Overall market sentiment has been down on Callon Petroleum Company (CPE) stock lately. CPE receives a Bearish rating from InvestorsObserver's Stock Sentiment Indicator.
What is Stock Sentiment?
Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends.
Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.
InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.
The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.
What's Happening With CPE Stock Today?
Callon Petroleum Company (CPE) stock is down -7.81% while the S&P 500 is up 0.22% as of 3:13 PM on Thursday, Jan 21. CPE is down -$1.16 from the previous closing price of $14.85 on volume of 3,709,185 shares. Over the past year the S&P 500 has gained 16.24% while CPE is down -63.00%. CPE lost -$52.00 per share in the over the last 12 months.
To see the top 5 stocks in the Oil & Gas E&P industry click here.
More About Callon Petroleum Company
Callon Petroleum Company engages in exploration, development, acquisition, and production of oil and natural gas. Activities are primarily conducted in the Permian Basin region of the 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 drilling of emerging zones on existing acreage but also by acquiring additional locations through leasehold purchases, leasing programs, joint ventures, and asset swaps.
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