Callon Petroleum Company (CPE) Plunges 8.83% on December 14

Callon Petroleum Company (CPE) Plunges 8.83% on December 14

Callon Petroleum Company (CPE) had a rough trading day for Friday December 14 as shares tumbled 8.83%, or a loss of $-0.68 per share, to close at $7.02. After opening the day at $7.54, shares of Callon Petroleum Company traded as high as $7.58 and as low as $7.00. Volume was 5.9 million shares over 29,265 trades, against an average daily volume of 4.52 million shares and a total float of 227.58 million.

As a result of the decline, Callon Petroleum Company now has a market cap of $1.6 billion.

The stock has a P/E Ratio of 10.1.

Callon Petroleum Company engages in exploration, development, acquisition, and production of oil and natural gas. Activities are primarily conducted in the Permian Basin region of the west Texas and southeastern New Mexico. Callon relies heavily on the latest horizontal production techniques to extract hydrocarbon products from its assets, with crude oil accounting for over half of production. Historically, a handful of marketing and trading companies have accounted for the majority of the sales for Callon’s oil and gas production. Assets are acquired through drilling of emerging zones on existing acreage but also by acquiring additional locations through leasehold purchases, leasing programs, joint ventures, and asset swaps.

Callon Petroleum Company is based out of Natchez, MS and has some 169 employees. Its CEO is Joseph C. Gatto.

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