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Market Chatter: Callon Petroleum Soars 10% as Seeking Alpha Highlights Intensive Insider Buying
4/11/2013 2:05:00 PM
By: MT Newswires
Callon Petroleum ( CPE ) shares have bounced almost 10% to $3.92 and are close to their highs for the day after being mentioned in a Seeking Alpha report listing companies that have seen recent intensive insider buying.
CPE is trading within a 52-week range of $3.28 - $6.55.
To qualify for intensive insider buying, a company's stock needs to be bought by three or more insiders within a month, it can't be sold by insiders and at least two buyers need to boost their holdings by more than 10%, the report said.
Callon Petroleum president and CEO Fred Callon, senior president of corporate finance Joseph Gatto and treasurer Rodger Smith have all bought stock in the company recently.