Zacks
0
All posts from Zacks
Zacks in Our Research. Your Success.,

Why Callon Petroleum Company (CPE) Could Be Positioned for a Surge

Callon Petroleum Company CPE is an independent oil and natural gas company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CPE’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Callon Petroleum Company could be a solid choice for investors.

Current Quarter Estimates for CPE

In the past 30 days, 3 estimates have gone higher for Callon Petroleum Company while 1 has gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from a loss of 1 penny a share 30 days ago, to an earnings of 1 penny today, a significant move.

Current Year Estimates for CPE                   

Meanwhile, Callon Petroleum Company’s current year figures are also looking quite promising, with 7 estimates moving higher in the past month, compared to 2 lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 2 cents per share 30 days ago to 8 cents per share today, an increase of 300%.

Bottom Line

The stock has also started to move higher lately, adding 12.7% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
CALLON PETE-DEL (CPE): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research