Federated Hermes Inc. Lowers Position in Callon Petroleum (NYSE:CPE)

Federated Hermes Inc. decreased its stake in Callon Petroleum (NYSE:CPE) by 23.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,940 shares of the oil and natural gas company’s stock after selling 15,314 shares during the quarter. Federated Hermes Inc.’s holdings in Callon Petroleum were worth $1,650,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada grew its stake in shares of Callon Petroleum by 510.9% during the 3rd quarter. Royal Bank of Canada now owns 1,674,634 shares of the oil and natural gas company’s stock valued at $65,511,000 after acquiring an additional 1,400,493 shares during the period. abrdn plc purchased a new position in Callon Petroleum during the third quarter valued at approximately $17,332,000. Boston Trust Walden Corp boosted its position in shares of Callon Petroleum by 54.2% in the fourth quarter. Boston Trust Walden Corp now owns 1,101,367 shares of the oil and natural gas company’s stock worth $35,684,000 after purchasing an additional 387,125 shares during the period. Victory Capital Management Inc. boosted its position in shares of Callon Petroleum by 1,839.8% in the third quarter. Victory Capital Management Inc. now owns 251,399 shares of the oil and natural gas company’s stock worth $9,835,000 after purchasing an additional 238,439 shares during the period. Finally, Channing Capital Management LLC increased its stake in shares of Callon Petroleum by 20.1% in the third quarter. Channing Capital Management LLC now owns 1,425,586 shares of the oil and natural gas company’s stock worth $55,769,000 after purchasing an additional 238,113 shares in the last quarter. Institutional investors own 91.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CPE. StockNews.com initiated coverage on shares of Callon Petroleum in a research note on Monday. They set a “hold” rating on the stock. Stifel Nicolaus restated a “hold” rating and issued a $32.00 price objective (down from $44.00) on shares of Callon Petroleum in a research report on Tuesday, January 23rd. Finally, Mizuho dropped their price objective on Callon Petroleum from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, March 15th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $40.33.

Callon Petroleum Stock Performance

CPE opened at $35.76 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 5.87 and a beta of 2.46. The company has a fifty day moving average of $34.22 and a 200 day moving average of $33.65. Callon Petroleum has a fifty-two week low of $28.62 and a fifty-two week high of $41.36.

Callon Petroleum (NYSE:CPE) last released its quarterly earnings data on Monday, February 26th. The oil and natural gas company reported $1.62 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.12). The company had revenue of $601.36 million for the quarter, compared to the consensus estimate of $563.30 million. Callon Petroleum had a net margin of 17.12% and a return on equity of 12.65%. As a group, sell-side analysts forecast that Callon Petroleum will post 6.56 earnings per share for the current fiscal year.

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.