Callon Petroleum Company [CPE] Investment Appeal on the Rise

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Callon Petroleum Company’s recently made public that its Director WEBSTER STEVEN A acquired Company’s shares for reported $0.23 million on May 31. In the deal valued at $30.50 per share,7,384 shares were bought. As a result of this transaction, WEBSTER STEVEN A now holds 610,208 shares worth roughly $ 22.46 million.

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Then, WEBSTER STEVEN A bought 10,000 shares, generating $302,450 in total proceeds. Upon buying the shares at $30.25, the Director now owns 602,824 shares.

Before that, WEBSTER STEVEN A bought 10,000 shares. Callon Petroleum Company shares valued at $302,400 were divested by the Director at a price of $30.24 per share. As a result of the transaction, WEBSTER STEVEN A now holds 592,824 shares, worth roughly $21.82 million.

Citigroup upgraded its Callon Petroleum Company [CPE] rating to a Buy from a a Neutral in a research note published on Friday, August 16, 2023; the price target was increased to $45 from $40. PT values the company’s stock at a premium of 18.2 to its Friday closing price.

Price Performance Review of CPE

On Friday, Callon Petroleum Company [NYSE:CPE] saw its stock jump 2.53% to $36.81. On the same session, the stock had its day’s lowest price of $35.96, but rose to a high of $37.14. Over the last five days, the stock has gained 0.11%. Callon Petroleum Company shares have fallen nearly -0.75% since the year began. Nevertheless, the stocks have fallen -16.17% over the past one year. While a 52-week high of $50.19 was reached on 01/27/23, a 52-week low of $28.91 was recorded on 03/16/23. SMA at 50 days reached $35.26, while 200 days put it at $36.26. A total of 1.29 million shares were traded, compared to the trading of 1.21 million shares in the previous session.

Levels Of Support And Resistance For CPE Stock

The 24-hour chart illustrates a support level at 36.13, which if violated will result in even more drops to 35.46. On the upside, there is a resistance level at 37.31. A further resistance level may holdings at 37.82. The Relative Strength Index (RSI) on the 14-day chart is 55.28, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.24, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 54.15%. Stochastics %K at 32.00% indicates the stock is a holding.

How much short interest is there in Callon Petroleum Company?

A steep rise in short interest was recorded in Callon Petroleum Company stocks on Aug 14, 2023, growing by 1.04 million shares to a total of 13.18 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 12.14 million shares. There was a rise of 7.89%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 25.17% of the overall stock float, the days-to-cover ratio (short ratio) rose to 7.45.

Callon Petroleum Company [CPE] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 8,135,142 shares, or roughly 11.94% of the outstanding CPE shares. In other words, the investor’s shares have risen by 577,279 from its previous 13-F filing of 7557863.0. Additionally, The Vanguard Group, Inc. decreased -1.70% of its stake after which the total value it holdings stand at $245,344,549, while SSgA Funds Management, Inc. added 8.84% of its stake to hold $153.0 million in the firm. Over the last quarter, Dimensional Fund Advisors LP purchased 484,733 shares of Callon Petroleum Company, while Fidelity Management & Research Co bought 46,427 shares. At present, Condire Management LP is holding 1,485,039 shares valued at $55.78 million. Pacer Advisors, Inc. owned 1,286,936 shares of the company at the time of its most recent 13F filing, worth $48.34 million.

According to FactSet, Callon Petroleum Company’s share price will average $47.98 in the next year, based on opinions of analysts polled by the firm. This is up nearly 36.49 percent from its previous closing price of $35.90. Analysts expect Callon Petroleum Company stock to reach the higher price of $59.00, while the lowest price estimate is $35.00. However, 16 analysts have rated CPE stock as an Overweight in their predictions for 2023.

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