Callon Petroleum Company (CPE)’s Stock Formed A Several Months Wedge Down

June 20, 2017 - By Winifred Garcia

Investors sentiment increased to 2.19 in 2016 Q4. Its up 0.64, from 1.55 in 2016Q3. It improved, as 22 investors sold Callon Petroleum Company shares while 59 reduced holdings. 66 funds opened positions while 111 raised stakes. 206.80 million shares or 26.07% more from 164.04 million shares in 2016Q3 were reported.
Blackrock Inv Management Ltd Co holds 537,005 shares or 0.01% of its portfolio. Commonwealth Equity Services stated it has 0.01% in Callon Petroleum Company (NYSE:CPE). Cushing Asset Management L P has 210,072 shares for 0.1% of their portfolio. State Board Of Administration Of Florida Retirement reported 43,212 shares. Hbk Limited Partnership reported 1.18M shares. California Public Employees Retirement Sys holds 0.02% in Callon Petroleum Company (NYSE:CPE) or 663,500 shares. Dimensional Fund Advsr Ltd Partnership invested in 0.02% or 2.86M shares. Van Eck Assocs holds 3.58M shares or 0.27% of its portfolio. Aqr Cap Mgmt Ltd Liability Com holds 284,476 shares. 1St Inc invested in 0.06% or 30,516 shares. Moreover, Parkwood Ltd Co has 0.17% invested in Callon Petroleum Company (NYSE:CPE). Caymus Prtn Limited Partnership has 2.18% invested in Callon Petroleum Company (NYSE:CPE) for 1.29M shares. Pennsylvania-based Pitcairn has invested 0.03% in Callon Petroleum Company (NYSE:CPE). Ameritas Inv Prtnrs Incorporated stated it has 12,172 shares. State Bank Of America Corporation De holds 0% or 474,889 shares in its portfolio.

Since February 14, 2017, it had 0 insider buys, and 1 insider sale for $57,800 activity. On Tuesday, February 14 the insider WEANT JERRY A sold $57,800.

The stock of Callon Petroleum Company (CPE) formed a down wedge with $9.32 target or 8.00 % below today’s $10.13 share price. The 5 months wedge indicates high risk for the $2.03 billion company. If the $9.32 price target is reached, the company will be worth $162.40M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 1.00% or $0.1 during the last trading session, reaching $10.13. About shares traded. Callon Petroleum Company (NYSE:CPE) has risen 12.29% since June 20, 2016 and is uptrending. It has underperformed by 4.41% the S&P500.

Investors wait Callon Petroleum Company (NYSE:CPE) to report on August, 14. its quarterly earnings Wall Street analysts expect $0.13 EPS, up $0.08 or 160.00 % from last year’s $0.05 same quarter earnings. This translates into $26.05 million profit for CPE giving the stock a 19.48 P/E. This is assuming the current $0.13 EPS is accurate. Callon Petroleum Company’s Wall Street analysts see 30.00 % EPS growth, taking into account the $0.10 EPS reproted in the previous quarter,

Callon Petroleum Company (NYSE:CPE) Ratings Coverage

Among 25 analysts covering Callon Petroleum (NYSE:CPE), 22 have Buy rating, 0 Sell and 3 Hold. Therefore 88% are positive. Callon Petroleum had 50 analyst reports since July 21, 2015 according to SRatingsIntel. The rating was initiated by JP Morgan with “Overweight” on Tuesday, October 13. The company was upgraded on Monday, May 16 by Howard Weil. The rating was initiated by Citigroup on Wednesday, June 29 with “Neutral”. FBR Capital maintained the shares of CPE in report on Wednesday, March 1 with “Outperform” rating. On Wednesday, September 28 the stock rating was initiated by Evercore with “Buy”. The rating was maintained by Northland Capital on Friday, November 6 with “Outperform”. The rating was maintained by RBC Capital Markets with “Buy” on Friday, June 2. As per Thursday, September 8, the company rating was upgraded by RBC Capital Markets. The stock of Callon Petroleum Company (NYSE:CPE) has “Outperform” rating given on Thursday, September 22 by BMO Capital Markets. As per Monday, July 18, the company rating was maintained by Citigroup.

More notable recent Callon Petroleum Company (NYSE:CPE) news were published by: Forbes.com which released: “Callon Petroleum Could Be A Takeover Target Again After Namesake CEO’s …” on May 26, 2017, also Reuters.com with their article: “BRIEF-Callon Petroleum Company announces death of chairman and CEO” published on May 25, 2017, Prnewswire.com published: “Callon Petroleum Company Announces Upcoming Investor Events” on June 02, 2017. More interesting news about Callon Petroleum Company (NYSE:CPE) were released by: Prnewswire.com and their article: “Callon Petroleum Company Announces New Credit Agreement with Increased …” published on May 31, 2017 as well as Prnewswire.com‘s news article titled: “Callon Petroleum Company Announces Upcoming Investor Event” with publication date: June 20, 2017.

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