Price Action Alert: What’s Callon Petroleum Company Upside After Achieving 52-Week High?

Price Action Alert: What's Callon Petroleum Company Upside After Achieving 52 Week High?

The stock of Callon Petroleum Company (NYSE:CPE) hit a new 52-week high and has $17.59 target or 8.00% above today’s $16.29 share price. The 7 months bullish chart indicates low risk for the $2.69B company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $17.59 price target is reached, the company will be worth $215.20 million 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. The stock increased 0.25% or $0.04 during the last trading session, hitting $16.29. About 2.37M shares traded hands. Callon Petroleum Company (NYSE:CPE) has risen 56.00% since April 22, 2016 and is uptrending. It has outperformed by 50.59% the S&P500.

Analysts await Callon Petroleum Company (NYSE:CPE) to report earnings on March, 1. They expect $0.10 earnings per share, up 100.00% or $0.05 from last year’s $0.05 per share. CPE’s profit will be $16.51 million for 40.73 P/E if the $0.10 EPS becomes a reality. After $0.09 actual earnings per share reported by Callon Petroleum Company for the previous quarter, Wall Street now forecasts 11.11% 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 -15.53% below today’s ($16.29) stock price. Callon Petroleum has been the topic of 40 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating given on Monday, September 21 by RBC Capital Markets. Citigroup maintained Callon Petroleum Company (NYSE:CPE) rating on Thursday, August 11. Citigroup has “Neutral” rating and $14 price target. The company was maintained on Tuesday, February 9 by Imperial Capital. The firm has “Overweight” rating by JP Morgan given on Thursday, August 11. The firm earned “Buy” rating on Thursday, May 26 by Wunderlich. The rating was initiated by BMO Capital Markets on Thursday, September 22 with “Outperform”. The rating was maintained by Imperial Capital on Friday, September 30 with “Outperform”. The rating was maintained by Citigroup on Monday, July 18 with “Neutral”. KeyBanc Capital Markets maintained the shares of CPE in a report on Monday, August 22 with “Overweight” rating. On Monday, May 16 the stock rating was upgraded by Howard Weil to “Focus Stock”.

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 decreased to 1.55 in Q2 2016. Its down 0.83, from 2.38 in 2016Q1. The ratio worsened, 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.
Hsbc Public Lc last reported 0% of its portfolio in the stock. Moreover, D E Shaw And Company has 0.02% invested in Callon Petroleum Company (NYSE:CPE) for 990,516 shares. Fund Management reported 10,320 shares or 0% of all its holdings. Cipher Cap L P last reported 292,771 shares in the company. Morgan Stanley last reported 0% of its portfolio in the stock. Geosphere Cap holds 370,000 shares or 4.1% of its portfolio. Mackenzie Financial Corporation has 55,000 shares for 0% of their US portfolio. Jpmorgan Chase holds 0% of its portfolio in Callon Petroleum Company (NYSE:CPE) for 285,279 shares. Allianz Asset Mgmt Ag has 0% invested in the company for 257,697 shares. Wellington Management Gp Llp holds 0.02% or 7.44 million shares in its portfolio. The New York-based Zimmer Prtnrs L P has invested 0.62% in Callon Petroleum Company (NYSE:CPE). Hodges Mgmt accumulated 31,500 shares or 0.02% of the stock. Weiss Multi last reported 355,563 shares in the company. Ironwood Inv Management Ltd Limited Liability Company, a Massachusetts-based fund reported 19,100 shares. Westwood Holdings Group Inc Inc reported 1.08M shares or 0.11% of all its holdings.

More important recent Callon Petroleum Company (NYSE:CPE) news were published by: Prnewswire.com which released: “Callon Petroleum Company Announces Upcoming Investor Events” on November 17, 2016, also Prnewswire.com published article titled: “Callon Petroleum Company Announces Howard County Acquisition and Operational …”, Prnewswire.com published: “Callon Petroleum Company Announces Closing of Midland Basin Acquisition” on October 24, 2016. More interesting news about Callon Petroleum Company (NYSE:CPE) was released by: Prnewswire.com and their article: “Callon Petroleum Company Announces Pricing of Upsized $400 Million Placement …” 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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