5 Reddit Stocks that Tripled in 2021

2. Callon Petroleum Company (NYSE:CPE)

Number of Hedge Fund Holders: 20

Year-To-Date Gain: 291%  

Callon Petroleum Company (NYSE:CPE) is an independent oil and gas firm. In October, the company announced that it would be selling a non-core acreage in the Eagle Ford Shale for $100 million based on strong well performance in the Delaware and Midland Basins.

In earnings results for the third quarter, posted on November 3, Callon Petroleum Company (NYSE:CPE) reported earnings per share of $2.93, beating estimates by $0.43. The revenue over the period was $552 million, up 90% year-on-year. 

At the end of the third quarter of 2021, 20 hedge funds in the database of Insider Monkey held stakes worth $50 million in Callon Petroleum Company (NYSE:CPE), up from 17 in the preceding quarter worth $87 million.