The stock of Callon Petroleum Company (NYSE:CPE) is a huge mover today! About 4.99M shares traded hands or 14.45% up from the average. Callon Petroleum Company (NYSE:CPE) has risen 31.96% since April 27, 2016 and is uptrending. It has outperformed by 26.74% the S&P500.
The move comes after 9 months positive chart setup for the $2.74 billion company. It was reported on Nov, 30 by Barchart.com. We have $18.64 PT which if reached, will make NYSE:CPE worth $137.00 million more.
Analysts await Callon Petroleum Company (NYSE:CPE) to report earnings on March, 1. They expect $0.10 EPS, up 100.00% or $0.05 from last year’s $0.05 per share. CPE’s profit will be $15.44M for 44.38 P/E if the $0.10 EPS becomes a reality. After $0.09 actual EPS 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 21 analysts covering Callon Petroleum (NYSE:CPE), 18 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 86% are positive. Callon Petroleum has been the topic of 41 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was maintained by Citigroup on Thursday, August 11 with “Neutral”. The company was upgraded on Monday, May 16 by Howard Weil. The firm earned “Outperform” rating on Monday, November 9 by Imperial Capital. The stock of Callon Petroleum Company (NYSE:CPE) earned “Outperform” rating by Imperial Capital on Tuesday, February 9. The firm has “Buy” rating given on Wednesday, March 30 by Seaport Global. The rating was maintained by JP Morgan with “Overweight” on Thursday, August 11. RBC Capital Markets upgraded Callon Petroleum Company (NYSE:CPE) rating on Thursday, September 8. RBC Capital Markets has “Outperform” rating and $18 price target. The firm has “Buy” rating by Evercore given on Wednesday, September 28. Imperial Capital maintained Callon Petroleum Company (NYSE:CPE) on Monday, May 9 with “Outperform” rating. KeyBanc Capital Markets initiated it with “Overweight” rating and $11 target price in Friday, August 14 report.
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.
Moreover, Morgan Stanley has 0% invested in Callon Petroleum Company (NYSE:CPE) for 608,935 shares. Penn Capital Mgmt owns 40,086 shares or 0.03% of their US portfolio. Doheny Asset Mgmt Ca accumulated 20,775 shares or 0.12% of the stock. Invesco Limited holds 0% of its portfolio in Callon Petroleum Company (NYSE:CPE) for 586,896 shares. Moreover, E&G Advsr L P has 0.33% invested in Callon Petroleum Company (NYSE:CPE) for 47,900 shares. The Massachusetts-based Wellington Mngmt Grp Llp has invested 0.02% in Callon Petroleum Company (NYSE:CPE). Dimensional Fund Advisors Ltd Partnership accumulated 5.43 million shares or 0.04% of the stock. Moreover, Bank & Trust Of Montreal Can has 0% invested in Callon Petroleum Company (NYSE:CPE) for 3,161 shares. Blackrock Fund Advisors, a California-based fund reported 2.90M shares. Principal Fincl Grp Incorporated Inc, a Iowa-based fund reported 724,108 shares. The South Carolina-based Greenwood Cap Assoc Limited Liability Company has invested 0.08% in Callon Petroleum Company (NYSE:CPE). Great West Life Assurance Can has invested 0% of its portfolio in Callon Petroleum Company (NYSE:CPE). Blackrock Institutional Trust Na has invested 0.01% of its portfolio in Callon Petroleum Company (NYSE:CPE). Sir Cap Mgmt L P accumulated 1.38M shares or 2.31% of the stock. Eam Limited Co has 262,068 shares for 0.44% of their US portfolio.
Another recent and important Callon Petroleum Company (NYSE:CPE) news was published by Prnewswire.com which published an article titled: “Callon Petroleum Company Announces Upcoming Investor Events” on November 17, 2016.
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.
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