CPE - Shares of Callon Petroleum Company (CPE) Rise Above Previous 52-Week High

Shares of Callon Petroleum Company (NYSE:CPE) traded today at $65.02, eclipsing its 52-week high. So far today approximately 1.6 million shares have been exchanged, as compared to an average 30-day volume of 1.9 million shares.

Callon Petroleum Company engages in the exploration, development, acquisition, and production of oil and natural gas. Activities are primarily conducted in the Permian Basin region of 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 the 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 has overhead space with shares priced $64.91, or 46.4% below the average consensus analyst price target of $121.16.

In the past 52 weeks, shares of Callon Petroleum Company have traded between a low of $5.35 and a high of $65.02 and is now at $64.91, which is 1,113% above that low price.

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