Callon Petroleum Co Stock Research

Market Summary

USD30.56+0.34

Delayed

1.13%

CPE Alerts

Big jump in Revenue (Y/Y)

CPE Stock Price

CPE RSI Chart

CPE Valuation

Market Cap

1.9B

Price/Earnings (Trailing)

1.56

Price/Sales (Trailing)

0.58

EV/EBITDA

2.33

Price/Free Cashflow

1.25

CPE Price/Sales (Trailing)

CPE Profitability

EBT Margin

37.81%

Return on Equity

39.21%

Return on Assets

19.68%

Free Cashflow Yield

79.73%

CPE Fundamentals

CPE Revenue

Revenue (TTM)

3.2B

Revenue Y/Y

516.14%

Revenue Q/Q

-15.75%

CPE Earnings

Earnings (TTM)

1.2B

Earnings Y/Y

-4.52%

Earnings Q/Q

-50.42%

Price Action

52 Week Range

28.9166.48

(Low)(High)

Last 7 days

-22.0%

Last 30 days

-26.8%

Last 90 days

-14.7%

Trailing 12 Months

-44.4%

CPE Financial Health

Current Ratio

0.42

Debt/Equity

0.73

Debt/Cashflow

0.67

CPE Investor Care

Shares Dilution (1Y)

0.41%

Diluted EPS (TTM)

19.54

Peers (Alternatives to Callon Petroleum)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
EOG	60.9B	25.7B	-23.86%	-6.70%	7.85	2.37	37.87%	66.36%
OXY	60.4B	37.1B	-12.29%	4.78%	4.68	1.64	40.97%	472.95%
DVN	49.8B	19.8B	-29.01%	-13.47%	9.45	2.71	44.20%	113.83%
PXD	44.6B	24.4B	-21.77%	-18.01%	5.68	1.83	36.45%	270.40%
FANG	22.6B	9.6B	-17.20%	4.67%	5.15	2.34	41.87%	101.01%
APA	14.4B	11.9B	-24.61%	-11.58%	4.67	1.31	50.58%	232.96%
MID-CAP
OVV	8.6B	14.3B	-31.07%	-22.32%	2.37	0.6	36.25%	156.85%
RRC	6.0B	5.3B	-6.30%	-5.53%	5.09	1.13	49.01%	187.38%
MTDR	5.4B	3.2B	-31.43%	-11.75%	4.47	1.7	71.67%	107.57%
OAS	4.4B	3.6B	-33.88%	7.97%	4.99	1.94	130.82%	480.77%
CRK	3.0B	3.6B	-16.98%	14.70%	2.6	0.82	96.03%	571.98%
KOS	2.9B	2.2B	-22.76%	7.07%	12.82	1.29	68.57%	391.06%
CPE	1.9B	3.2B	-26.77%	-44.44%	1.56	0.58	60.18%	231.32%
SMALL-CAP
PARR	1.6B	7.3B	-8.48%	116.33%	4.35	0.22	55.45%	547.97%
LPI	805.4M	1.9B	-8.19%	-35.44%	1.28	0.42	37.78%	335.50%

Financials for Callon Petroleum

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	22.3%	3,231	2,641	2,358	1,884	1,467
Operating Expenses	29.0%	1,550	1,202	1,048	863	711
S&GA Expenses	4.0%	57.00	55.00	51.00	51.00	50.00
EBITDA	0.2%	1,768	1,764	1,360	975	-
EBITDA Margin	-18.1%	0.55*	0.67*	0.79*	0.40*	-
Earnings Before Taxes	-0.6%	1,222	1,229	850	487	365
EBT Margin	-18.7%	0.38*	0.47*	0.49*	0.20*	-
Interest Expenses	-8.4%	80.00	87.00	95.00	99.00	102
Net Income	-1.1%	1,210	1,223	845	485	365
Net Income Margin	-19.1%	0.37*	0.46*	0.49*	0.20*	-
Free Cahsflow	0.4%	1,502	1,495	1,314	608	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	0.8%	6,146	6,100	5,948	5,746	5,548
Current Assets	-15.2%	298	351	405	385	295
Cash Equivalents	-22.0%	3.00	4.00	6.00	4.00	10.00
Net PPE	3.3%	5,450	5,274	5,166	-	-
Liabilities	-7.0%	3,061	3,291	3,689	3,831	3,682
Current Liabilities	-11.5%	703	794	1,042	1,073	872
Long Term Debt	-5.6%	2,241	2,373	2,516	2,623	2,694
Shareholder's Equity	9.8%	3,085	2,809	2,259	1,915	1,866
Retained Earnings	22.5%	-937	-1,209	-1,759	-2,107	-2,147
Additional Paid-In Capital	0.1%	4,022	4,018	4,018	4,021	4,012
Accumulated Depreciation	1.4%	31.00	30.00	30.00	-	-
Shares Outstanding	0.0%	62.00	62.00	62.00	61.00	61.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	0.4%	1,502	1,495	1,314	1,118	974
Share Based Compensation	25.7%	3.00	2.00	1.00	9.00	13.00
Cashflow From Investing	16.0%	-999	-1,189	-1,094	-999	-876
Cashflow From Financing	-67.1%	-508	-304	-217	-138	-108

Risks for CPE

What is the probability of a big loss on CPE?

