Callon Petroleum Company (NYSE:CPE), A increase of 134,111 shares or 0.9% was observed in the short interest of Callon Petroleum The interest on June 15,2016 came in at 15,320,162 shares and as per the average daily trading of 2,373,801 shares, the days to cover are 6. The increased interest is 11.9% of the floated shares. The data of May 31,2016 put the interest at 15,186,051 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Callon Petroleum Company (NYSE:CPE): The stock opened at $11.08 on Friday but the bulls could not build on the opening and the stock topped out at $11.55 for the day. The stock traded down to $10.94 during the day, due to lack of any buying support eventually closed down at $11.02 with a loss of -7.16% for the day. The stock had closed at $11.87 on the previous day. The total traded volume was 6,632,255 shares.
The company shares have rallied 33.74% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $12.56 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $11.44 and the 200 Day Moving Average price is recorded at $8.75.
Callon Petroleum Company (NYSE:CPE) has tumbled 5.97% during the past week and has dropped 3.92% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 4.41%. Callon Petroleum Company (NYSE:CPE) has underperformed the index by 1.02% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Callon Petroleum Company is an independent oil and natural gas company. The Company is engaged in the exploration, development, acquisition and production of oil and natural gas properties. The Company is focused on unconventional, onshore, oil and natural gas reserves in the Permian Basin in West Texas and the Midland Basin. Its asset base is concentrated in the Midland Basin located within the broader Permian Basin. Its operations are focused on horizontal drilling of several prospective intervals, including multiple levels of the Wolfcamp formation. The Company operates two horizontal drilling rigs focused on four prospective zones for development. The Company drilled approximately 27 gross (24.4 net) horizontal and 7 gross (4.3 net) vertical wells, while completing around 31 gross (27.3 net) horizontal and 5 gross (3.1 net) vertical wells. The Company also owns 6,230 gross (3,862 net) acres located in Midland, Andrews and Martin Counties.