Callon Petroleum (NYSE:CPE) released its quarterly earnings results on Wednesday. The oil and natural gas company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.19 by $0.01, Bloomberg Earnings reports. The business had revenue of $127.40 million during the quarter, compared to analyst estimates of $120.69 million. Callon Petroleum had a net margin of 31.28% and a return on equity of 6.04%. The company’s quarterly revenue was up 56.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.22 earnings per share.
NYSE CPE traded up $0.42 on Friday, reaching $13.69. The company’s stock had a trading volume of 3,439,356 shares, compared to its average volume of 4,313,624. Callon Petroleum has a twelve month low of $9.34 and a twelve month high of $14.44. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $2,796.86, a price-to-earnings ratio of 32.52, a PEG ratio of 0.50 and a beta of 1.20.
CPE has been the subject of several recent research reports. TheStreet upgraded shares of Callon Petroleum from a “c+” rating to a “b-” rating in a research report on Wednesday, April 4th. ValuEngine raised shares of Callon Petroleum from a “sell” rating to a “hold” rating in a report on Tuesday, March 20th. SunTrust Banks set a $18.00 price objective on shares of Callon Petroleum and gave the stock a “buy” rating in a report on Monday, April 16th. Piper Jaffray initiated coverage on shares of Callon Petroleum in a report on Thursday, January 4th. They issued an “overweight” rating and a $15.00 price objective for the company. Finally, Imperial Capital reaffirmed an “outperform” rating and issued a $21.00 price objective (up previously from $17.00) on shares of Callon Petroleum in a report on Thursday, March 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the stock. Callon Petroleum currently has an average rating of “Buy” and a consensus target price of $16.42.
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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