Enterprise Bank & Trust Co Invests $63,000 in Callon Petroleum (NYSE:CPE)

Enterprise Bank & Trust Co acquired a new position in shares of Callon Petroleum (NYSE:CPE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,125 shares of the oil and natural gas company’s stock, valued at approximately $63,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue grew its holdings in shares of Callon Petroleum by 67.7% during the fourth quarter. State of Alaska Department of Revenue now owns 294,827 shares of the oil and natural gas company’s stock worth $1,424,000 after purchasing an additional 119,027 shares in the last quarter. Ellis Investment Partners LLC purchased a new position in shares of Callon Petroleum during the fourth quarter worth about $942,000. FTB Advisors Inc. grew its holdings in shares of Callon Petroleum by 94.2% during the fourth quarter. FTB Advisors Inc. now owns 8,208 shares of the oil and natural gas company’s stock worth $39,000 after purchasing an additional 3,982 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Callon Petroleum by 309.9% during the third quarter. Millennium Management LLC now owns 1,016,792 shares of the oil and natural gas company’s stock worth $4,412,000 after purchasing an additional 768,763 shares in the last quarter. Finally, Man Group plc purchased a new position in shares of Callon Petroleum during the third quarter worth about $789,000.

Several brokerages have recently commented on CPE. Morgan Stanley cut their price objective on Callon Petroleum from $6.25 to $4.75 and set an “equal weight” rating for the company in a report on Friday, October 4th. ValuEngine raised Callon Petroleum from a “sell” rating to a “hold” rating in a report on Friday. Imperial Capital boosted their price objective on Callon Petroleum from $10.00 to $13.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. Johnson Rice lowered Callon Petroleum from a “buy” rating to an “accumulate” rating in a report on Tuesday, November 19th. Finally, Northland Securities reissued a “buy” rating and set a $7.00 price objective on shares of Callon Petroleum in a report on Monday, November 18th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Callon Petroleum has a consensus rating of “Buy” and a consensus price target of $9.57.

NYSE:CPE traded down $0.15 during mid-day trading on Tuesday, reaching $4.73. The stock had a trading volume of 20,047,061 shares, compared to its average volume of 17,579,516. The firm has a 50 day moving average price of $4.26 and a two-hundred day moving average price of $4.63. The stock has a market capitalization of $1.10 billion, a P/E ratio of 5.77, a P/E/G ratio of 0.25 and a beta of 1.60. Callon Petroleum has a one year low of $3.51 and a one year high of $8.68. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.55 and a current ratio of 0.55.

Callon Petroleum (NYSE:CPE) last released its earnings results on Monday, November 4th. The oil and natural gas company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. The company had revenue of $155.38 million during the quarter, compared to the consensus estimate of $152.61 million. Callon Petroleum had a return on equity of 7.48% and a net margin of 38.86%. Callon Petroleum’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS. Research analysts forecast that Callon Petroleum will post 0.74 earnings per share for the current year.

Callon Petroleum Profile

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 and southeastern New Mexico. As of December 31, 2018, its estimated net proved reserves totaled 238.5 million barrel of oil equivalent, including 180.1 MMBbls of oil and 350.5 Bcf of natural gas.

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