Long Position on CPE @ $62.75 on 11/15/2021 (Fundamentals)

Callon Petroleum Company (CPE), an independent oil and natural gas company, focuses on the acquisition, exploration, and development of oil and natural gas properties in Permian Basin in West Texas.

As of December 31, 2020, its estimated net proved reserves totaled approximately 475.9 million barrel of oil equivalent, including 289.5 MMBbls oil, 541.6 Bcf of natural gas, and 96.1 MMBbls of natural gas liquids.

The company was founded in 1950 and is headquartered in Houston, Texas.

Callon Petroleum reported 3rd Quarter September 2021 earnings of $2.93 per share on revenue of $552.6 million. The consensus earnings estimate was $2.49 per share on revenue of $418.5 million. Revenue grew 90.5% on a year-over-year basis.

This stock price has increased 864.5% in the past year and compared with the industry's growth of 154.8%. This being said, the stock's earnings are to rise by overe 50% over the past year.

Entry Point: $62.75

Trading Range: $6.93 - $65.45

Stop Loss: $59.60

Target Price: $69.00

Position closed on 2/1/2022 at price of $59.50 with a -5.18% loss in 78 days.

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