Notable Mover: Could Callon Petroleum Company Change Direction After Making 52-Week High?

Notable Mover: Could Callon Petroleum Company Change Direction After Making 52 Week High?

The stock of Callon Petroleum Company (NYSE:CPE) hit a new 52-week high and has $21.69 target or 38.00% above today’s $15.72 share price. The 6 months bullish chart indicates low risk for the $2.52 billion company. The 1-year high was reported on Oct, 6 by If the $21.69 price target is reached, the company will be worth $957.60M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 271,046 shares traded hands. Callon Petroleum Company (NYSE:CPE) has risen 129.09% since March 3, 2016 and is uptrending. It has outperformed by 120.75% the S&P500.

Analysts await Callon Petroleum Company (NYSE:CPE) to report earnings on November, 2. They expect $0.07 EPS, up 40.00% or $0.02 from last year’s $0.05 per share. CPE’s profit will be $11.22 million for 56.14 P/E if the $0.07 EPS becomes a reality. After $0.05 actual EPS reported by Callon Petroleum Company for the previous quarter, Wall Street now forecasts 40.00% EPS growth.

Callon Petroleum Company (NYSE:CPE) Ratings Coverage

Out of 20 analysts covering Callon Petroleum (NYSE:CPE), 17 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 85% are positive. $19 is the highest target while $8 is the lowest. The $13.76 average target is -12.47% below today’s ($15.72) stock price. Callon Petroleum has been the topic of 40 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Stephens maintained Callon Petroleum Company (NYSE:CPE) on Monday, April 18 with “Overweight” rating. The firm earned “Overweight” rating on Friday, August 14 by KeyBanc Capital Markets. RBC Capital Markets maintained Callon Petroleum Company (NYSE:CPE) rating on Tuesday, February 2. RBC Capital Markets has “Sector Perform” rating and $9 price target. Cowen & Co downgraded Callon Petroleum Company (NYSE:CPE) on Tuesday, September 8 to “Market Perform” rating. The firm has “Outperform” rating given on Thursday, September 22 by BMO Capital Markets. The company was upgraded on Thursday, September 8 by RBC Capital Markets. The stock of Callon Petroleum Company (NYSE:CPE) has “Overweight” rating given on Tuesday, October 13 by JP Morgan. The stock of Callon Petroleum Company (NYSE:CPE) earned “Focus Stock” rating by Howard Weil on Monday, May 16. The firm has “Outperform” rating given on Thursday, April 28 by iBERIA Capital Partners. Citigroup maintained Callon Petroleum Company (NYSE:CPE) on Thursday, August 11 with “Neutral” rating.

According to Zacks Investment Research, “Callon Petroleum Company has been engaged in the exploration, development, acquisition and production of oil and gas properties since 1950.”

Insitutional Activity: The institutional sentiment increased to 2.38 in Q2 2016. Its up 0.14, from 2.24 in 2016Q1. The ratio improved, as 19 funds sold all Callon Petroleum Company shares owned while 41 reduced positions. 60 funds bought stakes while 83 increased positions. They now own 125.08 million shares or 27.96% more from 97.75 million shares in 2016Q1.
The Washington-based Rainier Invest Mgmt Lc has invested 0.89% in Callon Petroleum Company (NYSE:CPE). Virginia Retirement Et Al, a Virginia-based fund reported 139,500 shares. Moreover, Aqr Ltd Liability has 0% invested in Callon Petroleum Company (NYSE:CPE) for 68,090 shares. Blackrock Limited Company owns 679,962 shares or 0.01% of their US portfolio. Bridgeway Capital Mngmt Inc last reported 0.1% of its portfolio in the stock. Mesirow Mgmt owns 31,350 shares or 0.02% of their US portfolio. Kcg Holdings has 128,717 shares for 0.03% of their US portfolio. The New York-based Morgan Stanley has invested 0% in Callon Petroleum Company (NYSE:CPE). Raveneur Inv Gru Lp holds 1.01M shares or 3.1% of its portfolio. Penn Cap Mgmt Com Inc accumulated 40,086 shares or 0.03% of the stock. Moreover, Syntal Partners Limited Liability Com has 2.25% invested in Callon Petroleum Company (NYSE:CPE) for 170,314 shares. Moreover, Principal Gru Inc has 0.01% invested in Callon Petroleum Company (NYSE:CPE) for 724,108 shares. Seven Eight Capital Ltd Liability Corp has 0.1% invested in the company for 25,300 shares. Emerald Mutual Fund Advisers Trust holds 822,557 shares or 0.52% of its portfolio. Capital Fin Advisers Ltd has invested 0.01% of its portfolio in Callon Petroleum Company (NYSE:CPE).

More notable recent Callon Petroleum Company (NYSE:CPE) news were published by: which released: “Callon Petroleum Company Announces Closing of $400 Million Placement of Senior …” on October 03, 2016, also with their article: “Callon Petroleum Company Announces Management Appointments” published on August 24, 2016, published: “Callon Petroleum Company Announces Howard County Acquisition and Operational …” on September 06, 2016. More interesting news about Callon Petroleum Company (NYSE:CPE) were released by: and their article: “Callon Petroleum Company Announces Pricing of Upsized $400 Million Placement …” published on September 12, 2016 as well as‘s news article titled: “Callon Petroleum Company Announces Launch of $350 Million Placement of Senior …” with publication date: September 12, 2016.

CPE Company Profile

Callon Petroleum Company, incorporated on March 29, 1994, is an independent oil and natural gas company. The Firm is engaged in the exploration, development, acquisition and production of oil and natural gas properties. The Firm focuses on the acquisition, development, exploration and exploitation of unconventional, onshore, oil and natural gas reserves in the Permian Basin in West Texas and the Midland Basin. The Company’s asset base is concentrated in the Midland Basin located within the broader Permian Basin. The Company’s activities are focused on horizontal drilling of several prospective intervals, including multiple levels of the Wolfcamp formation and the Lower Spraberry shale.

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