Callon Petroleum Co. [CPE] gain 10.37% so far this year. What now?

Callon Petroleum Co. [NYSE: CPE] traded at a high on Thursday, posting a 1.82 gain after which it closed the day’ session at $35.76. The company report on March 29, 2024 at 8:00 AM that CALLON PETROLEUM COMPANY ANNOUNCES EXPIRATION AND FINAL RESULTS OF ITS TENDER OFFERS AND CONSENT SOLICITATIONS.

Callon Petroleum Company (NYSE: CPE) (“Callon” or the “Company”) today announced the expiration and final tender results of its previously announced cash tender offers (the “Offers”) for any and all of its 8.000% Senior Notes due 2028 (the “2028 Notes”) and any and all of its 7.500% Senior Notes due 2030 (the “2030 Notes” and, together with the 2028 Notes, the “Notes”). The terms and conditions of the Offers and the Consent Solicitations (as defined below) are set forth in the Offer to Purchase and Consent Solicitation Statement, dated as of March 1, 2024 (as it may be amended or supplemented from time to time, the “Statement”).

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The Offers and the Consent Solicitations expired at 11:59 p.m., New York City time, on March 28, 2024 (the “Expiration Time”) and no tenders submitted after the Expiration Time are valid. According to information provided by D.F. King & Co, Inc., the Information Agent and Tender Agent for the Offers, $615,000 aggregate principal amount of 2028 Notes and $177,000 aggregate principal amount of 2030 Notes were validly tendered after 5:00 p.m., New York City time, on March 14, 2024 (the “Consent Fee Deadline”) but at or prior to the Expiration Time, pursuant to the Offers.

The results of the trading session contributed to over 30364888 shares changing hands. Over the past one week, the price volatility of Callon Petroleum Co. stands at 3.50% while the volatility over the past one month is 2.67%.

The market cap for CPE stock reached $2.38 billion, with 66.47 million shares outstanding and 52.27 million shares in the current float. Compared to the average trading volume of 1.66M shares, CPE reached a trading volume of 30364888 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $42.14 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 2.64. 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.

Mizuho have made an estimate for Callon Petroleum Co. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 03, 2024. While these analysts kept the previous recommendation, Citigroup raised their target price from $40 to $45. The new note on the price target was released on August 16, 2023, representing the official price target for Callon Petroleum Co. stock. Previously, the target price had yet another raise to $59, while Mizuho analysts kept a Buy rating on CPE stock.

The Average True Range (ATR) for Callon Petroleum Co. is set at 1.02, with the Price to Sales ratio for CPE stock in the period of the last 12 months amounting to 1.02. The Price to Book ratio for the last quarter was 0.60, with the Price to Cash per share for the same quarter was set at 0.05.

How has CPE stock performed recently?

Callon Petroleum Co. [CPE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.30. With this latest performance, CPE shares gained by 14.54% in over the last four-week period, additionally sinking by -9.95% over the last 6 months – not to mention a rise of 9.96% 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 63.30, with the RSI for the last a single of trading hit 64.62, and the three-weeks RSI is set at 61.08 for Callon Petroleum Co. [CPE]. The present Moving Average for the last 50 days of trading for this stock 32.48, while it was recorded at 35.21 for the last single week of trading, and 34.58 for the last 200 days.

Callon Petroleum Co. [CPE]: Deeper insight into the fundamentals

Callon Petroleum Co.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.39 and a Current Ratio set at 0.39.

Earnings analysis for Callon Petroleum Co. [CPE]

With the latest financial reports released by the company, Callon Petroleum Co. posted 1.94/share EPS, while the average EPS was predicted by analysts to be reported at 2.09/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -7.20%. 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%.

Insider trade positions for Callon Petroleum Co. [CPE]

The top three institutional holders of CPE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CPE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CPE stock with ownership which is approximately 5.8325%.