cpe

[mkarpoff]

Any idea why cpe is taking a bath today?

[dan_s]

No reason for it to sell off.

CPE has a relatively low number of shares, only 61.5 million shares. It made a nice two week run, so one large sell order just pulled it back a bit.

CPE is trading for less than 2X operating CFPS. Very cheap stock.

[mkarpoff]

Yep, according to SA Credit Suisse sold, on behalf of a client, 6.5mm shares pre-mkt this morning.

[dan_s]

Buy the dip. Sometimes the market gives us a gift.

I expect Callon to report strong Q2 results. Over $7.25 operating cash flow per share and on pace for over $1 Billion of FCF this year.