Insider Trading Report: Callon Petroleum Company (CPE)

Steven Webster, a director at Callon Petroleum Company (CPE), recently picked up 10,000 shares. The buy increased his holdings by 1 percent, and came to a total cost just over $302,000.

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  • This follows up on a 50,000 share buy made by the director the week before, which increased his holdings by 7 percent, and which came to a total cost of $1.55 million. Another director made a buy for 250 shares in February, at a cost just under $9,800.

    Overall, company insiders own 1.8 percent of shares.

    The oil and gas exploration company has seen shares lose more than one-third of their value in the past year as oil prices have come off their highs.

    However, with a massive profit margin of 48 percent and with shares trading for less than 3 times earnings, the market may have thrown out a company bucking the trend in energy right now.

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  • Action to take: Investors may like shares at or under current prices, near the stock’s 52 week low. While the company doesn’t pay a dividend, it should move higher on a rally in energy prices than the better-known names in the oil and natural gas space.

    For traders, shares continue to trend down, but look oversold here, and could rebound in the coming months. The January 2024 $45 calls, last going for about $2.50, offer mid-double-digit returns or higher on such a rebound. Traders should look to take quick profits.


    Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.

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