Callon Petroleum Co. [CPE] Stock trading around $37.08 per share: What’s Next?

Callon Petroleum Co. [NYSE: CPE] surged by $0.28 during the normal trading session on Thursday and reaching a high of $37.27 during the day while it closed the day at $37.08. The company report on November 1, 2023 at 4:15 PM that Callon Petroleum Company Reports Third Quarter 2023 Results.

Reduced long-term debt to $1.9 billionReiterated full-year 2023 capital expenditure outlook of $960 – $980 million Recent efficiency gains are expected to reduce 2024 drilling, completion, and facilities costs by more than 15% per well.

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Callon Petroleum Company (NYSE: CPE) (“Callon” or the “Company”) today reported third quarter 2023 financial and operating results. A conference call is planned for 8 a.m. CT, Thursday, November 2; participation details can be found in this release. Slides accompanying today’s release are available at

Callon Petroleum Co. stock has also loss -3.36% of its value over the past 7 days. However, CPE stock has inclined by 0.90% in the 3 months of the year. Over the past six months meanwhile, it has gained 17.90% and lost -0.03% year-on date.

The market cap for CPE stock reached $2.53 billion, with 61.62 million shares outstanding and 52.49 million shares in the current float. Compared to the average trading volume of 1.61M shares, CPE reached a trading volume of 3411086 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Callon Petroleum Co. [CPE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CPE shares is $48.71 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CPE stock is a recommendation set at 2.29. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for Callon Petroleum Co. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 16, 2023.

The Average True Range (ATR) for Callon Petroleum Co. is set at 1.48, with the Price to Sales ratio for CPE stock in the period of the last 12 months amounting to 1.03. The Price to Book ratio for the last quarter was 0.65, with the Price to Cash per share for the same quarter was set at 0.05.

CPE stock trade performance evaluation

Callon Petroleum Co. [CPE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.36. With this latest performance, CPE shares gained by 10.23% in over the last four-week period, additionally plugging by 17.90% over the last 6 months – not to mention a drop of -17.64% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CPE stock in for the last two-week period is set at 44.44, with the RSI for the last a single of trading hit 39.71, and the three-weeks RSI is set at 46.91 for Callon Petroleum Co. [CPE]. The present Moving Average for the last 50 days of trading for this stock 38.11, while it was recorded at 37.29 for the last single week of trading, and 36.12 for the last 200 days.

Callon Petroleum Co. [CPE]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Callon Petroleum Co. [CPE] shares currently have an operating margin of +52.04 and a Gross Margin at +53.81. Callon Petroleum Co.’s Net Margin is presently recorded at +37.44.

Return on Total Capital for CPE is now 34.01, given the latest momentum, and Return on Invested Capital for the company is 24.47. Return on Equity for this stock inclined to 48.87, with Return on Assets sitting at 20.69. When it comes to the capital structure of this company, Callon Petroleum Co. [CPE] has a Total Debt to Total Equity ratio set at 72.64. Additionally, CPE Total Debt to Total Capital is recorded at 42.08, with Total Debt to Total Assets ending up at 36.47. Long-Term Debt to Equity for the company is recorded at 72.64, with the Long-Term Debt to Total Capital now at 42.08.

Reflecting on the efficiency of the workforce at the company, Callon Petroleum Co. [CPE] managed to generate an average of $3,417,559 per employee. Receivables Turnover for the company is 13.76 with a Total Asset Turnover recorded at a value of 0.55.Callon Petroleum Co.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.40.

Earnings per share (EPS) analysis for Callon Petroleum Co. [CPE] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CPE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Callon Petroleum Co. go to 6.00%.

Callon Petroleum Co. [CPE]: Institutional Ownership

The top three institutional holders of CPE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in CPE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in CPE stock with ownership which is approximately 5.7994%.