Lone Star Value Management Lowers stake in Callon Petroleum Company (CPE)

Callon Petroleum Company (CPE) : Lone Star Value Management reduced its stake in Callon Petroleum Company by 1.9% during the most recent quarter end. The investment management company now holds a total of 1,552,000 shares of Callon Petroleum Company which is valued at $21,743,520 after selling 30,000 shares in Callon Petroleum Company , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Callon Petroleum Company makes up approximately 49.01% of Lone Star Value Management’s portfolio.

Other Hedge Funds, Including , Nuveen Asset Management boosted its stake in CPE in the latest quarter, The investment management firm added 109,642 additional shares and now holds a total of 668,904 shares of Callon Petroleum Company which is valued at $9,371,345. Callon Petroleum Company makes up approx 0.06% of Nuveen Asset Management’s portfolio.Advisor Group boosted its stake in CPE in the latest quarter, The investment management firm added 8,836 additional shares and now holds a total of 11,293 shares of Callon Petroleum Company which is valued at $161,603.Wedge Capital Management L L Pnc boosted its stake in CPE in the latest quarter, The investment management firm added 250,126 additional shares and now holds a total of 1,327,998 shares of Callon Petroleum Company which is valued at $17,343,654. Callon Petroleum Company makes up approx 0.18% of Wedge Capital Management L L Pnc’s portfolio. Spot Trading L.l.c sold out all of its stake in CPE during the most recent quarter. The investment firm sold 7,600 shares of CPE which is valued $100,472. Vaughan Nelson Investment Management added CPE to its portfolio by purchasing 2,008,150 company shares during the most recent quarter which is valued at $28,616,138. Callon Petroleum Company makes up approx 0.34% of Vaughan Nelson Investment Management’s portfolio.

Callon Petroleum Company opened for trading at $14.52 and hit $14.725 on the upside on Monday, eventually ending the session at $14.55, with a gain of 1.18% or 0.17 points. The heightened volatility saw the trading volume jump to 25,70,557 shares. Company has a market cap of $2,343 M.

On the company’s financial health, Callon Petroleum Company reported $0.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Nov 2, 2016. Analyst had a consensus of $0.07. The company had revenue of $55.90 million for the quarter, compared to analysts expectations of $58.81 million. The company’s revenue was up 63.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS.

Many Wall Street Analysts have commented on Callon Petroleum Company. Company shares were Reiterated by Imperial Capital on Sep 30, 2016 to “Outperform”, Firm has raised the Price Target to $ 18 from a previous price target of $16 .Company shares were Reiterated by FBR Capital on Sep 9, 2016 to “Outperform”, Firm has raised the Price Target to $ 19 from a previous price target of $17 .Company shares were Reiterated by Canaccord Genuity on Sep 8, 2016 to “Buy”, Firm has raised the Price Target to $ 18 from a previous price target of $15 .

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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