Do Traders Think Callon Petroleum Company (CPE) Can Turn Around Wednesday?

Wednesday, November 22, 2023 09:45 AM | InvestorsObserver Analysts

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Do Traders Think Callon Petroleum Company (CPE) Can Turn Around Wednesday?

Overall market sentiment has been neutral on Callon Petroleum Company (CPE) stock lately. CPE receives a Neutral rating from InvestorsObserver Stock Sentiment Indicator.

Callon Petroleum Company has a Neutral sentiment reading. Find out what this means for you and get the rest of the rankings on CPE!

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What is Stock Sentiment?

Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score. As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend. Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive. InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend. Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .

What's Happening With CPE Stock Today?

Callon Petroleum Company (CPE) stock has fallen -3.8% while the S&P 500 is up 0.64% as of 9:44 AM on Wednesday, Nov 22. CPE has fallen -$1.23 from the previous closing price of $32.38 on volume of 9,233 shares. Over the past year the S&P 500 has gained 15.63% while CPE has fallen -23.84%. CPE earned $7.98 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 3.91.

More About Callon Petroleum Company

Callon Petroleum Company engages in the exploration, development, acquisition, and production of oil and natural gas. Activities are primarily 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. Click Here to get the full Stock Report for Callon Petroleum Company stock.