Callon Petroleum Company (CPE) Shares: Cheap or Risky?

Callon Petroleum Company (NYSE:CPE) saw an upside of 1.99% to close Friday at $57.96 after adding $1.13 on the day. The 5-day average trading volume is 2,322,340 shares of the company’s common stock. It has gained $59.49 in the past week. An average of 2,214,485 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,812,646.

CPE’s 1-month performance is 72.60% or $25.32 on its low of $31.75 reached on 09/09/21. The company’s shares have touched a 52-week low of $4.50 and high of $60.51, with the stock’s rally to the 52-week high happening on 06/25/21. YTD, CPE has achieved 340.43% or $44.80. However, the current price is down -4.21%% from the 52-week high price.

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Insider Transactions

On Sep 20, 21 days have gone by since the last insider trading activity for Callon Petroleum Company (CPE). JOHNSON S P IV (Director) most recently sold 1,200 shares at $35.14 per share on Sep 20. This transaction cost the insider $42,168. Director, JOHNSON S P IV, sold 1,200 shares at a price of $28.88 on Aug 18. Then, on Jul 19, Director JOHNSON S P IV sold 1,200 shares at a price of $37.95 per share. This transaction amounted to $45,540.

Valuation Metrics

Callon Petroleum Company (CPE) has a trailing price-to-earnings (P/E) ratio of 18.90 for the broader industry and 19.33 for the sector. The company’s PE ratio for the last five years has touched a high of 28.16 and a low of 0.4542. CPE stock has a beta of 3.15. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.26 while the price-to-book (PB) in the most recent quarter is 3.54, with the price to cash flow ratio at 36.48.

Callon Petroleum Company’s quick ratio for the period ended June 29 was 0.30, with the current ratio over the same period at 0.30 meaning that CPE stock is not able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 3.78, while the total debt to equity was 3.78. In terms of profitability, the gross margin trailing 12 months is 71.70%. The trailing 12-month EBITDA margin is 58.03% while for the period ending June 29; Callon Petroleum Company’s operating margin was -44.30%. The firm’s gross profit as reported stood at -$2.46 billion against revenue of $1.03 billion.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected CPE to announce $1.48 per share in earnings in its latest quarter, but it posted $1.49, representing a 0.70% surprise. EBITDA for the quarter stood at more than $291.45 million. CPE stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 3.79 billion, with total debt at $2.87 billion. Shareholders hold equity totaling $46.29 million

Technical Picture

Let’s look briefly at Callon Petroleum Company (CPE) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 October was 84.70% to suggest the stock is trending Overbought, with historical volatility in this time period at 38.54%.

The stock’s 5-day moving average is $56.01, reflecting a +14.93% or $7.53 change from its current price. CPE is currently trading +75.32% above its 20-day SMA, +52.41% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +44.29% and +336.12% respectively.

Stochastic %K and %D was 91.44% and 91.31% and the average true range (ATR) pointed at 3.33. The RSI (14) points at 80.11%, while the 14-day stochastic is at 93.93% with the period’s ATR at 3.13. The stock’s 9-day MACD Oscillator is pointing at 3.71 and 7.97 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Callon Petroleum Company (NYSE: CPE), MKM Partners upgraded it to a Buy rating. They previously had a Neutral rating on the stock. Analysts offering their rating for CPE stock have a consensus rating for the stock as Hold. Currently, 1 brokerage advisors rate CPE as a “sell,”, while 10 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 2 have offered a “buy” rating.

What is CPE’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $40.00 and a high of $75.00, with their median price target at $53.25. Looking at these predictions, the average price target given by analysts is for Callon Petroleum Company (CPE) stock is $51.87.


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