Callon Petroleum Company (NYSE:CPE) price on Wednesday, August 25, rose 4.52% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $32.63.
A look at the stock’s price movement, the close in the last trading session was $31.22, moving within a range at $31.0659 and $33.20. The beta value (5-Year monthly) was 3.52. Turning to its 52-week performance, $60.51 and $4.50 were the 52-week high and 52-week low respectively. Overall, CPE moved -15.82% over the past month.
Callon Petroleum Company’s market cap currently stands at around $1.45 billion, with investors looking forward to this quarter’s earnings report slated for Nov 01, 2021 – Nov 05, 2021. Analysts project the company’s earnings per share (EPS) to be $1.48, which has seen fiscal year 2021 EPS growth forecast to increase to $7.75 and about $12.05 for fiscal year 2022. Per the data, EPS growth is expected to be 171.00% for 2021 and 55.50% for the next financial year.
Analysts have a consensus estimate of $440.4 million for the company’s revenue for the quarter, with a low and high estimate of $287 million and $432.4 million respectively. The average forecast suggests up to a 180.10% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2021 to grow to $1.67 billion, representing a 61.30% jump on that reported in the last financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that CPE is a Hold. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in Hold category.
14 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 10 analyst(s) rate the stock as a Hold, 2 recommend CPE as a Buy and 1 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CPE’s current price about 0.23% and -24.42% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 45.35, while 7-day volatility ratio is 6.82% and 6.64% in the 30-day chart. Further, Callon Petroleum Company (CPE) has a beta value of 3.55, and an average true range (ATR) of 2.36. Analysts have given the company’s stock an average 52-week price target of $50.25, forecast between a low of $37.00 and high of $69.00. Looking at the price targets, the low is -13.39% off current price level while to achieve the yearly target high, price needs to move -111.46%. Nonetheless, investors will most likely welcome a -53.23% jump to $50.00 which is the analysts’ median price.
In the market, a comparison of Callon Petroleum Company (CPE) and its peers suggest the former has performed considerably stronger. Data shows CPE’s intraday price has changed 4.52% in last session and 343.95% over the past year. Looking at another peer, we see that Enterprise Products Partners L.P. (EPD) price has gained 0.45% on the day. However, the stock is 24.26% off its price a year ago. Moreover, Plains All American Pipeline L.P. (PAA) is also up 0.84% in trading on the day while keeping a an uptrend of 37.34% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are up 0.22% and 0.11% respectively in the last trading.
If we refocus on Callon Petroleum Company (NYSE:CPE), historical trading data shows that trading volumes averaged 1.81 million over the past 3 months. The company’s latest data on shares outstanding shows there are 46.27 million shares.
The 1.80% of Callon Petroleum Company’s shares are in the hands of company insiders while institutional holders own 78.90% of the company’s shares. Current price change has pushed the stock 147.95% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CPE stock continues to rise going into the next quarter.