Live Stock Coverage: Callon Petroleum Company Sets 52-Week High; Strong Momentum for Holders

Live Stock Coverage: Callon Petroleum Company Sets 52 Week High; Strong Momentum for Holders

The stock of Callon Petroleum Company (NYSE:CPE) hit a new 52-week high and has $19.13 target or 5.00% above today’s $18.22 share price. The 6 months bullish chart indicates low risk for the $3.58B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $19.13 price target is reached, the company will be worth $179.00M 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 859,148 shares traded hands. Callon Petroleum Company (NYSE:CPE) has risen 66.73% since April 28, 2016 and is uptrending. It has outperformed by 60.80% the S&P500.

Analysts await Callon Petroleum Company (NYSE:CPE) to report earnings on March, 1. They expect $0.10 EPS, up 100.00% or $0.05 from last year’s $0.05 per share. CPE’s profit will be $19.65M for 45.55 P/E if the $0.10 EPS becomes a reality. After $0.09 actual EPS 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 21 analysts covering Callon Petroleum (NYSE:CPE), 18 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 86% are positive. $19 is the highest target while $8 is the lowest. The $14.03 average target is -23.00% below today’s ($18.22) stock price. Callon Petroleum has been the topic of 41 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Citigroup initiated the stock with “Neutral” rating in Wednesday, June 29 report. The rating was initiated by Evercore on Wednesday, September 28 with “Buy”. FBR Capital maintained the shares of CPE in a report on Thursday, November 5 with “Outperform” rating. The rating was maintained by Citigroup with “Neutral” on Thursday, August 11. The firm has “Outperform” rating by Imperial Capital given on Tuesday, February 9. The rating was initiated by Mizuho on Thursday, October 6 with “Neutral”. As per Thursday, September 8, the company rating was upgraded by RBC Capital Markets. JP Morgan maintained the stock with “Overweight” rating in Tuesday, March 15 report. The firm earned “Outperform” rating on Friday, November 6 by Northland Capital. Canaccord Genuity maintained Callon Petroleum Company (NYSE:CPE) on Thursday, September 8 with “Buy” 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 decreased to 1.55 in 2016 Q2. Its down 0.83, from 2.38 in 2016Q1. The ratio fall, 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.
Boothbay Fund Limited Liability last reported 0.13% of its portfolio in the stock. Barclays Public Ltd Liability holds 0% or 21,319 shares in its portfolio. Teton Advsr Incorporated accumulated 0.25% or 244,844 shares. Wedge Cap Management L Limited Partnership Nc has 1.08 million shares for 0.13% of their US portfolio. Bnp Paribas Arbitrage has 4,701 shares for 0% of their US portfolio. Ubs Oconnor Ltd Liability Corp accumulated 428,831 shares or 0% of the stock. Northern Tru Corporation owns 2.52M shares or 0.01% of their US portfolio. Capstone Investment Advisors Limited Liability Corporation owns 13,395 shares or 0% of their US portfolio. Legal And General Gru Public Lc has 0% invested in the company for 17,825 shares. Assetmark has 0% invested in the company for 167 shares. Highbridge Cap Mgmt Llc owns 51,731 shares or 0.01% of their US portfolio. Eam Invsts Ltd Liability Co has 0.44% invested in the company for 262,068 shares. Hancock Company accumulated 722,361 shares or 0.34% of the stock. Alliancebernstein L P has 0% invested in the company for 185,400 shares. Moreover, Massmutual Tru Communication Fsb Adv has 0% invested in Callon Petroleum Company (NYSE:CPE) for 90 shares.

Another recent and important Callon Petroleum Company (NYSE:CPE) news was published by Prnewswire.com which published an article titled: “Callon Petroleum Company Announces Upcoming Investor Events” on November 17, 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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