After Today’s Bullish Options Activity, Is Callon Petroleum Company’s Near-Term Analysis Positive?

 After Today's Bullish Options Activity, Is Callon Petroleum Company's Near Term Analysis Positive?

In today’s session Callon Petroleum Company (CPE) registered an unusually high (284) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious CPE increase. With 284 contracts traded and 1244 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: CPE161216C00015000 closed last at: $1.15 or 64.3% up. About 1.48 million shares traded hands. Callon Petroleum Company (NYSE:CPE) has risen 59.84% since April 21, 2016 and is uptrending. It has outperformed by 54.51% the S&P500.

Analysts await Callon Petroleum Company (NYSE:CPE) to report earnings on March, 1. They expect $0.10 earnings per share, up 100.00% or $0.05 from last year’s $0.05 per share. CPE’s profit will be $16.49M for 40.33 P/E if the $0.10 EPS becomes a reality. After $0.09 actual earnings per share reported by Callon Petroleum Company for the previous quarter, Wall Street now forecasts 11.11% EPS growth.

Callon Petroleum Company (NYSE:CPE) Ratings Coverage

Out of 20 analysts covering Callon Petroleum (NYSE:CPE), 17 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 85% are positive. Callon Petroleum has been the topic of 40 analyst reports since July 21, 2015 according to StockzIntelligence Inc. RBC Capital Markets initiated Callon Petroleum Company (NYSE:CPE) on Monday, September 21 with “Sector Perform” rating. The firm has “Neutral” rating by Citigroup given on Monday, July 18. The firm has “Overweight” rating given on Monday, August 22 by KeyBanc Capital Markets. The rating was maintained by RBC Capital Markets on Tuesday, February 2 with “Sector Perform”. The stock of Callon Petroleum Company (NYSE:CPE) has “Market Perform” rating given on Tuesday, September 8 by Cowen & Co. Wunderlich maintained Callon Petroleum Company (NYSE:CPE) on Thursday, May 26 with “Buy” rating. Zacks upgraded Callon Petroleum Company (NYSE:CPE) rating on Thursday, August 6. Zacks has “Hold” rating and $8.50 price target. The stock of Callon Petroleum Company (NYSE:CPE) has “Buy” rating given on Thursday, September 8 by Canaccord Genuity. The rating was initiated by Mizuho with “Neutral” on Thursday, October 6. Credit Suisse initiated Callon Petroleum Company (NYSE:CPE) rating on Tuesday, May 24. Credit Suisse has “Outperform” rating and $14 price target.

According to Zacks Investment Research, “Callon Petroleum Company has been engaged in the exploration, development, acquisition and production of oil and gas properties since 1950.”

Insitutional Activity: The institutional sentiment decreased to 1.55 in Q2 2016. Its down 0.83, from 2.38 in 2016Q1. The ratio worsened, as 19 funds sold all Callon Petroleum Company shares owned while 41 reduced positions. 60 funds bought stakes while 83 increased positions. They now own 125.08 million shares or 27.96% more from 97.75 million shares in 2016Q1.
Meeder Asset Management last reported 0% of its portfolio in the stock. Eqis Capital Mngmt Inc last reported 18,254 shares in the company. Eagle Asset holds 0.08% or 1.07 million shares in its portfolio. The Pennsylvania-based Emerald Advisers Pa has invested 0.42% in Callon Petroleum Company (NYSE:CPE). Driehaus Mgmt Limited Liability Co accumulated 582,143 shares or 0.23% of the stock. Moreover, Point72 Asset Mgmt L P has 0.26% invested in Callon Petroleum Company (NYSE:CPE) for 3.47 million shares. Moreover, Rainier Investment Mgmt Limited Company has 0.89% invested in Callon Petroleum Company (NYSE:CPE) for 1.63M shares. Cipher L P last reported 0.23% of its portfolio in the stock. Tiaa Cref Inv Llc has 1.39M shares for 0.01% of their US portfolio. Dreman Value Management L L C accumulated 0.18% or 25,375 shares. Wells Fargo And Com Mn holds 0% of its portfolio in Callon Petroleum Company (NYSE:CPE) for 1.11M shares. Vanguard Group Inc accumulated 5.27 million shares or 0% of the stock. Brant Point holds 237,600 shares or 0.25% of its portfolio. Miller Howard Invests Ny last reported 0.07% of its portfolio in the stock. Teachers Advsr holds 0.06% or 3.09 million shares in its portfolio.

Callon Petroleum Company is an independent oil and natural gas company. The company has a market cap of $2.66 billion. The Firm is engaged in the exploration, development, acquisition and production of oil and natural gas properties. It currently has negative earnings. It focuses on unconventional, onshore, oil and natural gas reserves in the Permian Basin in West Texas and the Midland Basin.

CPE Company Profile

Callon Petroleum Company, incorporated on March 29, 1994, is an independent oil and natural gas company. The Firm is engaged in the exploration, development, acquisition and production of oil and natural gas properties. The Firm focuses on the acquisition, development, exploration and exploitation of unconventional, onshore, oil and natural gas reserves in the Permian Basin in West Texas and the Midland Basin. The Company’s asset base is concentrated in the Midland Basin located within the broader Permian Basin. The Company’s activities are focused on horizontal drilling of several prospective intervals, including multiple levels of the Wolfcamp formation and the Lower Spraberry shale.

More notable recent Callon Petroleum Company (NYSE:CPE) news were published by: Prnewswire.com which released: “Callon Petroleum Company Announces Upcoming Investor Events” on November 17, 2016, also Prnewswire.com with their article: “Callon Petroleum Company Announces Howard County Acquisition and Operational …” published on September 06, 2016, Prnewswire.com published: “Callon Petroleum Company Announces Closing of Midland Basin Acquisition” on October 24, 2016. More interesting news about Callon Petroleum Company (NYSE:CPE) were released by: Prnewswire.com and their article: “Callon Petroleum Company Announces Pricing of Upsized $400 Million Placement …” published on September 12, 2016 as well as Prnewswire.com‘s news article titled: “Callon Petroleum Company Announces Third Quarter 2016 Earnings Release and …” with publication date: October 06, 2016.

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