Callon Petroleum Company (NYSE:CPE) traded at $43.09 at close of the session on Tuesday, 11/22/22, made an upward move of 5.35% on its previous day’s price.
Looking at the stock we see that its previous close was $40.90 and the beta (5Y monthly) reads 2.70 with the day’s price range being $41.11 – $43.10. The company has a trailing 12-month PE ratio of 2.16. In terms of its 52-week price range, CPE has a high of $66.48 and a low of $31.23. The company’s stock has lost about -1.96% over that past 30 days.
Callon Petroleum Company has a market cap of $2.67 billion and is expected to release its quarterly earnings report on Feb 21, 2023 – Feb 27, 2023. Estimates by analysts give the company expected earnings per share (EPS) of $3.82, with the EPS growth for the year raised at $14.94 for 2022 and $15.53 for next year. These figures represent 71.90% and 3.90% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $669.39 million, with a low of $576 million and a high of $822.3 million. The median projection represents growth adding up to -3.30% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $2.7 billion, or 32.20% up from figures reported last year.
There have been 1 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the CPE stock, short term indicators assign the stock an average of Hold, while medium term indicators assign it an average of Hold. Long term indicators on average place the stock in the category of 50% Sell.
Based on estimates by 14 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 8 have rated the Callon Petroleum Company (CPE) stock as a Hold, while 4 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 2 suggest the stock as a Sell. The stock has an overall rating of Hold and investors could take advantage and scoop up stock of the company.
Looking further, we note that the PEG ratio for the CPE stock currently stands at 0.09, and the current price level is -3.14% off its SMA20 and 2.94% from its 50-day simple moving average. The RSI (14) is pointing at 49.08 while the volatility over the past week is 5.04% and jumps to 5.23% over the past one month. The beta value is 2.70, while the average true range (ATR) is currently pointing at 2.48. The average price target for the stock over the next 12 months is $61.19, with the estimates having a low of $49.00 and a high of $80.00. These price ends are -13.72% and -85.66% off the current price level respectively, although investors could be excited at the prospect of a -34.6% if the CPE share price touches on the median price of $58.00.
Let’s briefly compare Callon Petroleum Company (CPE) stock to its peers. We find that current price change of 5.35% and -19.31% over the past 12 months for CPE competes that of Shell plc (SHEL), which has seen its stock price rise 3.89% in the last trading session and was 31.74% over the last one year. Another of its peers Enterprise Products Partners L.P. (EPD) has gained 0.61% previous session, and was 12.95% up over the past year, while Plains All American Pipeline L.P. (PAA) was also up 2.22% in the last session, while its price remained in the green at 25.71% over the same period. Callon Petroleum Company has a P/E ratio of 2.16 compared to Shell plc’s 4.96 and Enterprise Products Partners L.P.’s 10.82. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at 1.36% and 1.18%, respectively, at close of the trading.
Coming back to Callon Petroleum Company (NYSE:CPE), we note that the average 3-month trading volume was 1.48 million, while that of the preceding 10-day period stands at 1.43 million. Current shares outstanding are 61.70 million.
The insiders hold 1.00% of the company’s shares while institutions hold 86.70%. The data shows that short shares as of Oct 30, 2022, stood at 6.6 million at a short ratio of 5.04. This represents a 10.71% short interest in shares outstanding on Oct 30, 2022. Shares short fall in October from the previous month at 6.65 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -8.80% down in year-to-date price movement.