100%

Probability that Callon Petroleum stock will be more than 20% underwater in next one year

96.5%

Probability that Callon Petroleum stock will be more than 30% underwater in next one year.

86.5%

Probability that Callon Petroleum stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does CPE drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Callon Petroleum was unfortunately bought at previous high price.

Drawdowns

Returns for CPE

Cumulative Returns on CPE

-3.6%

10-Year Cumulative Returns

-13.5%

7-Year Cumulative Returns

-23.8%

5-Year Cumulative Returns

65.8%

3-Year Cumulative Returns

What are the long-term rolling returns for CPE?

FIve years rolling returns for Callon Petroleum.

Annualized Returns

Which funds bought or sold CPE recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-36.6	-4,783,800	9,787,200	0.01%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-8.26	-1,000	11,000	-%
2023-03-01	Goehring & Rozencwajg Associates, LLC	new	-	914,331	914,331	0.32%
2023-02-28	Voya Investment Management LLC	unchanged	-	39,071	698,071	-%
2023-02-27	Parallax Volatility Advisers, L.P.	added	8.64	1,539,960	11,748,000	0.02%
2023-02-24	NATIXIS	sold off	-100	-3,262,000	-	-%
2023-02-22	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	added	23.49	137,000	583,000	0.01%
2023-02-21	MACQUARIE GROUP LTD	reduced	-26.36	-424,000	1,445,000	-%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	new	-	97,287	97,287	-%
2023-02-17	TRUIST FINANCIAL CORP	reduced	-7.59	-101,540	4,731,460	0.01%

Latest Funds Activity

Are funds buying CPE calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own CPE

No. of Funds

CPE Alerts

Big jump in Revenue (Y/Y)

Callon Petroleum News

Schedule 13G FIlings of Callon Petroleum

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	vanguard group inc	10.92%	6,728,744	SC 13G/A
Feb 02, 2023	state street corp	7.32%	4,506,810	SC 13G/A
Jan 26, 2023	blackrock inc.	13.0%	7,998,948	SC 13G/A
Jan 25, 2023	bpp holdco llc	9.5%	5,832,824	SC 13D/A
Jan 20, 2023	blackrock inc.	13.0%	7,998,948	SC 13G/A
Nov 15, 2022	blackstone holdings iii l.p.	0%	0	SC 13D/A
Jun 13, 2022	blackstone holdings iii l.p.	1.6%	991,703	SC 13D/A
Jun 03, 2022	kimmeridge energy management company, llc	8.4%	5,200,780	SC 13G/A
Apr 20, 2022	blackstone holdings iii l.p.	1.6%	991,703	SC 13D/A
Apr 06, 2022	blackstone holdings iii l.p.	1.6%	991,703	SC 13D/A

CPE Fair Value

Callon Petroleum fair value in different scenarios

The table shows the Fair Value estimates for Callon Petroleum for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	195.65 540.22%	249.84 717.54%	518.97 1598.20%	843.82 2661.19%	1401.78 4486.98%
Current Inflation	181.09 492.57%	228.02 646.14%	462.23 1412.53%	740.04 2321.60%	1216.97 3882.23%
Very High Inflation	162.86 432.92%	201.23 558.48%	394.29 1190.22%	617.81 1921.63%	1001.32 3176.57%

Historical Callon Petroleum Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Callon Petroleum

View All Filings

Date Filed	Form Type	Document
Mar 13, 2023	ARS	ARS
Mar 13, 2023	DEF 14A	DEF 14A
Mar 13, 2023	DEFA14A	DEFA14A
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Feb 28, 2023	4	Insider Trading
Feb 23, 2023	10-K	Annual Report

Latest Insider Trading transactions for CPE

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-02-27	Faulkenberry Barbara J	bought	9,794	39.179	250	-
2023-01-01	Conaway Gregory F	acquired	-	-	1,645	vice president & cao
2023-01-01	Conaway Gregory F	sold (taxes)	-18,099	37.09	-488	vice president & cao
2022-12-31	Ecklund Michol L	sold (taxes)	-32,490	37.09	-876	svp,general counsel & corp sec
2022-12-31	Gatto Joseph C. Jr.	back to issuer	-237,629	36.07	-6,588	president and ceo
2022-12-31	Gatto Joseph C. Jr.	sold (taxes)	-67,652	37.09	-1,824	president and ceo
2022-12-31	Balmer Jeffrey S	back to issuer	-112,214	36.07	-3,111	senior vp and coo
2022-12-31	Gatto Joseph C. Jr.	acquired	-	-	6,588	president and ceo
2022-12-31	Conaway Gregory F	acquired	-	-	724	vice president & cao
2022-12-31	Balmer Jeffrey S	sold (taxes)	-51,555	37.09	-1,390	senior vp and coo

