Recent insider trends for Callon Petroleum Company (NYSE:CPE) have caught the attention of investors. Patters in insider activity can help analysts formulate an outlook for a stock. In the case of CPE, the data has a lot to say about how the stock might perform going forward.
Institutions own 118.32% of Callon Petroleum Company (CPE)’s shares. The total value of these holdings, in millions, is $2,701. Among active positions in the latest quarter, 172 holders increased their positions by a total of 39.62 million shares, 117 holders decreased the positions by a total of 34.66 million shares, and 20 holders held their positions. This works out to a net increase in ownership of 4.96 million shares, and suggests that institutions are feeling bullish about the stock.
Among new and sold out positions, 28 holders initiated new positions by a total of 6.43 million shares and 49 holders exited their positions by a total of 11.46 million shares. This nets out to a decrease of 5.03 million shares and is another bearish sign for CPE.
Insider ownership increased by a total of 0 shares, which suggests that CPE’s key executives are feeling more optimistic about the outlook for the stock. The data from the past twelve months tells a different story: insiders executed 11 sells, and ownership decreased by a net of 452433 shares.
Comparing the number of shares sold short over time is a method analysts often use to get a reading on investor sentiment. Callon Petroleum Company (NYSE:CPE)’s short interest is 49.47 million shares, or 24.84% of the float. This represents an increase of 24% in the number of shares being shorted compared to the previous reading, and implies that investors felt more pessimistic about the stock during the past two weeks.
Supplementing insider data with technical indicators can help an investor form a more complete view on the outlook for a stock. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that CPE is a Weak buy, which implies that CPE is expected to outperform the market based on prior trading patterns.
Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bullish. Technical indicators (also) suggest that Callon Petroleum Company (NYSE:CPE) is undervalued.