Stock on Radar: Callon Petroleum Company (NYSE:CPE) Price Target Update

During the past trading session, shares of Callon Petroleum Company (NYSE:CPE) traded +21.11%. Covering analysts are predicting the stock to move to $18.48 within the next year. Depending on the analyst, target price projections may differ widely. This target price is a consensus number based on polled analysts by Thomson Reuters. 

Analysts and investors may use different metrics in order to calculate a price target projection. A very common metric used is the price to earnins ratio of a company. This calculation comes from dividing the current share price by the projected earnings per share. At the time of writing, Callon Petroleum Company Common has a P/E Ratio of N/A. Investors may also examine a company’s PEG or price to earnings growth ratio. The PEG ratio represents the ratio of the price to earnings to the anticipated future growth rate of the company. A company with a PEG Ratio below one may be seen as undervalued while a PEG Ratio above one may signal that the company is overvalued. A PEG Ratio close to one may be considered to be fair value. Currently, the stock has a PEG Ratio of 0.59.

Let’s take a quick look at stock performance. Shares are currently trading $2.94 away from the 50-day moving average of $14.56 and $4.28 away from the 200-day moving average of $13.22. Shares are currently trading -2.64% away from the 52-week high price of 17.98 and +315.68% off the 52-week low of 4.21. Keeping an eye on the stock price relative to moving averages and yearly highs/lows may help evaluate future stock value. 

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