About Callon Petroleum

Joseph C. Gatto

www.callon.com

320

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, exploration, and development of oil and natural gas properties in Permian Basin in West Texas. As of December 31, 2021, its estimated net proved reserves totaled approximately 484.6 million barrel of oil equivalent, including 290.3 MMBbls oil, 577.3 Bcf of natural gas, and 98.1 MMBbls of natural gas liquids. The company was founded in 1950 and is headquartered in Houston, Texas.

CPE Income Statement

2022-12-31

Consolidated Statements of Operations - USD ($) shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Revenues:
Total operating revenues	$ 3,230,964,000	$ 2,045,030,000	$ 1,033,147,000
Operating Expenses:
Lease operating	290,486,000	203,141,000	194,101,000
Production and ad valorem taxes	159,920,000	100,160,000	62,638,000
Gathering, transportation and processing	96,902,000	80,970,000	77,309,000
Depreciation, depletion and amortization	466,517,000	356,556,000	480,631,000
General and administrative	57,393,000	50,483,000	37,187,000
Impairment of evaluated oil and gas properties	0	0	2,547,241,000
Merger, integration and transaction	769,000	14,289,000	28,482,000
Total operating expenses	1,550,432,000	1,006,687,000	3,479,355,000
Income From Operations	1,680,532,000	1,038,343,000	(2,446,208,000)
Other (Income) Expenses:
Interest expense, net of capitalized amounts	79,667,000	102,012,000	94,329,000
Loss on derivative contracts	330,953,000	522,300,000	27,773,000
(Gain) loss on extinguishment of debt	45,658,000	41,040,000	(170,370,000)
Other (income) expense	2,645,000	7,660,000	13,627,000
Total other (income) expense	458,923,000	673,012,000	(34,641,000)
Income (loss) before income taxes	1,221,609,000	365,331,000	(2,411,567,000)
Income tax expense	(11,793,000)	(180,000)	(122,054,000)
Net Income (Loss)	$ 1,209,816,000	$ 365,151,000	$ (2,533,621,000)
Net Income (Loss) Per Common Share:
Basic (in dollars per share)	$ 19.63	$ 7.51	$ (63.79)
Diluted (in dollars per share)	$ 19.54	$ 7.26	$ (63.79)
Weighted Average Common Shares Outstanding:
Basic (in shares)	61,620	48,612	39,718
Diluted (in shares)	61,904	50,311	39,718
Oil
Operating Revenues:
Total operating revenues	$ 2,262,647,000	$ 1,516,225,000	$ 850,667,000
Natural gas
Operating Revenues:
Total operating revenues	232,681,000	141,493,000	51,866,000
Natural gas liquids
Operating Revenues:
Total operating revenues	260,472,000	193,861,000	81,295,000
Sales of purchased oil and gas
Operating Revenues:
Total operating revenues	475,164,000	193,451,000	49,319,000
Operating Expenses:
Cost of purchased oil and gas	$ 478,445,000	$ 201,088,000	$ 51,766,000

CPE Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 3,395	$ 9,882
Accounts receivable, net	237,128	232,436
Fair value of derivatives	21,332	22,381
Other current assets	35,783	30,745
Total current assets	297,638	295,444
Oil and natural gas properties, full cost accounting method:
Evaluated properties, net	4,023,603	3,352,821
Unevaluated properties	1,711,306	1,812,827
Total oil and natural gas properties, net	5,734,909	5,165,648
Other property and equipment, net	26,152	28,128
Deferred financing costs	18,822	18,125
Other assets, net	68,560	40,158
Total assets	6,146,081	5,547,503
Current liabilities:
Accounts payable and accrued liabilities	536,233	569,991
Fair value of derivatives	16,197	185,977
Other current liabilities	150,384	116,523
Total current liabilities	702,814	872,491
Long-term debt	2,241,295	2,694,115
Asset retirement obligations	53,892	54,458
Fair value of derivatives	13,415	11,409
Other long-term liabilities	49,243	49,262
Total liabilities	3,060,659	3,681,735
Commitments and contingencies
Stockholders’ equity:
Common stock	616	614
Capital in excess of par value	4,022,194	4,012,358
Accumulated deficit	(937,388)	(2,147,204)
Total stockholders’ equity	3,085,422	1,865,768
Total liabilities and stockholders’ equity	$ 6,146,081	$ 5,547,503