Callon Petroleum Company (NYSE:CPE) has been downgraded by Tudor Pickering on December 14 which now rates the stock as Hold compared with Buy rating suggested in the past. Analysts at Seaport Global Securities, shed their negative views on December 10 by lifting it fromNeutral to Buy. Analysts at Stephens, made their first call about the stock on December 06, recommending it is Overweight. Cowen, released new analyst coverage on November 30, calling the stock is Outperform.
Callon Petroleum Company (CPE) hit an intraday high Tuesday at $7.01. The shares finished at $6.84, after trading as low as $6.775 earlier in the session. It dropped -2.01% in recent trade and currently has a stock-market value of $1.71B. Trading activity significantly improved as the volume at ready counter increased to 4,643,364 shares versus 4,604,290 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 4,934,915 shares. The stock is now 1.33% above against its bear-market low of $6.75 on December 17, 2018. It has retreated -114.18% since it’s 52-week high of $14.65 reached in May. Now the market price is down -34.8% on the year and down -43.7% YTD.
CPE’s 50 day simple moving average (SMA 50) price is $9.89 and its 200-day simple moving average (SMA 200) price is $11.35. The company’s stock currently has a total float of 226.32M shares. Its weekly volatility is hovering around 5.97% and felt 5.65% volatility in price over a month. On the upside, the share price will test short term resistance at around $6.98. On a downside, the stock is likely to find some support, which begins at $6.74. The failure to get near-term support could push it to $6.64.
Separately, it has been reported that multiple insider activity took place at Callon Petroleum Company (CPE). Director Faulkenberry Barbara J acquired 625 shares for $625 in transaction occurred on 2018/12/11. After making this transaction, the Director owns a direct stake of 4,981 shares, worth $4,275, as per the last closing price. On 2018/09/18 Conn Mitzi P, Vice President and CAO at CPE, dumped 15,000 shares at an average price of $11.76 per share. The selling total is valued at $454,238.
Vice President of Land, Weant Jerry A had divested 4,000 shares for $57,885 through a trade on 2017/02/14. Following this activity, the insider holds 57,800 shares worth $395,933 as of recent close. Wall Street’s most bullish Callon Petroleum Company (NYSE:CPE) analysts are predicting the share price to blow past $22 per share during the next 12 months. The current median share price forecast by them is $15, suggesting that the stock could increase 119.3% in that time frame. The average price target of $15.23 calls for a nearly 122.66% increase in the stock price.
When looking at valuations, Callon Petroleum Company (CPE) has a cheap P/E of 9.02x as compared to industry average of 14.33x. Moreover, it trades for 5.75 times the next 12 months of expected earnings. Also, it is trading at rather inexpensive levels at just over 0.68x price/book and 3.14x price/sales. Compared to others, Callon Petroleum Company is in a different league with regards to profitability, having net margins of 29.4%. To put some perspective around this, the industry’s average net margin is 17.85%. CPE’s ROE is 7.7%, which is also considerably worse than the industry’s ROE of 18.52%. It’s also not liquid in the near term, with a current ratio of 0.6. The stock has a debt/capital of 0.46.
Shares of Callon Petroleum Company (CPE) have dropped -32.8% since the company’s last earnings report. Over the past 12 fiscal quarters, Callon Petroleum Company (NYSE:CPE) has topped consensus earnings estimates in 5 quarters (41%), missed earnings in 3 quarters (25%), whereas at 4 occasion EPS met analyst expectations. CPE last reported earnings on November 06, 2018 when it released Sep-18 results that exceeded expectations. The company raked in $0.21 per share, -95.89% change on the same period last year. That was better than consensus for $0.2. Revenue for the recent quarter stood at $161.21 million, up 91% on last year and above the $146.48 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $165.4 million to $203.04 million, which should be compared with $148.74 million generated last year. EPS is seen in a range of $0.15 to $0.39, against the $0.21 reported a year ago.