Callon Petroleum (CPE) Active Following Q1 Miss

May 8, 2012 3:51 PM EDT
Callon Petroleum (NYSE: CPE) shares are volatile Tuesday following its first-quarter 2012 report. EPS was 1 cent, missing views calling for 8 cents.

Market data has implied volatility up 14.5 percent from Monday's close and 123 percent better than the historical average over the last year.

Shares are down about 17.5 percent. Amid the drop, Callon shares were still about 37 percent above a new 52-week low...currently at $3.02.

Volume on the move is about 4 times the trailing three-month average.

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