Callon Petroleum is not an exception to this as the company intends to drill between 38 and 42 wells during the third quarter, which will increase the company's production to an average of 102,000 to 105,000 barrels of oil equivalents per day. On July 14, 1952, two of his wells struck oil. But in contrast you can make much more than 100% if the company does well. One metric that we can use to value an energy company like Callon Petroleum is the forward price-to-earnings ratio. May. "I look forward to welcoming Kevin to the Callon team," said Joe Gatto, Chief Executive Officer and President of Callon. There are currently no items in this Watchlist. To report a factual error in this article. The advantages are that these hedges aid the company in keeping its financials relatively stable no matter what crude oil prices do as well as aiding its financial planning. Maybe Not, Two Analysts Say. The company was founded by Sim C. Callon and John S. Callon in 1950 and is headquartered in . California State Teachers Retirement System, New York State Teachers Retirement System, Connor, Clark & Lunn Investment Management, Louisiana State Employees Retirement System, Maryland State Retirement & Pension System, Teachers Retirement System Of The State Of Kentucky, State of New Jersey Common Pension Fund D, Track 13F-HR Filings for Hedge Funds and Value Investors. This registration will allow you to access your royalty remittance electronically in pdf format available for printing versus a mailed hardcopy. The notes and the related guarantees are being offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and outside the United States pursuant to Regulation S under the Securities Act. ET by Tomi Kilgore. Thus, a decline in cash flow could threaten a company's financial solvency if it has too much debt. Please. Perhaps the most significant of these risks is the company's debt load. Warren Buffett's Berkshire Hathaway snaps up another $123 million in Occidental Petroleum stock, now owns 25% of the oil company. It was quite a shock: Can I sue my sister for my fathers ashes? Have Watchlists? According to the International Energy Agency, the global demand for crude oil will increase by 7% over the next twenty years: Pembina Pipeline/Data from IEA 2021 World Energy Outlook. The oil and gas company expects to use the bulk of those proceeds to redeem all . We can see that Private Companies own 5.8%, of the shares on issue. I wrote this article myself, and it expresses my own opinions. To that end, you should learn about the 3 warning signs we've spotted with Callon Petroleum (including 1 which is a bit unpleasant) . We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. Join A Paid User Research SessionYoull receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself. Thankyou for good hedge calendar!! 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. This would still not be nearly as good as some of the firm's best-financed peers but it is reasonable. It has a market capitalization of US$2.8b, which means it would generally expect to see some institutions on the share registry. Weve never seen this before: Millionaires are doing something unusual to preserve their wealth and you can do the same. Copyright 2023 MarketWatch, Inc. All rights reserved. Entering text into the input field will update the search result below. This news release is posted on the Company's website at www.callon.com and will be archived there for subsequent review under the "News" link on the top of the homepage. 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 West and South Texas. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. This is a big company, so it is good to see this level of alignment. This is better than many of the majors and positions the company quite well going forward. Allspring Global Investments Holdings LLC grew its stake in Callon Petroleum (NYSE:CPE - Free Report) by 0.3% in the first quarter, Holdings Channel.com reports. Following his retirement later this month, Mr. Ulm will remain with the Company in a consulting position for an interim period to ensure a smooth transition. Kimmeridge Energy Management Company, LLC is currently the largest shareholder, with 19% of shares outstanding. We will want to keep an eye on management's success at achieving this given that crude oil prices are not nearly as strong as they were four months ago. Mr. Haggard succeeds James "Jim" Ulm, II, who previously announced his intentions to retire. 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 West and South Texas. Powell's mixed signals and Pacwest weigh on US indices. . What 7 Analyst Ratings Have To Say About Callon Petroleum, Short Interest Sector Focus: Energy Sector, Crude Awakening: 5 Oil Stocks Poised For Growth As Global Output Tightens, Why Hold Strategy is Apt for Callon Petroleum (CPE) Stock Now, 7 Energy Stocks That Are Doomed to Fail in the Clean Energy Transition, $50M Bet On Coinbase Global? list of growing companies that insiders are buying. These statements reflect the Company's current views with respect to future events and financial performance based on management's experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Overall, the company might be worth considering, particularly given that the fundamentals point to energy prices remaining high or even increasing over the given year. Investors increased their bearish bets in the energy sector in the past month, as a decline in crude oil prices led to broad weakness in the sector. