We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Here's Why Callon Petroleum (CPE) is an Attractive Investment Bet
Read MoreHide Full Article
Callon Petroleum Company witnessed upward estimate revisions for 2022 and 2023 earnings in the past 30 days. The leading upstream energy firm, flaunting a Zacks Rank #1 (Strong Buy), is likely to record earnings growth of 84.5% in 2022.
What’s Favoring the Stock?
West Texas Intermediate crude price, trading at more than $110 per barrel, has risen drastically in the past year. The sharp rise in oil price can be hitched to the assumptions by many analysts that the Ukraine war may be prolonged.
Being a leading exploration and production company, Callon Petroleum is well-positioned to capitalize on the rally in crude price. The company has a strong footprint in Permian, the most prolific basin in the United States, brightening its production outlook. Callon Petroleum is planning to allocate more capital in the most prolific basin this year than the last year. Compared with 75% of capital budget allocation for Permian in 2021, the upstream player has decided to increase the proportion to 85% in 2022.
Callon Petroleum is also focused on greenhouse gas emissions and lowering routine flaring. The new targets of Callon Petroleum also comprise strengthening its financials while deleveraging the balance sheet.
Banking on these developments, the company is expected to generate significant free cash flows.
Considering production and reserves, ConocoPhillips is one of the leading exploration and production players in the global market. COP witnessed upward earnings estimate revisions for 2022 and 2023 in the past 30 days.
In 2022, ConocoPhillips is likely to see an earnings growth of 141.6%.
Marathon Oil is a leading oil and natural gas exploration and production company. MRO witnessed upward earnings estimate revisions for 2022 and 2023 in the past 30 days.
In 2022, Marathon Oil is likely to see an earnings growth of 201.3%.
In the United States, Occidental Petroleum is among the largest oil producers. OXY witnessed upward earnings estimate revisions for 2022 and 2023 in the past 30 days.
In 2022, Occidental Petroleum is likely to see an earnings growth of 278.8%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Here's Why Callon Petroleum (CPE) is an Attractive Investment Bet
Callon Petroleum Company witnessed upward estimate revisions for 2022 and 2023 earnings in the past 30 days. The leading upstream energy firm, flaunting a Zacks Rank #1 (Strong Buy), is likely to record earnings growth of 84.5% in 2022.
What’s Favoring the Stock?
West Texas Intermediate crude price, trading at more than $110 per barrel, has risen drastically in the past year. The sharp rise in oil price can be hitched to the assumptions by many analysts that the Ukraine war may be prolonged.
Being a leading exploration and production company, Callon Petroleum is well-positioned to capitalize on the rally in crude price. The company has a strong footprint in Permian, the most prolific basin in the United States, brightening its production outlook. Callon Petroleum is planning to allocate more capital in the most prolific basin this year than the last year. Compared with 75% of capital budget allocation for Permian in 2021, the upstream player has decided to increase the proportion to 85% in 2022.
Callon Petroleum is also focused on greenhouse gas emissions and lowering routine flaring. The new targets of Callon Petroleum also comprise strengthening its financials while deleveraging the balance sheet.
Banking on these developments, the company is expected to generate significant free cash flows.
Callon Petroleum Company Price
Callon Petroleum Company price | Callon Petroleum Company Quote
Other Stocks to Consider
Some other top-ranked players in the energy space are ConocoPhillips (COP - Free Report) , Marathon Oil (MRO - Free Report) and Occidental Petroleum (OXY - Free Report) . While ConocoPhillips and Marathon Oil carry a Zacks Rank #2 (Buy), Occidental Petroleum sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Considering production and reserves, ConocoPhillips is one of the leading exploration and production players in the global market. COP witnessed upward earnings estimate revisions for 2022 and 2023 in the past 30 days.
In 2022, ConocoPhillips is likely to see an earnings growth of 141.6%.
Marathon Oil is a leading oil and natural gas exploration and production company. MRO witnessed upward earnings estimate revisions for 2022 and 2023 in the past 30 days.
In 2022, Marathon Oil is likely to see an earnings growth of 201.3%.
In the United States, Occidental Petroleum is among the largest oil producers. OXY witnessed upward earnings estimate revisions for 2022 and 2023 in the past 30 days.
In 2022, Occidental Petroleum is likely to see an earnings growth of 278.8%.