Callon Petroleum Company (CPE) Moves Higher on Volume Spike for September 09

Equities Staff  |

Callon Petroleum Company (CPE) traded on unusually high volume on Sep. 09, as the stock gained 15.44% to close at $4.71. On the day, Callon Petroleum Company saw 38.32 million shares trade hands on 126,777 trades. Considering that the stock averages only a daily volume of 14.76 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.

Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

The stock has traded between $13.09 and $3.75 over the last 52-weeks, its 50-day SMA is now $5.03, and its 200-day SMA $6.96. Callon Petroleum Company has a P/B ratio of 0.43. It also has a P/E ratio of 4.2.

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.

Headquartered in Houston, TX, Callon Petroleum Company has 218 employees and is currently under the leadership of CEO Joseph C. Gatto.

For a complete fundamental analysis analysis of Callon Petroleum Company, check out Equities.com’s Stock Valuation Analysis report for CPE.

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To get more information on Callon Petroleum Company and to follow the company’s latest updates, you can visit the company’s profile page here: CPE’s Profile. For more news on the financial markets and emerging growth companies, be sure to visit Equities.com’s Newsdesk. Also, don’t forget to sign-up for our daily email newsletter to ensure you don’t miss out on any of our best stories.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.



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