RTTNews | Nov 4, 2021 11:18AM EDT

11:18 Thursday, November 4, 2021 (RTTNews.com) - Callon Petroleum Co. (CPE) shares are rising on Thursday morning trade after the company reported profit for the third quarter.

The quarterly net profit was $171.90 million compared to net loss of $680.38 million in the prior year. On an adjusted basis, earnings were $137.9 million, or $2.93 per share. Analysts were looking for earnings of $2.52 per share.

Currently, shares are at $56.78, up 6.76 percent from the previous close of $53.19 on a volume of 1,960,551. For the 52-week period, the shares have traded in a range of $5.35-$61.49 on average volume of 1,776,233.

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