Lone Star Value Management buys $16.6 Million stake in Callon Petroleum Company (CPE)

Callon Petroleum Company (CPE) : Lone Star Value Management scooped up 85,000 additional shares in Callon Petroleum Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 1,536,000 shares of Callon Petroleum Company which is valued at $16.6 Million.Callon Petroleum Company makes up approximately 34.90% of Lone Star Value Management’s portfolio.

Other Hedge Funds, Including , Dimensional Fund Advisors Lp boosted its stake in CPE in the latest quarter, The investment management firm added 499,659 additional shares and now holds a total of 6,114,775 shares of Callon Petroleum Company which is valued at $66.1 Million. Callon Petroleum Company makes up approx 0.04% of Dimensional Fund Advisors Lp’s portfolio.Penn Capital Management Co Inc boosted its stake in CPE in the latest quarter, The investment management firm added 27,845 additional shares and now holds a total of 95,178 shares of Callon Petroleum Company which is valued at $1 Million. Callon Petroleum Company makes up approx 0.06% of Penn Capital Management Co Inc’s portfolio.Airain Ltd boosted its stake in CPE in the latest quarter, The investment management firm added 1,357 additional shares and now holds a total of 93,365 shares of Callon Petroleum Company which is valued at $1 Million. Callon Petroleum Company makes up approx 0.07% of Airain Ltd’s portfolio.Swiss National Bank boosted its stake in CPE in the latest quarter, The investment management firm added 50,800 additional shares and now holds a total of 160,000 shares of Callon Petroleum Company which is valued at $1.7 Million.

Callon Petroleum Company opened for trading at $11.31 and hit $11.43 on the upside on Wednesday, eventually ending the session at $11.41, with a gain of 2.61% or 0.29 points. The heightened volatility saw the trading volume jump to 38,50,103 shares. Company has a market cap of $1,385 M.

On the company’s financial health, Callon Petroleum Company reported $0.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Mar 2, 2016. Analyst had a consensus of $0.03. The company had revenue of $33.56 million for the quarter, compared to analysts expectations of $37.57 million. The company’s revenue was down -12.6 % 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. Credit Suisse Initiated Callon Petroleum Company on May 24, 2016 to “Outperform”, Price Target of the shares are set at $14.Callon Petroleum Company was Upgraded by Scotia Howard Weil to ” Focus Stock” on May 16, 2016. Company shares were Reiterated by Imperial Capital on May 9, 2016 to “Outperform”, Firm has raised the Price Target to $ 14 from a previous price target of $12 .

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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