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 $187.49 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 $213.96 million.

As published in their initiating research note from KeyBanc Capital Markets on September 20, 2022, Callon Petroleum Company [CPE] has been a Sector weight. Analysts at RBC Capital Mkts upgraded the stock from ‘”a Sector perform”‘ to ‘”an Outperform”‘ outlook in a report released in early July. As of April 18, 2022, ROTH Capital has increased its “Neutral” rating to a “Buy” for CPE. Earlier on March 08, 2022, Truist upgraded its rating. Their new recommendation was “a Buy” for CPE stock which previously was a “a Hold”.

Analyzing CPE’s Price Performance

On Thursday, Callon Petroleum Company [NYSE: CPE] plunged -2.93% to $36.05. The stock’s lowest price that day was $36.0396, but it reached a high of $38.63 in the same session. During the last five days, there has been a drop of approximately -12.46%. Over the course of the year, Callon Petroleum Company shares have dropped approximately -23.70%. Shares of the company reached a 52-week high of $66.48 on 04/04/22 and a 52-week low of $33.85 on 07/14/22. A 50-day SMA is recorded $41.16, while a 200-day SMA reached $49.75. Nevertheless, trading volume fell to 1.39 million shares from 1.82 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 35.18, which, if violated, would cause prices to drop to 34.32. In the upper region, resistance lies at 37.77. The next price resistance is at 39.50. RSI (Relative Strength Index) is 36.74 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.54, which suggests the price will decrease in the coming days. Percent R is at 99.89%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Callon Petroleum Company subject to short interest?

Stocks of Callon Petroleum Company saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.4 million shares to 5.01 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.41 million shares. A decline of -7.98% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.23 of the overall float, the days-to-cover ratio (short ratio) decline to 2.23.

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

According to BlackRock Fund Advisors filings, the company currently owns 7,049,600 shares, which is about 11.42% of the total CPE shares outstanding. The investor’s shares have appreciated by 79,857 from its previous 13-F filing of 6969743.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $224,028,264. SSgA Funds Management, Inc. reduced a -4.82% interest valued at $143.08 million while Fidelity Management & Research Co purchased a 1,284,314 stake. A total of 661,022 shares of Callon Petroleum Company were bought by Dimensional Fund Advisors LP during the quarter, and 5,892 were bought by Geode Capital Management LLC. In its current portfolio, Alyeska Investment Group LP holds 748,830 shares valued at $31.87 million.

In terms of Callon Petroleum Company share price expectations, FactSet research, analysts set an average price target of $71.17 in the next 12 months, up nearly 83.09% from the previous closing price of $37.14. Analysts anticipate Callon Petroleum Company stock to reach $132.00 by 2022, with the lowest price target being $45.00. In spite of this, 13 analysts ranked Callon Petroleum Company stock as a Hold at the end of 2022. On January 21, 2022, JP Morgan assigned a price target of “an Underweight” to the stock and downgraded coverage with a $62.

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