Callon Petroleum (CPE) Shares Cross Below Book Value

In trading on Wednesday, shares of Callon Petroleum Co. (CPE) crossed below their last reported book value — defined as common shareholder equity per share — of $7.85, changing hands as low as $7.71 per share. Callon Petroleum Co. shares are currently trading off about 2.6% on the day. The chart below shows the one year performance of CPE shares, versus its 50 and 200 day moving averages:

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Callon Petroleum Co.  Moving Averages Chart

Looking at the chart above, CPE's low point in its 52 week range is $4.09 per share, with $12.09 as the 52 week high point — that compares with a last trade of $7.90.

According to the ETF Finder at ETF Channel, CPE makes up 1.39% of the SPDR S&P Oil & Gas Exploration & Production ETF ( XOP) which is trading lower by about 0.7% on the day Wednesday.

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