Callon Petroleum Company (NYSE:CPE) Stock Bears Get a Bullish Change of Heart

The stock is lingering around the initial support level of $4.07. After this, the following support is at the zone of $4.03. Up until the time the CPE stock hit levels beyond the current one, bulls should have no alarm. In terms of its momentum, the stock’s RSI hit 42.54 on the daily chart, and this may be a cause for concern. In case the price goes below $4.03 level on closing basis, there may be more profit booking with the stock growing weaker. Still, getting to the $4.16 level may cause a pull-back move approaching $4.2 mark.

Callon Petroleum Company (CPE) is most likely going to rise 86.05 percent in the coming 12 months, as per price target approximations compiled by finviz. Nevertheless, they have set the price target at a $11 as 12-month high price target. This represents a whopping 160.05 percent increase from the current trading price of shares. The 52-week median price target given by the analysts is $8, which means a return possibility of 89.13 percent in comparison with the closing price of the stock of $4.23 in recent trading session. The lowest price set for the stock is $5 which is just above 18.2 percent from CPE share’s price at the end of session.

Let’s take a glimpse at some insider activity at Callon Petroleum Company (NYSE:CPE) and observe the pattern. The earliest insider trade happened on 08/27/2019. Faulkenberry Barbara J gathered a total of 2.42 thousand shares of the firm at average share price of $4.16. The total amount for the purchase was set at $10.05 thousand. On completing this exchange, the Director account balance was 14.69 thousand shares. The stock lost -0.72 percent from that insider purchase. On 12/11/2018, Faulkenberry Barbara J, Director, did a purchase of 0.63 thousand shares at a price of $7.97 per share. This increased 4.98 thousand shares to the insider’s fortune and the stock experienced a -48.18 percent retreat in price since the news became public. This exchange saw 0.63 thousand shares get into the Director account. On 09/18/2018, Vice President and CAO Conn Mitzi P recorded a sale transaction valued at $176.4 thousand. The sale at $11.76 a share has eliminated 15 thousand shares from the insider’s portfolio position. Meanwhile, shares price witnessed -64.88 percent decrease since the transaction reporting date. The company insider is left with 66.41 thousand shares remaining in the account. WEANT JERRY A, who works as Vice President of Land at the company, performed a sale of 4 thousand shares in a transaction worth $57.8 thousand. The disposal recorded on 02/14/2017 was priced at $14.45 per share. The stock price plunged -71.42 percent since the transaction. WEANT JERRY A currently holds a stake of 57.89 thousand in CPE stock which is worth $244.85 thousand after the insider selling.

In the recent trading session, Callon Petroleum Company (NYSE:CPE) shares gained 2.67% or 0.11 points to reach at $4.23 with a thin trading volume of 2.478 million shares. It opened the trading session at $4.1, the shares rose to $4.155 and dropped to $4.07, the range by which the price of stock traded the whole session. The company now has a market cap of $1.7 billion and currently has 411.81 million outstanding shares. Callon Petroleum Company (CPE) stock has plunged -3.06 percent of market value in 21 trading days.

Stock analysts at Johnson Rice cut their rating on shares of Callon Petroleum Company (NYSE:CPE) from Buy to a new rating of Accumulate in their opinion released on November 19. Williams Capital Group analysts again handed out a Buy rating to CPE shares but they lifted target price for the firm in a flash note to investors on July 16. The price target has been raised from $12 to the new $10. Williams Capital Group, analysts launched coverage of CPE shares with a Buy recommendation, according to their flash note to investors on July 16. Analysts at Imperial Capital are sticking to their In-line recommendation for the stock. However, on July 16, they lifted target price to $11 from the prior target set at $16. Analysts at Imperial Capital, made their first call for this company shares with a In-line rating, according to a research note that dated back to July 16.

CPE stock’s trailing 3-year beta is 1.61, meaning there will be a greater rate of return, although posing a higher risk. The part of a firm’s profit given to each outstanding share of regular stock was $1.02 share in the trailing 52 weeks. The stock’s value fallen -14.7 percent year to date (YTD) compared to a decline of -50.72 percent in 52 week’s period. The firm’s shares are still trading -50.53 percent below its 1-year high of $8.55 and 20.51 percent up from 52-week low of $3.51. The average consensus ranking on the company is 1.8, on a ranging where 5 is equal to a consensus sell rating. In other words, the mean analyst recommendations are ranking this stock as a buy.

Callon Petroleum Company (CPE) shares are trading at a P/E ratio of 4.11 times earnings posted in the trailing 12 months. The industry CPE deals with has an average P/E of 15.44. Its P/B ratio is standing at 0.38X compared to the 2.12 industry average. It is additionally sporting a 1.56 on the Price-to-Sales ratio, compared to the industry’s P/S average of 0.77. Callon Petroleum Company has a 78.9% gross profit margin, with its operating margin around 33.4%. Alongside this, the company’s net profit margin currently stands at 36.6%.

Past records have indicated that shares in Callon Petroleum Company rose on 20 different earnings reaction days and we have yet to see whether this trend will play out and remain in place when the company reports upcoming earnings. Investors will get the next hint of CPE’s Q4 earnings on March 03. Analysts are predicting revenue to climb 4.4 percent to $169M in the financial fourth quarter, while EPS will soar by about 11.76 percent to $0.19 per share. In the last quarter, it’s earnings of $0.16 per share came worse than the $0.17831, adjusted, expected by Thomson Reuters consensus estimate. Revenue for the quarter was $161.9M, topping the $158.46M analysts had expected. Earnings are seen to rise by 140.6 percent this year, 61.39 percent in the coming year and the trend continues by 23.49 percent every year in the next 5 years.