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. AQ. If you would like to explore the question of insider alignment, you can click here to see if insiders have been buying or selling. Zacks Research also issued estimates for Callon Petroleum's Q4 2023 earnings at $1.75 EPS, FY2023 . Callon . The Company focused on the acquisition, development, exploration, and operation of oil and gas properties. As a company operating the vast majority of our acreage, we have the flexibility to modify development plans to appropriately address continuously-changing industry conditions and commodity price cycles. Terms of Use. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. Many institutions measure their performance against an index that approximates the local market. RT=Real-Time, EOD=End of Day, PD=Previous Day. As is often the case with substantially undervalued companies, Callon Petroleum has some significant risks but is working hard to address them. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body. This is probably due to the company having a somewhat higher risk due to its debt. While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. It should be fairly obvious how a production increase will cause the company's revenues and profits to increase. Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. grandriver Callon Petroleum Company ( NYSE: CPE) is an independent exploration and production company that operates in West and South Texas. RT=Real-Time, EOD=End of Day, PD=Previous Day. Power Hedge focuses our research primarily on dividend-paying, international companies of all sizes with sustainable competitive advantages. It focuses on unconventional oil and natural gas reserves in the Permian Basin. , , , , , , Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, CALLON PETROLEUM COMPANY ANNOUNCES CHIEF OPERATING OFFICER TRANSITION, Callon Petroleum Company Announces Participation in Upcoming Investor Events. However, the loss over the last year isn't as bad as the 11% per annum loss investors have suffered over the last half decade. "Kevin's expertise as a seasoned financial leader with deep experience in both the upstream sector and in investment banking will serve us well as we continue working towards our deleveraging goals. This is especially a big concern in the energy industry as the volatile nature of commodity prices can cause cash flows to fluctuate much more than in many other sectors. We'd need to see some sustained improvements in the key metrics before we could muster much enthusiasm. Analyze quarterly positions in Callon Petroleum with up to 7 years of data, all consolidated into one spreadsheet. . Our data reflects individual insiders, capturing board members at the very least. All Departments. Terms of Use. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. ET Overview Return vs. S&P News & Analysis Financial Health. To get a sense of who is truly in control of Callon Petroleum Company (NYSE:CPE), it is important to understand the ownership structure of the business. Year-over-year quarterly sales growth most recently was -27.9%. Job, Post Date , Department. Whos right? It's also up 11% in about a month. For context, the second largest shareholder holds about 11% of the shares outstanding, followed by an ownership of 9.8% by the third-largest shareholder. This is hardly unusual, as there are many energy. One metric that we can use to evaluate a company's financial structure is the net debt-to-equity ratio. High Island Block 165/130 Field -- Production was resumed on October 4, 2008, and is currently 16.4 MMcf and . U.S. Capital Wealth Advisors LLC bought a new stake in shares of . Alternatively, those holders might be exiting the investment after taking it public. All Locations. We also observed that the top 7 shareholders account for more than half of the share register, with a few smaller shareholders to balance the interests of the larger ones to a certain extent. Callon Petroleum has acquired 2 companies, including 1 in the last 5 years. However, the fact that the company is working to address this problem and the fact that the valuation is so much more attractive than its peers could mean that the company is worth taking a chance on. oil needs to be high in 2023 for CPE to work wellremember hedges are a sold option price is only guaranteed to buyer. It is good to see this level of investment by insiders. Thus, I do not see Callon Petroleum's focus on crude oil to be nearly as much of an advantage as the company's management does. In this case, they own around US$52m worth of shares (at current prices). This is usually accomplished by a company issuing new debt to repay its maturing debt, which can cause its interest expenses to increase depending on conditions in the market. Mr. Haggard holds a Master of Management from the Kellogg School of Management at Northwestern University and a Bachelor of Science in Business Administration from Georgetown University. Callon Petroleum Company is an independent oil and natural gas exploration and production company based in Houston, Texas. Before joining Noble Energy in 2016, Mr. Haggard served as Vice President, Finance and Treasurer of Trinity River Energy and in the same position at HighMount Exploration & Production. Of course, keep in mind that there are other factors to consider, too. The consensus estimate for Callon