Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. 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 $194.09 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 $221.49 million.
As published in their initiating research note from Mizuho on January 10, 2023, Callon Petroleum Company [CPE] has been a Buy and the price target has been revised to $59. This represents a 36.75% premium over Thursday’s closing price. Analysts at JP Morgan upgraded the stock from ‘”an Underweight”‘ to ‘”a Neutral”‘ outlook in a report released in early December. As of September 20, 2022, KeyBanc Capital Markets has initiated its “Sector weight” rating for CPE. Earlier on July 06, 2022, RBC Capital Mkts upgraded its rating. Their new recommendation was “an Outperform” for CPE stock which previously was a “a Sector perform”.
Analyzing CPE Stock Performance
On Thursday, Callon Petroleum Company [NYSE: CPE] rose 7.24% to $37.32. The stock’s lowest price that day was $35.80, but it reached a high of $37.67 in the same session. During the last five days, there has been a drop of approximately -7.62%. Over the course of the year, Callon Petroleum Company shares have jumped approximately 0.62%. Shares of the company reached a 52-week high of $44.49 on 01/27/23 and a 52-week low of $33.58 on 01/04/23. A 50-day SMA is recorded $38.47, while a 200-day SMA reached $42.26. Nevertheless, trading volume fell to 2.96 million shares from 2.13 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 36.19, which, if violated, would cause prices to drop to 35.06. In the upper region, resistance lies at 38.06. The next price resistance is at 38.80. RSI (Relative Strength Index) is 43.96 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.43, which suggests the price will decrease in the coming days. Percent R is at 60.46%, indicating low 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 Jan 30, 2023 dropping by -0.15 million shares to 5.73 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 5.88 million shares. A decline of -2.62% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 6.12 of the overall float, the days-to-cover ratio (short ratio) decline to 6.12.
Which companies own the most shares of Callon Petroleum Company (CPE)?
According to BlackRock Fund Advisors filings, the company currently owns 7,560,121 shares, which is about 12.27% of the total CPE shares outstanding. The investor’s shares have appreciated by 510,521 from its previous 13-F filing of 7049600.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $280,301,401. SSgA Funds Management, Inc. acquire a 23.49% interest valued at $191.76 million while Fidelity Management & Research Co purchased a 245,038 stake. A total of 261,316 shares of Callon Petroleum Company were bought by Dimensional Fund Advisors LP during the quarter, and 207,514 were bought by Marshall Wace LLP. In its current portfolio, Channing Capital Management LLC holds 916,634 shares valued at $39.0 million.