Callon Petroleum (NYSE:CPE), a Permian Basin pure play, has corrected by 22% in the last one month, primarily driven by profit booking. Prior to this correction, the stock had surged by 184% in one year. A profit booking correction was therefore likely and presents a good opportunity for investors to consider exposure to this high growth company.
The rally of 184% prior to the correction was driven by strong fundamental factors and this initiation will discuss the factors that contributed to the upside. More importantly, the initiation will discuss the factors that make Callon Petroleum an attractive stock to consider at current levels.
The conclusion from the discussion below is that Callon Petroleum can be considered...
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