Callon Petroleum Company (CPE) has risen sharply, recording gains of 2.55% in the past 4 weeks. However, the stock has corrected -3.6% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 4.67% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 0.99% and the 50-Day Moving Average is 11.08%.The 200 Day SMA reached 46% Callon Petroleum Company is up 23.55% in the last 3-month period. Year-to-Date the stock performance stands at 73.62%.
Callon Petroleum Company (CPE) has been rated by 17 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $20 and the lowest price target forecast is $11. The average forecast of all the analysts is $17.41 and the expected standard deviation is $1.91.
For the current week, the company shares have a recommendation consensus of Buy. Callon Petroleum Company (NYSE:CPE): The stock opened at $13.94 and touched an intraday high of $14.5 on Friday. During the day, the stock corrected to an intraday low of $13.78, however, the bulls stepped in and pushed the price higher to close in the green at $14.48 with a gain of 2.04% for the day. The total traded volume for the day was 7,124,486. The stock had closed at $14.48 in the previous trading session.
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.