Brenham Capital Management Lowers stake in Callon Petroleum Company (CPE)

Callon Petroleum Company (CPE) : Brenham Capital Management reduced its stake in Callon Petroleum Company by 4.69% during the most recent quarter end. The investment management company now holds a total of 6,100,000 shares of Callon Petroleum Company which is valued at $85,461,000 after selling 300,000 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 10.66% of Brenham Capital Management’s portfolio.

Other Hedge Funds, Including , Ubs Oconnor boosted its stake in CPE in the latest quarter, The investment management firm added 32,701 additional shares and now holds a total of 484,752 shares of Callon Petroleum Company which is valued at $6,791,376. Callon Petroleum Company makes up approx 0.14% of Ubs Oconnor’s portfolio.Citadel Advisors boosted its stake in CPE in the latest quarter, The investment management firm added 946,675 additional shares and now holds a total of 1,379,048 shares of Callon Petroleum Company which is valued at $19,596,272. Callon Petroleum Company makes up approx 0.05% of Citadel Advisors’s portfolio.Teachers Advisors boosted its stake in CPE in the latest quarter, The investment management firm added 594,262 additional shares and now holds a total of 3,687,697 shares of Callon Petroleum Company which is valued at $49,046,370. Callon Petroleum Company makes up approx 0.08% of Teachers Advisors’s portfolio.Emerald Advisers Incpa boosted its stake in CPE in the latest quarter, The investment management firm added 100,603 additional shares and now holds a total of 880,176 shares of Callon Petroleum Company which is valued at $11,864,772. Callon Petroleum Company makes up approx 0.56% of Emerald Advisers Incpa’s portfolio.Nationwide Fund Advisors reduced its stake in CPE by selling 261,392 shares or 61.7% in the most recent quarter. The Hedge Fund company now holds 162,284 shares of CPE which is valued at $2,460,225. Callon Petroleum Company makes up approx 0.01% of Nationwide Fund Advisors’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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