Saturday, June 25, 2022

10% Owner Kimmeridge Energy Management C sale 6,500,000 shares of Callon Petroleum Company [CPE]

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Callon Petroleum Company shares valued at $368,225,000 were sold by Kimmeridge Energy Management C on Jun 01. At $56.65 per share, Kimmeridge Energy Management C sold 6,500,000 shares. The insider’s holdings dropped to 5,200,780 shares worth approximately $224.05 million following the completion of this transaction.


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Also, Blackstone Holdings III L.P. sold 200,000 shares, netting a total of over 12,399,037 in proceeds. Following the sale of shares at $62.00 each, the insider now holds 5,935,002 shares.

Before that, BPP HoldCo LLC had sold 200,000 shares from its account. In a trade valued at $12,399,037, the Former 10% Owner traded Callon Petroleum Company shares for $62.00 each. Upon closing the transaction, the insider’s holdings decreased to 200,000 shares, worth approximately $255.68 million.

As published in a research note from ROTH Capital on April 18, 2022, Callon Petroleum Company [CPE] has been rated up from a Neutral to a Buy and the price target has been revised to $80. This represents a 46.15% premium over Wednesday’s closing price. Analysts at Truist upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early March. As of January 21, 2022, JP Morgan has decreased its “Neutral” rating to a “an Underweight” for CPE. Earlier on November 19, 2021, Wells Fargo upgraded its rating. Their new recommendation was “an Equal weight” for CPE stock which previously was a “an Underweight”.

Analyzing CPE’s Price Performance

On Wednesday, Callon Petroleum Company [NYSE: CPE] plunged -10.88% to $43.08. The stock’s lowest price that day was $43.03, but it reached a high of $45.83 in the same session. During the last five days, there has been a drop of approximately -24.51%. Over the course of the year, Callon Petroleum Company shares have dropped approximately -8.83%. Shares of the company reached a 52-week high of $66.48 on 04/04/22 and a 52-week low of $42.44 on 05/12/22. A 50-day SMA is recorded $53.95, while a 200-day SMA reached $52.92. Nevertheless, trading volume fell to 2.75 million shares from 2.04 million shares the previous day.

Support And Resistance Levels for Callon Petroleum Company (CPE)

According to the 24-hour chart, there is a support level at 42.13, which, if violated, would cause prices to drop to 41.18. In the upper region, resistance lies at 44.93. The next price resistance is at 46.78. RSI (Relative Strength Index) is 34.02 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -9.79, which suggests the price will decrease in the coming days. Percent R is at 99.76%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Which companies own the most shares of Callon Petroleum Company (CPE)?

According to BlackRock Fund Advisors filings, the company currently owns 6,969,743 shares, which is about 11.30% of the total CPE shares outstanding. The investor’s shares have appreciated by 139,825 from its previous 13-F filing of 6829918.0 shares. With the completion of the buy, The Vanguard Group, Inc.’s stake is now worth $255,071,737. SSgA Funds Management, Inc. acquire a 19.33% interest valued at $206.49 million while Lord, Abbett & Co. LLC 1,093,939 stake. A total of -2,281,445 shares of Callon Petroleum Company by JB Investments Management LLC during the quarter, and 16,426 were bought by Geode Capital Management LLC. In its current portfolio, Millennium Management LLC holds 762,670 shares valued at $44.59 million.

In terms of Callon Petroleum Company share price expectations, FactSet research, analysts set an average price target of $83.71 in the next 12 months, up nearly 62.39% from the previous closing price of $48.34. Analysts anticipate Callon Petroleum Company stock to reach $145.00 by 2022, with the lowest price target being $60.00. In spite of this, 12 analysts ranked Callon Petroleum Company stock as a Hold at the end of 2022. On October 19, 2021, RBC Capital Mkts assigned a price target of “a Sector perform” to the stock and resumed coverage with a $66.

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