On April 24, 2023 at 15:37:22 ET an unusually large $230.72K block of Call contracts in Callon Petroleum (CPE) was bought, with a strike price of $36.00 / share, expiring in 25 day(s) (on May 19, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.57 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in CPE options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 557 funds or institutions reporting positions in Callon Petroleum. This is an increase of 37 owner(s) or 7.12% in the last quarter. Average portfolio weight of all funds dedicated to CPE is 0.16%, an increase of 14.57%. Total shares owned by institutions decreased in the last three months by 1.86% to 54,272K shares. The put/call ratio of CPE is 0.46, indicating a bullish outlook.

Analyst Price Forecast Suggests 58.62% Upside

As of April 24, 2023, the average one-year price target for Callon Petroleum is $53.55. The forecasts range from a low of $40.40 to a high of $73.50. The average price target represents an increase of 58.62% from its latest reported closing price of $33.76.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Callon Petroleum is $2,804MM, a decrease of 13.21%. The projected annual non-GAAP EPS is $15.50.

What are Other Shareholders Doing?

JNL SERIES TRUST – JNL holds 77K shares representing 0.13% ownership of the company. In it’s prior filing, the firm reported owning 74K shares, representing an increase of 4.18%. The firm decreased its portfolio allocation in CPE by 11.48% over the last quarter.

Morgan Stanley holds 320K shares representing 0.52% ownership of the company. In it’s prior filing, the firm reported owning 300K shares, representing an increase of 6.44%. The firm decreased its portfolio allocation in CPE by 5.64% over the last quarter.

SCHA – Schwab U.S. Small-Cap ETF holds 217K shares representing 0.35% ownership of the company. In it’s prior filing, the firm reported owning 215K shares, representing an increase of 0.94%. The firm decreased its portfolio allocation in CPE by 8.56% over the last quarter.

GUSH – Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 3X Shares Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 3X Shares holds 236K shares representing 0.38% ownership of the company. In it’s prior filing, the firm reported owning 186K shares, representing an increase of 20.89%. The firm increased its portfolio allocation in CPE by 43.00% over the last quarter.

EQ ADVISORS TRUST – EQ holds 10K shares representing 0.02% ownership of the company. No change in the last quarter.

Callon Petroleum Background Information
(This description is provided by the company.)

Callon Petroleum is an independent oil and natural gas company focused on the acquisition, exploration and development of high-quality assets in the leading oil plays of South and West Texas.

See all Callon Petroleum regulatory filings.

This article originally appeared on Fintel

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