Callon Petroleum Company (CPE) Shares are Down -4.65%

Callon Petroleum Company (CPE) has risen sharply, recording gains of 2.45% in the past 4 weeks. However, the stock has corrected -4.65% in the past 1 week, providing a good buying opportunity on dips. Callon Petroleum Company (CPE) : During the past 4 weeks, traders have been relatively bearish on Callon Petroleum Company (CPE), hence the stock is down -4.03% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -5.23% relative to the S&P 500.

Callon Petroleum Company (NYSE:CPE): The stock opened at $11.39 on Friday but the bulls could not build on the opening and the stock topped out at $11.49 for the day. The stock traded down to $11.25 during the day, due to lack of any buying support eventually closed down at $11.29 with a loss of -0.18% for the day. The stock had closed at $11.31 on the previous day. The total traded volume was 2,302,325 shares.


The stock has recorded a 20-day Moving Average of 2.26% and the 50-Day Moving Average is 2.15%. Callon Petroleum Company is up 8.45% in the last 3-month period. Year-to-Date the stock performance stands at 35.37%.

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.

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