Is Callon Petroleum Co. (NYSE: CPE) Back In The Buying Zone?

Currently, there are 66.47M common shares owned by the public and among those 52.27M shares have been available to trade.

However, the script later moved the day high at 36.20, up 1.82%. The company’s stock has a 5-day price change of 1.30% and 6.52% over the past three months. CPE shares are trading 10.37% year to date (YTD), with the 12-month market performance up to 9.96% higher. It has a 12-month low price of $28.62 and touched a high of $41.36 over the same period. CPE has an average intraday trading volume of 1.66 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 7.17%, 10.40%, and 3.47% respectively.

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Institutional ownership of Callon Petroleum Co. (NYSE: CPE) shares accounts for 81.63% of the company’s 66.47M shares outstanding.

It has a market capitalization of $2.38B and a beta (3y monthly) value of 2.48. The stock’s trailing 12-month PE ratio is 5.88, while the earnings-per-share (ttm) stands at $6.08. The company has a PEG of 0.98 and a Quick Ratio of 0.39 with the debt-to-equity ratio at 0.48. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.50% over the week and 2.67% over the month.

Analysts forecast that Callon Petroleum Co. (CPE) will achieve an EPS of $1.36 for the current quarter, $1.32 for the next quarter and $7.56 for 2025. The lowest estimate earnings-per-share for the quarter is $1.08 while analysts give the company a high EPS estimate of $1.55. Comparatively, EPS for the current quarter was $1.94 a year ago. Earnings per share for the fiscal year are expected to decrease by -13.36%, and 9.97% over the next financial year. EPS should grow at an annualized rate of 6.00% over the next five years, compared to -14.41% over the past 5-year period.

Looking at the support for the CPE, a number of firms have released research notes about the stock. Mizuho stated their Neutral rating for the stock in a research note on January 03, 2024, with the firm’s price target at $60-$40. Citigroup coverage for the Callon Petroleum Co. (CPE) stock in a research note released on August 16, 2023 offered a Buy rating with a price target of $45. Mizuho was of a view on January 10, 2023 that the stock is Buy, while JP Morgan gave the stock Neutral rating on December 05, 2022, issuing a price target of $57. KeyBanc Capital Markets on their part issued Sector Weight rating on September 20, 2022.

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