Petroleum's current full-year earnings is $8.31 per share. It has also divested 1 asset. One thing that we have been seeing some other Permian Basin producers doing is increasing their production. Power Hedge is neither a permabear nor a permabull. Callon Petroleum (CPE) came out with quarterly earnings of $3.68 per share, missing the Zacks Consensus Estimate of $4 per share. I was also somewhat critical of this practice given that the fundamentals of natural gas are much better than the fundamentals of crude oil. The fundamentals for crude oil are not as bad as some believe, either, which improves its prospects a bit. However, on some occasions too much power is concentrated within this group. Analysts Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. The company's oil-focused nature is a bit of a turn-off for me given that crude oil's fundamentals are not as good as many other fuels. The same can be achieved by studying analyst sentiments. Looking for more investing ideas like this one? So it is worth checking the past earnings trajectory of Callon Petroleum, (below). These statements are subject to a number of known and unknown risks and uncertainties, which may cause the Company's actual results and performance to be materially different from any future results or performance expressed or implied by the forward-looking statements including risks more fully discussed in our filings with the Securities and Exchange Commission (the "SEC"), including our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, available on our website or the SEC's website at www.sec.gov. By signing up you agree to receive content from us. Market Data copyright 2023 QuoteMedia. Because institutional owners have a huge pool of resources and liquidity, their investing decisions tend to carry a great deal of weight, especially with individual investors. The company focuses on developing unconventional shale resources in the Permian Basin of West Texas and New Mexico. This announcement is not an offer to purchase or a solicitation of an offer to sell the 2024 Notes or the Second Lien Notes, and it does not constitute a notice of redemption of the 2024 Notes or the Second Lien Notes. How nice for those who held the stock! Terry Trovato - Investor Relations B.F. Weatherly - Executive Vice President & Chief Financial Officer Analysts Ronald Mills - Johnson Rice & Company Richard Tullis - Capital One Southcoast Evan. Take risks, for example - Callon Petroleum has 2 warning signs (and 1 which can't be ignored) we think you should know about. Callon Petroleum has still delivered a reasonable return to its investors, though, as it is up 25.16% over the past twelve months. This ratio essentially tells an investor how much they are paying today for each dollar of earnings the company can be expected to generate over the next year. Have feedback on this article? Callon has entered into a definitive agreement to acquire the membership interests of Permian-based Percussion Petroleum Operating II, LLC ("Percussion") in a cash and stock transaction valued at approximately $475 million and potential contingent payments of up to $62.5 million. According to Zacks Investment Research, Callon Petroleum currently has a forward price-to-earnings ratio of 2.68. FILE - The Occidental Petroleum headquarters building is seen in Los Angeles, Jan. 26, 2010. Market Data powered by QuoteMedia. After all, the companies in this industry literally obtain the products that they sell by pulling them out of reservoirs in the ground. Admittedly, I am not particularly attracted to it because of its focus on crude oil, but the valuation is hard to ignore. Have feedback on this article? This should likewise benefit investors in the company. It might be well worthwhile taking a look at our free report on Callon Petroleum's earnings, revenue and cash flow. Apr 27, 2023 4:15 PM EDT Callon Petroleum Company Announces Board Updates Including Appointment of Matthew R. Bob as Chair Read Release Apr 18, 2023 4:15 PM EDT Callon Petroleum Company Schedules First Quarter 2023 Conference Call for May 4, 2023 Read Release Feb 22, 2023 5:05 PM EST This suggests some credibility amongst professional investors. Houston Office. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. As we will see in just a bit, too, the demand for natural gas will likely increase much more than that for crude oil. The energy sector in general has been one of the best-performing ones this year, although it has admittedly lost a bit of its shine in recent weeks as energy prices have retreated a bit. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's hard to draw any conclusions from this fact alone, so its worth looking into who owns those private companies. Shares of NYSE:CPE opened at $35.06 on Friday. Oak Ridge Investments LLC grew its holdings in shares of Callon Petroleum (NYSE:CPE - Get Rating) by 34.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission.The fund owned 64,655 shares of the oil and natural gas company's stock after buying an additional 16,544 shares during the period. It is a pretty big company, so it is generally a positive to see some potentially meaningful alignment. