The Attractiveness of Investing In Callon Petroleum Company (CPE) is Growing


In a filing, Callon Petroleum Company revealed 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 $ 24.82 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 $24.12 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 9.6 to its Friday closing price.

Price Performance Review of CPE

On Friday, Callon Petroleum Company [NYSE:CPE] saw its stock jump 3.70% to $40.68. On the same session, the stock had its day’s lowest price of $39.79, but rose to a high of $40.88. Over the last five days, the stock has gained 10.51%. Callon Petroleum Company shares have risen nearly 9.68% since the year began. Nevertheless, the stocks have fallen -4.42% 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 $35.77, while 200 days put it at $36.12. A total of 1.47 million shares were traded, compared to the trading of 1.73 million shares in the previous session.

Levels Of Support And Resistance For CPE Stock

The 24-hour chart illustrates a support level at 40.02, which if violated will result in even more drops to 39.36. On the upside, there is a resistance level at 41.11. A further resistance level may holdings at 41.54. The Relative Strength Index (RSI) on the 14-day chart is 72.90, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.40, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 3.53%. Stochastics %K at 96.65% indicates the stock is a selling.

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 24.9 percent from its previous closing price of $39.23. 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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