Hilltop Park Associates Exits Position in Callon Petroleum Company (CPE)

Callon Petroleum Company (CPE) : Hilltop Park Associates has sold out all of its stake in Callon Petroleum Company during the most recent quarter, according to the disclosure filed by the company on Aug 8, 2016 with the SEC. The investment management company has sold out 100,000 shares of Callon Petroleum Company which is valued at $1,356,000.

Other Hedge Funds, Including , Mesirow Financial Investment Management – Equity Management reduced its stake in CPE by selling 220,639 shares or 87.56% in the most recent quarter. The Hedge Fund company now holds 31,350 shares of CPE which is valued at $425,106. Callon Petroleum Company makes up approx 0.02% of Mesirow Financial Investment Management – Equity Management’s portfolio. Syntal Capital Partners added CPE to its portfolio by purchasing 170,314 company shares during the most recent quarter which is valued at $1,939,876. Callon Petroleum Company makes up approx 2.21% of Syntal Capital Partners’s portfolio. Genesee Valley Trust Co added CPE to its portfolio by purchasing 10,580 company shares during the most recent quarter which is valued at $115,428. Callon Petroleum Company makes up approx 0.07% of Genesee Valley Trust Co’s portfolio.Independent Portfolio Consultants boosted its stake in CPE in the latest quarter, The investment management firm added 18,545 additional shares and now holds a total of 51,425 shares of Callon Petroleum Company which is valued at $599,101. Callon Petroleum Company makes up approx 0.18% of Independent Portfolio Consultants’s portfolio.

Callon Petroleum Company opened for trading at $13.71 and hit $14.18 on the upside on Monday, eventually ending the session at $14.04, with a gain of 3.16% or 0.43 points. The heightened volatility saw the trading volume jump to 31,24,640 shares. Company has a market cap of $1,841 M.

On the company’s financial health, Callon Petroleum Company reported $-0.61 EPS for the quarter, missing the analyst consensus estimate by $ -0.65 based on the information available during the earnings call on Aug 8, 2016. Analyst had a consensus of $0.04. The company had revenue of $45.14 million for the quarter, compared to analysts expectations of $47.75 million. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.11 EPS.

Many Wall Street Analysts have commented on Callon Petroleum Company. Company shares were Reiterated by FBR Capital on Aug 10, 2016 to “Outperform”, Firm has raised the Price Target to $ 17 from a previous price target of $15 .Company shares were Reiterated by Wunderlich on Aug 10, 2016 to “Buy”, Firm has raised the Price Target to $ 18 from a previous price target of $17 .Company shares were Reiterated by Imperial Capital on Aug 10, 2016 to “Outperform”, Firm has raised the Price Target to $ 16 from a previous price target of $14 .

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 is focused on unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas and the Midland Basin. Its asset base is concentrated in the Midland Basin located within the broader Permian Basin. Its operations are focused on horizontal drilling of several prospective intervals including multiple levels of the Wolfcamp formation. The Company operates two horizontal drilling rigs focused on four prospective zones for development. The Company drilled approximately 27 gross (24.4 net) horizontal and 7 gross (4.3 net) vertical wells while completing around 31 gross (27.3 net) horizontal and 5 gross (3.1 net) vertical wells. The Company also owns 6230 gross (3862 net) acres located in Midland Andrews and Martin Counties.

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