Legal & General Group Plc Cuts Stock Holdings in Callon Petroleum (NYSE:CPE)

Legal & General Group Plc lowered its stake in shares of Callon Petroleum (NYSE:CPE) by 13.4% during the second quarter, Holdings Channel reports. The fund owned 138,235 shares of the oil and natural gas company’s stock after selling 21,369 shares during the period. Legal & General Group Plc’s holdings in Callon Petroleum were worth $7,975,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. The PNC Financial Services Group Inc. grew its stake in shares of Callon Petroleum by 40.8% during the first quarter. The PNC Financial Services Group Inc. now owns 1,029 shares of the oil and natural gas company’s stock worth $39,000 after purchasing an additional 298 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of Callon Petroleum during the first quarter worth $221,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Callon Petroleum by 15.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 35,594 shares of the oil and natural gas company’s stock worth $1,372,000 after purchasing an additional 4,799 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of Callon Petroleum by 16.5% during the first quarter. Prudential Financial Inc. now owns 49,735 shares of the oil and natural gas company’s stock worth $1,917,000 after purchasing an additional 7,030 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Callon Petroleum by 19.5% during the first quarter. Geode Capital Management LLC now owns 374,420 shares of the oil and natural gas company’s stock worth $14,433,000 after purchasing an additional 61,143 shares in the last quarter. 77.44% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director S P. Iv Johnson sold 1,200 shares of the stock in a transaction dated Monday, July 19th. The shares were sold at an average price of $37.95, for a total transaction of $45,540.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is currently owned by corporate insiders.

CPE has been the subject of a number of analyst reports. Truist boosted their target price on shares of Callon Petroleum from $37.00 to $55.00 and gave the stock a “hold” rating in a research note on Thursday, October 7th. Morgan Stanley boosted their target price on shares of Callon Petroleum from $38.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 6th. MKM Partners upgraded shares of Callon Petroleum from a “neutral” rating to a “buy” rating and upped their price objective for the company from $47.00 to $54.00 in a research note on Monday, July 19th. Truist Securities upped their price objective on shares of Callon Petroleum from $37.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, October 7th. Finally, Wells Fargo & Company decreased their price objective on shares of Callon Petroleum from $52.00 to $49.00 and set an “underweight” rating for the company in a research note on Monday, August 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $39.45.

Shares of CPE opened at $53.82 on Thursday. Callon Petroleum has a fifty-two week low of $4.50 and a fifty-two week high of $61.49. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of -1.68 and a beta of 3.48. The firm has a 50-day simple moving average of $38.47 and a 200-day simple moving average of $41.30. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.30 and a current ratio of 0.30.

Callon Petroleum (NYSE:CPE) last announced its earnings results on Tuesday, August 3rd. The oil and natural gas company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.01. Callon Petroleum had a negative net margin of 92.16% and a positive return on equity of 24.26%. The business had revenue of $440.40 million during the quarter, compared to the consensus estimate of $340.48 million. Equities research analysts forecast that Callon Petroleum will post 7.75 EPS for the current year.

About Callon Petroleum

Callon Petroleum Co engages in the exploration, development, acquisition and production of oil and natural gas properties in the United States. It focuses on unconventional oil and natural gas reserves in the Permian Basin. The company was founded by Sim C. Callon and John S. Callon in 1950 and is headquartered in Houston, TX.

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

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