Callon Petroleum Company (CPE) Soars 8.03%

Callon Petroleum Company (CPE) Soars 8.03%

Callon Petroleum Company (CPE) had a good day on the market for Friday April 12 as shares jumped 8.03% to close at $8.21. About 9.66 million shares traded hands on 39,268 trades for the day, compared with an average daily volume of n/a shares out of a total float of 227.88 million. After opening the trading day at $7.93, shares of Callon Petroleum Company stayed within a range of $8.47 to $7.93.

With today’s gains, Callon Petroleum Company now has a market cap of $1.87 billion. Shares of Callon Petroleum Company have been trading within a range of $14.65 and $5.57 over the last year, and it had a 50-day SMA of $n/a and a 200-day SMA of $n/a.

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.

Callon Petroleum Company is based out of Houston, TX and has some 218 employees. Its CEO is Joseph C. Gatto.

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