CPE Stock Summary and Trading Ideas (Callon Petroleum Company | NYSE:CPE)

Callon Petroleum Company engages in the exploration, development, acquisition, and production of crude oil, natural gas, and NGLs. Activities are conducted in the Permian Basin region of West Texas and southeastern New Mexico. Callon relies heavily on the latest horizontal production techniques to extract hydrocarbon products from its assets, with crude oil accounting for over half of production. Historically, a handful of marketing and trading companies have accounted for the majority of the sales for Callon's oil and gas production. Assets are acquired through the drilling of emerging zones on existing acreage but also by acquiring additional locations through leasehold purchases, leasing programs, joint ventures, and asset swaps.

Callon Petroleum Company trades on the NYSE stock market under the symbol CPE.

As of April 18, 2024, CPE stock price was flat at $35.76 with million shares trading.

CPE has a beta of 0.38, meaning it tends to be less sensitive to market movements. CPE has a correlation of 0.01 to the broad based SPY ETF.

CPE has a market cap of $2.38 billion. This is considered a Mid Cap stock.

Last quarter Callon Petroleum Company reported $486 million in Revenue and $1.62 earnings per share. This fell short of revenue expectation by $-61 million and exceeded earnings estimates by $.01.

In the last 3 years, CPE stock traded as high as $66.48 and as low as $25.32.

The top ETF exchange traded funds that CPE belongs to (by Net Assets): VTI, VB, VBR, VDE, VT.

CPE stock has underperformed the market in the last year with a return of -1.5%, while SPY returned +22.2%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in CPE shares. However, CPE has outperformed the market in the last 3 month and 2 week periods, returning +14.3% and 0.0%, while SPY returned +5.2% and -2.6%, respectively. This indicates CPE has been having a stronger performance recently.

CPE support price is $35.19 and resistance is $36.33 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CPE stock will trade within this expected range on the day.