Callon Petroleum (CPE) Update - March 10

[dan_s]

I have finished my review of the updated profile for Callon Petroleum. It will be posted to the EPG website later today.

My valuation increases by $11 to $106 per share. < CPE is trading at $60.24 at the time of this post.

2021 results: Production of 95,501 Boepd, GAAP Net Income of $5.95 per share and Operating Cash Flow of $924.0 million ($15.06/share)

2022 forecast: Production of 105,000 Boepd (64% crude oil, 19% NGLs and 17% natural gas), Net Income of $14.26 per share and Operating Cash Flow of $1,567.5 million ($25.25/share). Free Cash Flow from Operations of $842.5 million ($13.59/share).

CPE was the top preforming stock in the Sweet 16 in 2021; gaining 259%. I expect it to be in the top half of the Sweet 16 again this year.