Viking Fund Management adds Callon Petroleum Company (CPE) to its portfolio

Callon Petroleum Company (CPE) : Viking Fund Management added new position in Callon Petroleum Company during the most recent quarter end. The investment management firm now holds 470,000 shares of Callon Petroleum Company which is valued at $7,247,400 , the company said in a statement filed on Oct 13, 2016 with the SEC.Callon Petroleum Company makes up approximately 1.17% of Viking Fund Management’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc reduced its stake in CPE by selling 48 shares or 27.43% in the most recent quarter. The Hedge Fund company now holds 127 shares of CPE which is valued at $1,958. Genesee Valley Trust Co sold out all of its stake in CPE during the most recent quarter. The investment firm sold 10,580 shares of CPE which is valued $167,587.Eagle Asset Management Inc reduced its stake in CPE by selling 459 shares or 0.04% in the most recent quarter. The Hedge Fund company now holds 1,066,576 shares of CPE which is valued at $16,894,564. Callon Petroleum Company makes up approx 0.12% of Eagle Asset Management Inc’s portfolio. Nisa Investment Advisors added CPE to its portfolio by purchasing 1,800 company shares during the most recent quarter which is valued at $28,512. Fox Run Management L.l.c. sold out all of its stake in CPE during the most recent quarter. The investment firm sold 17,500 shares of CPE which is valued $277,200.

Callon Petroleum Company closed down -0.12 points or -0.75% at $15.84 with 32,23,299 shares getting traded on Tuesday. Post opening the session at $15.9, the shares hit an intraday low of $15.615 and an intraday high of $15.975 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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 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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