Callon Petroleum (CPE) Preview - Feb 21

[dan_s]

Callon will be announcing Q4 results and 2023 guidance on Feb 22 after the markets close.

Note this morning from Neal Dingmann at Truist Financial:

Callon Petroleum Company (CPE, $38.69, Buy) - Expecting
Solid 4Q Print with Continued 2023 Momentum - We forecast
Callon to put up a solid quarterly print when it releases 4Q22
results this week as the company remained one of the more
active operators well into year-end. We anticipate production
was relatively flat on a sequential basis last quarter, but could
decline sequentially early this year due to D&C timing, though we
estimate average annual production in 2023 will be higher YoY.
That said, our price target has been lowered to $52 from $59. -
Neal Dingmann

Callon has a relatively low number of shares of common stock outstanding, so their 2023 guidance will have a big impact on my stock valuation, but it definitely will be more than $52.