Callon Petroleum Company (CPE): Price Target and June Short Interest Disclosure

Callon Petroleum Company (CPE) : Average target price received by Callon Petroleum Company (CPE) is $14.55 with an expected standard deviation of $1.93. The most aggressive target on the stock is $18, whereas the most downbeat target is $11. 15 financial analysts are currently covering the stock.

Callon Petroleum Company (CPE) encountered a rise of 9.9% or 1,523,638 shares in the short positions. The number escalated from 15,320,162 on June 15,2016 to 16,843,800 on June 30,2016. The final interest is 13% of the floated stock. The days to cover figure of 4 can be arrived using the average daily exchange of 3,781,105 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Citigroup initiates coverage on Callon Petroleum Company (NYSE:CPE). In the latest research report, Citigroup announces the target price to $12 per share. According to the latest information available, the shares are now rated Neutral by the analysts at the agency. The rating by the firm was issued on June 29, 2016.


Callon Petroleum Company (NYSE:CPE): On Thursdays trading session , Opening price of the stock was $12.12 with an intraday high of $12.21. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $11.72. However, the stock managed to close at $11.81, a loss of 0.76% for the day. On the previous day, the stock had closed at $11.9. The total traded volume of the day was 2,592,603 shares.

Callon Petroleum Company is an independent oil and natural gas company. The Company is engaged in the exploration, development, acquisition and production of oil and natural gas properties. The Company is focused on unconventional, onshore, oil and natural gas reserves in the Permian Basin in West Texas and the Midland Basin. Its asset base is concentrated in the Midland Basin located within the broader Permian Basin. Its operations are focused on horizontal drilling of several prospective intervals, including multiple levels of the Wolfcamp formation. The Company operates two horizontal drilling rigs focused on four prospective zones for development. The Company drilled approximately 27 gross (24.4 net) horizontal and 7 gross (4.3 net) vertical wells, while completing around 31 gross (27.3 net) horizontal and 5 gross (3.1 net) vertical wells. The Company also owns 6,230 gross (3,862 net) acres located in Midland, Andrews and Martin Counties.

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