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. The latest price target for Callon Petroleum ( NYSE: CPE) was reported by Citigroup on Monday, May 22, 2023. The sale of the notes is expected to close on June 24, 2022, subject to customary closing conditions. Prior to those roles, he served as Chief Financial Officer of SunCap Financial and as an investment banker with Credit Suisse. Private companies may be related parties. Power Hedge is an independent stock research and analysis firm with a passion for macro- and microeconomic analysis. We note that hedge funds don't have a meaningful investment in Callon Petroleum. Midland. The general public-- including retail investors -- own 16% stake in the company, and hence can't easily be ignored. You can see below how EPS has changed over time (discover the exact values by clicking on the image). Biggest issue with CPE is that it has not been shareholder friendly. Callon Petroleum Company's trailing 12-month revenue is $3.0 billion with a 46.1% net profit margin. Quadrant Capital Group LLC now owns 1,147 shares of the oil and natural gas company's stock worth $43,000 after purchasing an additional 789 shares during the period. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. May. As the populations of these nations are significantly larger than the populations of the world's developed nations, the increasing demand for crude oil from these nations will more than offset the stagnant-to-declining demand in the world's developed nations. 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 West and South Texas. A. Indeed, the basin is generally considered to be the second-largest source of crude oil in the world, with the Energy Information Administration estimating that it still contains proven reserves of five billion barrels of crude oil and nineteen trillion cubic feet of natural gas despite the fact that the basin has been producing since the 1920s. As of December 31, 2021 (the most recent date for which data is available), Callon Petroleum had total reserves of 484.6 million barrels of oil equivalents: During the second quarter of 2022, Callon Petroleum produced an average of 100,700 barrels of oil equivalents per day. Have feedback on this article? This suggests they can be influential in key policy decisions. Resource companies cannot be valued as ongoing entities because they simply own a finite resource that's in the ground. HOUSTON, June 9, 2022 /PRNewswire/ -- Callon Petroleum Company (NYSE: CPE) ("Callon" or the "Company") announced today that it has priced $600 million aggregate principal amount of its 7.500% senior unsecured notes due 2030 (the "notes") in a private offering that is exempt from registration under the Securities Act of 1933, as amended (the "Sec. May 3 (Reuters) - Callon Petroleum Co (CPE.N) said on Wednesday it has agreed to acquire Permian basin-based Percussion Petroleum Operating II Llc in a cash-and-stock deal valued at about. Our analysis of the ownership of the company, below, shows that institutional investors have bought into the company. As these reservoirs only contain a finite quantity of resources, a company must continually discover or otherwise acquire new resources to replace those that are pulled out of the ground or it will eventually run out of products to sell. It's good to see that there was some significant insider buying in the last three months. Intraday Data provided by FACTSET and subject to terms of use. The information on this site is not intended to be, nor does it constitute, investment advice or recommendations. HOUSTON, May 3, 2023 /PRNewswire/ -- Callon Petroleum Company (NYSE: CPE) ("Callon" or the "Company") today signed two definitive agreements that streamline and focus Callon's operations,. It is always critical that we do not overpay for any asset in our portfolios. After all, it is much easier to plan the company's finances when management knows exactly what price it will receive for some of its production. The company is using hedges to protect itself against fluctuations in oil prices, although many of them are locked in at prices well below today's. More than 900 people are arrested as young rioters clash with police around France. If you would prefer discover what analysts are predicting in terms of future growth, do not miss this free report on analyst forecasts. Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company. Callon Petroleum is an independent E&P producing primarily crude oil in the rich Permian Basin. A new filing with the . The energy sector in general has been one of the best-performing ones this year, although it has admittedly lost a bit of its shine in recent weeks as energy prices have retreated a bit. Cancel anytime to end your subscription, and you won't be charged again. I am not receiving compensation for it (other than from Seeking Alpha). While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. He has a track record of taking strategic action and building impactful teams and relationships across organizations. Another metric that is frequently used to judge the leverage of upstream companies is the leverage ratio, which is also known as the net debt-to-EBITDAX ratio. The growing crude oil demand may be somewhat surprising considering that many of us live in nations in which the governments are actively trying to reduce crude oil consumption. Notably, sometimes top-level managers are on the board themselves. Phone: 281-368-7714. To take things to an extreme, let's take 2 companies and assume the future price of oil is $80 for the next 5 years. Our size allows us to efficiently pivot our business and capitalize on new opportunities.
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