Callon Petroleum (NYSE:CPE) Short Interest Update

Callon Petroleum (NYSE:CPE) was the target of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 42,007,896 shares, a decline of 8.6% from the October 13th total of 45,950,314 shares. Based on an average trading volume of 3,274,095 shares, the days-to-cover ratio is currently 12.8 days. Approximately 21.1% of the company’s stock are sold short.

A number of hedge funds and other institutional investors have recently made changes to their positions in CPE. ETRADE Capital Management LLC lifted its stake in shares of Callon Petroleum by 0.6% in the 2nd quarter. ETRADE Capital Management LLC now owns 42,015 shares of the oil and natural gas company’s stock valued at $446,000 after purchasing an additional 239 shares during the period. Hodges Capital Management Inc. lifted its position in Callon Petroleum by 0.5% in the second quarter. Hodges Capital Management Inc. now owns 61,300 shares of the oil and natural gas company’s stock valued at $650,000 after buying an additional 300 shares during the last quarter. Teacher Retirement System of Texas lifted its position in Callon Petroleum by 2.0% in the second quarter. Teacher Retirement System of Texas now owns 16,367 shares of the oil and natural gas company’s stock valued at $174,000 after buying an additional 317 shares during the last quarter. Blair William & Co. IL lifted its position in Callon Petroleum by 2.6% in the second quarter. Blair William & Co. IL now owns 26,138 shares of the oil and natural gas company’s stock valued at $277,000 after buying an additional 670 shares during the last quarter. Finally, Renaissance Group LLC lifted its position in Callon Petroleum by 2.4% in the second quarter. Renaissance Group LLC now owns 28,366 shares of the oil and natural gas company’s stock valued at $301,000 after buying an additional 676 shares during the last quarter.

Several equities analysts have recently commented on CPE shares. Scotiabank set a $16.00 target price on Callon Petroleum and gave the company a “buy” rating in a research report on Saturday, November 25th. Mizuho upgraded Callon Petroleum from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Tuesday, November 21st. Jefferies Group started coverage on Callon Petroleum in a research note on Monday, October 9th. They set a “buy” rating and a $16.00 target price for the company. BMO Capital Markets set a $15.00 price target on Callon Petroleum and gave the company a “buy” rating in a research note on Tuesday, November 14th. Finally, Imperial Capital assumed coverage on Callon Petroleum in a report on Tuesday, August 15th. They set an “outperform” rating and a $16.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. Callon Petroleum presently has an average rating of “Buy” and an average price target of $17.43.

Callon Petroleum (NYSE:CPE) traded down $0.16 during trading on Monday, hitting $11.34. 6,452,046 shares of the stock traded hands, compared to its average volume of 4,976,107. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.32. The company has a market cap of $2,321.12, a price-to-earnings ratio of 31.94 and a beta of 1.33. Callon Petroleum has a 12-month low of $9.34 and a 12-month high of $18.00.

Callon Petroleum (NYSE:CPE) last posted its earnings results on Monday, November 6th. The oil and natural gas company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The business had revenue of $84.60 million for the quarter, compared to analysts’ expectations of $81.98 million. Callon Petroleum had a net margin of 30.20% and a return on equity of 4.05%. The company’s revenue for the quarter was up 51.3% on a year-over-year basis. During the same period last year, the business posted $0.09 EPS. equities analysts forecast that Callon Petroleum will post 0.39 EPS for the current year.

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About Callon Petroleum

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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