Today's Dead Cat Bounce Stock Is Callon Petroleum (CPE)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer.

Trade-Ideas LLC identified Callon Petroleum ( CPE) as a "dead cat bounce" (down big yesterday but up big today) candidate. In addition to specific proprietary factors, Trade-Ideas identified Callon Petroleum as such a stock due to the following factors:

  • CPE has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $16.8 million.
  • CPE has traded 82,009 shares today.
  • CPE is up 3.2% today.
  • CPE was down 5% yesterday.

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More details on CPE:

Callon Petroleum Company engages in the exploration, development, acquisition, and production of oil and natural gas properties in the Permian Basin in West Texas. CPE has a PE ratio of 13.1. Currently there are 9 analysts that rate Callon Petroleum a buy, no analysts rate it a sell, and 2 rate it a hold.

The average volume for Callon Petroleum has been 2.1 million shares per day over the past 30 days. Callon has a market cap of $563.1 million and is part of the basic materials sector and energy industry. The stock has a beta of 2.02 and a short float of 8.7% with 2.55 days to cover. Shares are up 56.7% year-to-date as of the close of trading on Tuesday.

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