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Oil, Materials Stocks Continue Their Climb.(B)(NYSE STOCKS IN THE NEWS)
Byline: Jonah Keri
Callon Petroleum broke out of a four-month base in late April. The firm continued to ride the wave of rising oil prices, surging to a new high in July. It's since formed a 12-week base and is trading just above its 50-day moving average.
The oil and gas exploration and development firm uses computer-aided technology such as 3-D surveys while trolling in the Gulf of Mexico, Louisiana and Alabama.
After a prolonged period of losses, Callon has posted earnings of 47 and 58 cents a share the last two quarters. Sales growth has surged to 50% and 104% during that time after more erratic growth. Oil ...
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