Callon Petroleum Company (NYSE:CPE) has been upgraded by CapitalOne, which now rates the stock as Overweight versus Equal Weight prior rating , according to a note issued on January 09. Analysts at CapitalOne, shed their positive views on December 20 by lowering it fromOverweight to Equal Weight. The stock lost favor of Tudor Pickering analysts who expressed their lack of confidence in it using a downgrade from Buy to Hold on December 14.
Callon Petroleum Company (CPE) shares finished at $8.49. It dropped -1.05% in recent trade and currently has a stock-market value of $1.95B. Trading activity significantly improved as the volume at ready counter increased to 9,731,608 shares versus 6,764,655 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 7,955,613 shares. The stock is now 52.42% above against its bear-market low of $5.57 on December 26, 2018. It has retreated -72.56% since it’s 52-week high of $14.65 reached in May. Now the market price is down -32.67% on the year and up 30.82% YTD.
CPE’s 50 day simple moving average (SMA 50) price is $8.45 and its 200-day simple moving average (SMA 200) price is $10.97. The company’s stock currently has a total float of 226.24M shares. Its weekly volatility is hovering around 5.68% and felt 6.71% volatility in price over a month. On the upside, the share price will test short term resistance at around $8.67. On a downside, the stock is likely to find some support, which begins at $8.26. The failure to get near-term support could push it to $8.03.
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 $5,306, 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 $563,812.
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 $491,444 as of recent close.
When looking at valuations, Callon Petroleum Company (CPE) has a cheap P/E of 11.2x as compared to industry average of 16.71x. Moreover, it trades for 7.96 times the next 12 months of expected earnings. Also, it is trading at rather inexpensive levels at just over 0.84x price/book and 3.59x 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 6.89%. CPE’s ROE is 7.7%, which is also considerably better than the industry’s ROE of 6.89%. 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 -18.3% since the company’s Mar-19 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 $145.9 million to $205.5 million, which should be compared with $165.41 million generated last year. EPS is seen in a range of $0.15 to $0.34, against the $0.26 reported a year ago.