Callon Petroleum Company (CPE) Shares are Up 3.53%

Callon Petroleum Company (CPE) : Traders are bullish on Callon Petroleum Company (CPE) as it has outperformed the S&P 500 by a wide margin of 24.73% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.01%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.53% in the last 1 week, and is up 24.56% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 7.82% and the 50-Day Moving Average is 20.73%.The 200 Day SMA reached 54.68%. Callon Petroleum Company is up 29.75% in the last 3-month period. Year-to-Date the stock performance stands at 79.38%.


Callon Petroleum Company (NYSE:CPE): After opening at $14.84, the stock dipped to an intraday low of $14.83 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $15.19 and the buying power remained strong till the end. The stock closed at $14.96 for the day, a gain of 2.05% for the day session. The total traded volume was 2,388,042. The stocks close on the previous trading day was $14.66.

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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