Short Interest Update on Callon Petroleum Company (CPE)

Callon Petroleum Company (CPE) : Traders are getting increasingly bearish on Callon Petroleum Company (CPE), as can be seen in the addition of short positions from 18,695,771 on Jul 29, 2016, to 20,073,194 on August 15, 2016. The net change in shorts is 1,377,423 shares, an increase of 7.4%. 5 days remain before the expiry. The 15.5% of outstanding short positions on the stock compared to its float, shows that traders expect the stock to fall from the current levels. The daily volume of the stock is 4,271,177. The short interest information was released on Wednesday Aug 24th after the market close.

Callon Petroleum Company (NYSE:CPE): The stock opened at $14.17 on Wednesday but the bulls could not build on the opening and the stock topped out at $14.36 for the day. The stock traded down to $13.98 during the day, due to lack of any buying support eventually closed down at $14.14 with a loss of -0.98% for the day. The stock had closed at $14.28 on the previous day. The total traded volume was 2,795,700 shares.


In a related news, Weant Jerry A, officer (Vice President of Land) of Callon Petroleum Co had purchased 1,000 shares on January 13, 2016 in a transaction. The price per share was $6 and the total amount of the disclosed transaction was $6,000.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.