Callon Petroleum (NYSE:CPE) – Research analysts at Piper Jaffray reduced their Q1 2018 earnings estimates for Callon Petroleum in a research note issued to investors on Thursday, April 19th. Piper Jaffray analyst D. Kistler now forecasts that the oil and natural gas company will post earnings per share of $0.19 for the quarter, down from their prior forecast of $0.24. Piper Jaffray has a “Buy” rating and a $16.00 price objective on the stock. Piper Jaffray also issued estimates for Callon Petroleum’s Q2 2018 earnings at $0.23 EPS, Q3 2018 earnings at $0.25 EPS, Q4 2018 earnings at $0.27 EPS, Q1 2019 earnings at $0.29 EPS, Q2 2019 earnings at $0.31 EPS, Q3 2019 earnings at $0.32 EPS and Q4 2019 earnings at $0.35 EPS.
Callon Petroleum (NYSE:CPE) last announced its earnings results on Tuesday, February 27th. The oil and natural gas company reported $0.15 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.15. Callon Petroleum had a return on equity of 5.02% and a net margin of 32.86%. The business had revenue of $118.21 million for the quarter, compared to analyst estimates of $109.95 million.
A number of other analysts have also issued reports on the company. KeyCorp set a $16.00 target price on Callon Petroleum and gave the stock a “buy” rating in a research report on Monday. SunTrust Banks set a $18.00 price objective on Callon Petroleum and gave the company a “buy” rating in a report on Monday, April 16th. TheStreet raised Callon Petroleum from a “c+” rating to a “b-” rating in a report on Wednesday, April 4th. Stifel Nicolaus set a $20.00 price objective on Callon Petroleum and gave the company a “buy” rating in a report on Wednesday, March 28th. Finally, ValuEngine raised Callon Petroleum from a “sell” rating to a “hold” rating in a report on Tuesday, March 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $16.42.
Shares of NYSE CPE opened at $14.26 on Monday. Callon Petroleum has a 1 year low of $9.34 and a 1 year high of $14.43. The stock has a market cap of $2,861.48, a PE ratio of 33.95 and a beta of 1.18. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.70 and a current ratio of 0.70.
A number of hedge funds have recently modified their holdings of the business. Phocas Financial Corp. boosted its stake in Callon Petroleum by 33.0% in the fourth quarter. Phocas Financial Corp. now owns 986,364 shares of the oil and natural gas company’s stock valued at $11,984,000 after acquiring an additional 244,605 shares during the period. Sterling Capital Management LLC boosted its stake in Callon Petroleum by 13.0% in the fourth quarter. Sterling Capital Management LLC now owns 1,738,800 shares of the oil and natural gas company’s stock valued at $21,126,000 after acquiring an additional 200,000 shares during the period. Segall Bryant & Hamill LLC boosted its stake in Callon Petroleum by 14.8% in the fourth quarter. Segall Bryant & Hamill LLC now owns 485,858 shares of the oil and natural gas company’s stock valued at $5,903,000 after acquiring an additional 62,810 shares during the period. MetLife Investment Advisors LLC acquired a new position in Callon Petroleum in the fourth quarter valued at approximately $2,721,000. Finally, Glenmede Trust Co. NA boosted its stake in Callon Petroleum by 34.8% in the fourth quarter. Glenmede Trust Co. NA now owns 3,594,100 shares of the oil and natural gas company’s stock valued at $43,667,000 after acquiring an additional 927,463 shares during the period.
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Callon Petroleum Company Profile
Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional onshore, oil, and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2017, its estimated net proved reserves totaled 137.0 million barrel of oil equivalent.
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