a market capitalization of $2.43 billion, a PE ratio of 1.98 and a beta of 2.63.

Callon Petroleum (NYSE:CPEGet Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The oil and natural gas company reported $4.04 earnings per share for the quarter, beating analysts’ consensus estimates of $4.00 by $0.04. The company had revenue of $835.88 million for the quarter, compared to the consensus estimate of $699.68 million. Callon Petroleum had a net margin of 37.99% and a return on equity of 38.40%. On average, analysts anticipate that Callon Petroleum will post 14.87 EPS for the current fiscal year.

About Callon Petroleum

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Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, exploration, and development of oil and natural gas properties in Permian Basin in West Texas. As of December 31, 2021, its estimated net proved reserves totaled approximately 484.6 million barrel of oil equivalent, including 290.3 MMBbls oil, 577.3 Bcf of natural gas, and 98.1 MMBbls of natural gas liquids.

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

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