Callon Petroleum Company (NYSE:CPE) Short Interest Update

Callon Petroleum Company (NYSE:CPE) was the target of a significant growth in short interest in the month of September. As of September 29th, there was short interest totalling 49,467,962 shares, a growth of 24.3% from the September 15th total of 39,805,675 shares. Based on an average daily volume of 5,559,249 shares, the short-interest ratio is currently 8.9 days. Approximately 24.8% of the shares of the company are sold short.

Callon Petroleum (NYSE CPE) opened at 10.27 on Friday. The company has a market cap of $2.07 billion, a PE ratio of 19.56 and a beta of 1.43. Callon Petroleum has a 52 week low of $9.34 and a 52 week high of $18.53. The company has a 50-day moving average price of $10.90 and a 200 day moving average price of $11.08.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.02). Callon Petroleum had a return on equity of 4.16% and a net margin of 34.61%. The company had revenue of $82.30 million for the quarter, compared to analysts’ expectations of $83.89 million. During the same period in the prior year, the business earned ($0.61) EPS. The business’s revenue for the quarter was up 82.5% on a year-over-year basis. On average, equities research analysts forecast that Callon Petroleum will post $0.45 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of CPE. Fondren Management LP acquired a new position in shares of Callon Petroleum in the 2nd quarter valued at about $106,000. FFT Wealth Management LLC acquired a new position in Callon Petroleum during the 2nd quarter valued at about $113,000. Green Square Capital LLC acquired a new position in Callon Petroleum during the 1st quarter valued at about $132,000. Raymond James Financial Services Advisors Inc. acquired a new position in Callon Petroleum during the 2nd quarter valued at about $133,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in Callon Petroleum during the 1st quarter valued at about $143,000.

Several research firms have issued reports on CPE. Jefferies Group LLC began coverage on Callon Petroleum in a report on Monday, October 9th. They set a “buy” rating and a $16.00 price target for the company. Northland Securities set a $18.00 price objective on Callon Petroleum and gave the stock a “buy” rating in a research note on Monday, August 21st. Zacks Investment Research raised Callon Petroleum from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. BMO Capital Markets reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Callon Petroleum in a research note on Wednesday, September 6th. Finally, BidaskClub lowered Callon Petroleum from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Callon Petroleum has a consensus rating of “Buy” and a consensus target price of $17.50.

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Callon Petroleum 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. The Company focuses on the acquisition and development of unconventional oil and natural gas reserves in the Permian Basin.

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