Callon Petroleum Company (CPE): A Great Stock For Handling Current Market Conditions?

    SBUX Stock
    SBUX Stock

    Arrowstreet Capital LP recently announced the acquisition of new stake in Callon Petroleum Company (NYSE:CPE). This fresh investment now brings its stake to 2.70% valued currently at $12.21 million. In addition, Millennium Management LLC raised its holdings by 5.23 million to 7.57 million shares. And Norges Bank Investment Management has lifted its position by 48.09% or 1.27 million shares – to 3.92 million shares.

    With over 1.74 million Callon Petroleum Company (CPE) shares trading Friday and a closing price of $6.98 on the day, the dollar volume was approximately $12.14 million. The shares have shown a positive weekly performance of 3.71% and its price on 08/28/20 gained nearly 1.01%. Currently, there are 39.71M common shares owned by the public and among those 38.64M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 17 analysts who have offered their price forecasts for CPE have a consensus price objective of $11.40. The analysts have set the share’s price value over the next 12 months at a high of $30.00 and a low of $4.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Callon Petroleum Company stock is 3.10 for the next 12 months. The average price target is 36.08% above its last price level and an upside to the estimated low will see the stock lose -74.5% over that period. But an upside of 76.73% will see the stock hit the forecast high price target while mean target price for the stock is $10.00.

    Insiders at the company have transacted a total of 63 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 53 of these insider trades were purchases, accounting for 11,252,675 shares. Insider sales of the common stock occurred on 10 occasions, with total insider shares sold totaling 122,413 shares.

    Nationwide US Small Cap Value Fun owns 1805.0 shares of the company’s stock, all valued at over $0.0.

    Shares of Callon Petroleum Company (NYSE: CPE) opened at $6.89, down -$0.02 from a prior closing price of $6.91. However, the script later closed the day at $6.98, up 1.01%. The company’s stock has a 5-day price change of 3.71% and -3.23% over the past three months. CPE shares are trading -85.55% year to date (YTD), with the 12-month market performance down to -83.99% lower. It has a 12-month low price of $3.80 and touched a high of $53.60 over the same period. Currently, 1.74 million shares have been traded, compared to an average intraday trading volume of 3.37 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -24.51%, -36.62%, and -64.68% respectively.

    Institutional ownership of Callon Petroleum Company (NYSE: CPE) shares accounts for 48.10% of the company’s 39.71M shares outstanding. Mutual fund holders own 0.00%, while other institutional holders and individual stakeholders account for 0.00% and — respectively.

    It has a market capitalization of $274.73M and a beta (3y monthly) value of 2.96. The earnings-per-share (ttm) stands at -$32.83. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.85% over the week and 9.19% over the month.

    Analysts forecast that Callon Petroleum Company (CPE) will achieve an EPS of $0.19 for the current quarter, $0.53 for the next quarter and $2.93 for 2021. The lowest estimate earnings-per-share for the quarter is -$1.25 while analysts give the company a high EPS estimate of $1.13. Comparatively, EPS for the current quarter was $1.9 a year ago. Earnings per share for the fiscal year are expected to decrease by -82.30%, and 45.25% over the next financial year.

    Looking at the support for the CPE, a number of firms have released research notes about the stock. MKM Partners stated their Buy rating for the stock in a research note on May 28, 2020, with the firm’s price target at $2. BofA/Merrill coverage for the Callon Petroleum Company (CPE) stock in a research note released on May 14, 2020 offered a Underperform rating with a price target of. Tudor Pickering was of a view on May 04, 2020 that the stock is Sell, while Siebert Williams Shank gave the stock Sell rating on May 01, 2020, issuing a price target of $0.50. Scotiabank on their part issued Sector Perform rating on April 07, 2020.


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