NEW YORK (TheStreet) -- Shares of Callon Petroleum Co. (CPE) - Get Report are down by 8.66% to $6.43 on heavy volume in mid-morning trading on Tuesday, as some stocks within the oil and energy sectors drop along with the price of oil.

Brent crude is falling by 2.05% to $57.33 per barrel and crude oil (WTI) is lower by 0.72% to $49.64 per barrel this morning, according to the CNBC.com index.

Oil prices are down today on mounting concerns that the global oversupply will continue grow with the winter weather giving way to warmer temperatures.

Demand for heating oil in February saw prices stabilize as parts of the U.S. were slammed by large snow storms and freezing temperatures, the Wall Street Journal reports.

With issues regarding the weather starting to disappear and refineries across the world closing for seasonal maintenance demand for crude oil will fall, the Journal noted.

"Most of the supportive factors for Brent are starting to fade. We expect prices to fall in the coming weeks," Energy Aspects said in a note issued on Monday, the Journal added.

Additionally, Callon Petroleum announced on Monday that it has priced an underwritten public offering of 9 million shares of its common stock. Gross proceeds are estimated to be approximately $59 million and the offering is expected to close on March 13.

Separately, TheStreet Ratings team rates CALLON PETROLEUM CO/DE as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

"We rate CALLON PETROLEUM CO/DE (CPE) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, expanding profit margins and good cash flow from operations. However, as a counter to these strengths, we find that the stock has experienced relatively poor performance when compared with the S&P 500 during the past year."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• The revenue growth greatly exceeded the industry average of 19.8%. Since the same quarter one year prior, revenues rose by 45.1%. Growth in the company's revenue appears to have helped boost the earnings per share.
• The gross profit margin for CALLON PETROLEUM CO/DE is currently very high, coming in at 73.83%. It has increased from the same quarter the previous year. Along with this, the net profit margin of 49.35% significantly outperformed against the industry average.
• The debt-to-equity ratio is somewhat low, currently at 0.77, and is less than that of the industry average, implying that there has been a relatively successful effort in the management of debt levels. Even though the company has a strong debt-to-equity ratio, the quick ratio of 0.32 is very weak and demonstrates a lack of ability to pay short-term obligations.
• In its most recent trading session, CPE has closed at a price level that was not very different from its closing price of one year earlier. This is probably due to its weak earnings growth as well as other mixed factors. Despite the fact that it has already risen in the past year, there is currently no conclusive evidence that warrants the purchase or sale of this stock.
• Current return on equity exceeded its ROE from the same quarter one year prior. This is a clear sign of strength within the company. In comparison to the other companies in the Oil, Gas & Consumable Fuels industry and the overall market, CALLON PETROLEUM CO/DE's return on equity is significantly below that of the industry average and is below that of the S&P 500.
• You can view the full analysis from the report here: CPE Ratings Report