Viking Fund Management LLC Increases Stake in Callon Petroleum (CPE)

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Viking Fund Management LLC grew its holdings in Callon Petroleum (NYSE:CPE) by 76.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 370,000 shares of the oil and natural gas company’s stock after buying an additional 160,000 shares during the quarter. Viking Fund Management LLC owned approximately 0.16% of Callon Petroleum worth $2,401,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. First National Bank of Omaha boosted its holdings in Callon Petroleum by 2.8% in the fourth quarter. First National Bank of Omaha now owns 159,882 shares of the oil and natural gas company’s stock valued at $1,038,000 after acquiring an additional 4,312 shares during the last quarter. Tributary Capital Management LLC boosted its holdings in Callon Petroleum by 22.2% in the fourth quarter. Tributary Capital Management LLC now owns 1,815,665 shares of the oil and natural gas company’s stock valued at $11,784,000 after acquiring an additional 330,401 shares during the last quarter. Peregrine Capital Management LLC boosted its holdings in Callon Petroleum by 93.2% in the fourth quarter. Peregrine Capital Management LLC now owns 927,507 shares of the oil and natural gas company’s stock valued at $6,020,000 after acquiring an additional 447,382 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Callon Petroleum by 968.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 11,695 shares of the oil and natural gas company’s stock valued at $76,000 after acquiring an additional 10,600 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in Callon Petroleum by 5.0% in the fourth quarter. Retirement Systems of Alabama now owns 1,024,174 shares of the oil and natural gas company’s stock valued at $6,647,000 after acquiring an additional 48,586 shares during the last quarter.

Several equities analysts recently issued reports on the company. Citigroup upgraded Callon Petroleum from a “neutral” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Wednesday. Barclays cut Callon Petroleum from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $14.00 to $10.00 in a report on Wednesday, January 16th. Capital One Financial upgraded Callon Petroleum from an “equal weight” rating to an “overweight” rating in a report on Wednesday, January 9th. Tudor Pickering cut Callon Petroleum from a “buy” rating to a “hold” rating in a report on Friday, December 14th. Finally, Williams Capital reiterated a “buy” rating and issued a $12.00 price target on shares of Callon Petroleum in a report on Wednesday, December 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $15.00.

Shares of NYSE:CPE traded down $0.18 during trading on Wednesday, hitting $7.88. 4,180,314 shares of the company’s stock traded hands, compared to its average volume of 5,576,303. Callon Petroleum has a 52 week low of $5.57 and a 52 week high of $14.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a market capitalization of $1.88 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 0.23 and a beta of 1.32.

Callon Petroleum (NYSE:CPE) last released its quarterly earnings data on Tuesday, November 6th. The oil and natural gas company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. Callon Petroleum had a return on equity of 8.31% and a net margin of 30.70%. The business had revenue of $161.21 million for the quarter, compared to analysts’ expectations of $145.66 million. During the same quarter in the previous year, the business posted $0.09 EPS. Callon Petroleum’s revenue for the quarter was up 90.5% on a year-over-year basis. On average, research analysts expect that Callon Petroleum will post 0.87 earnings per share for the current year.

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About Callon Petroleum

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional onshore, oil, and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2017, its estimated net proved reserves totaled 137.0 million barrel of oil equivalent.

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

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