What just happened? Callon Petroleum Company (NYSE:CPE) stock value has climbed by nearly 3.49% or (0.14 points) to $4.15 from its previous close of $4.01. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 4466338 contracts so far this session. CPE shares had a relatively better volume day versus average trading capacity of 18.34 million shares, but with a 0.23 billion float and a 1.01% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CPE stock indicates that the average analyst price target is $8.68 per share. This means the stock has a potential increase of 109.16% from where the CPE share price has been trading recently which is between $3.75 and $4.06. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $4. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $12.
During the recent trading session for Callon Petroleum Company (NYSE:CPE), the company witnessed their stock rise $0.21 over a week and tumble down $-0.37 from the price 20 days ago. When compared to their established 52-week high of $12.75, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 10/16/18. The recent low of $3.75 stood for a -67.45% since 10/10/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.5 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for CPE is set at $8, a figure which is below the recent 1-year high the stock witnessed.
Looking at the current readings for Callon Petroleum Company, the two-week RSI stands at 47.71. This figure suggests that CPE stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current CPE readings is similarly very revealing as it has a stochastic reading of 29.12% at this stage. This figure means that CPE share price today is being overbought.
Technical chart claims that Callon Petroleum Company (CPE) would settle between $4.13/share to $4.25/share level. However, if the stock price goes below the $3.82 mark, then the market for Callon Petroleum Company becomes much weaker. If that happens, the stock price might even plunge as low as $3.63 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.06. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Williams Capital Group lifted target price for shares of CPE but were stick to Buy recommendation for the stock in their opinion released on July 16. The price target has been raised from $12 to $10. Imperial Capital analysts again handed out a In-line recommendation to Callon Petroleum Company (NYSE:CPE) stock but they lifted target price for the shares in a flash note issued to investors on July 16. The target price has been raised from $16 to $11. Analysts at Jefferies lowered the stock to a Hold call from its previous Buy recommendation, in a research note that dated back to July 15.
CPE equity has an average rating of 2.21, with the figure leaning towards a bullish end. 20 analysts who tracked the company were contacted by Reuters. Amongst them, 3 rated the stock as a hold while the remaining 17 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 17 analysts rated Callon Petroleum Company (NYSE:CPE) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, CPE stock price is currently trading at 3.61X forward 12-month Consensus EPS estimates, and its P/E ratio is 4.1 while for the average stock in the same group, the multiple is 10.8. Callon Petroleum Company current P/B ratio of 0.4 means it is trading at a discount against its industry’s 1.2.
Callon Petroleum Company (CPE)’s current-quarter revenues are projected to climb by nearly -4.2% to hit $154500, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 8.3% from $587620 to a noteworthy $636140. At the other end of the current quarter income statement, Callon Petroleum Company is expected to see its adjusted earnings surge by roughly -14.3% to hit $0.18 per share. For the fiscal year, CPE’s earnings are projected to climb by roughly -10.1% to hit $0.71 per share.