Callon Petroleum (CPE) had a good week - Nov 26

[dan_s]

Callon Petroleum (CPE) has doubled since April 10, with most of it happening since Monday. If WTI goes to $50/bbl it should double again.

It is getting some much deserved "love" thanks to a short-covering rally. Over 9.5 million shares traded on Tuesday & Wednesday, which is HUGE for a company with less than 40 million total shares.

Stifel's 11/13/2020 price target of $16.50 compares to my updated valuation of $18.00.

CPE is on-track to generate over $14.00 of operating cash flow per share in 2020 and more in 2021.
It is still trading at a deep discount to book value per share of over $30/share.

If want to learn more, read our updated profile on Callon Petroleum, which you can find under the Sweet 16 Tab on our website.

My updated valuations for all of the Sweet 16 can be found under the Sweet 16 Tab on our website.