Analysts Issue Forecasts for Callon Petroleum’s Q2 2019 Earnings (CPE)

Callon Petroleum (NYSE:CPE) – Analysts at Seaport Global Securities lifted their Q2 2019 EPS estimates for Callon Petroleum in a research report issued on Wednesday, May 23rd. Seaport Global Securities analyst M. Kelly now anticipates that the oil and natural gas company will post earnings of $0.26 per share for the quarter, up from their prior estimate of $0.24. Seaport Global Securities also issued estimates for Callon Petroleum’s Q3 2019 earnings at $0.36 EPS.

Callon Petroleum (NYSE:CPE) last announced its quarterly earnings data on Tuesday, February 27th. The oil and natural gas company reported $0.15 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.15. The business had revenue of $118.21 million for the quarter, compared to analyst estimates of $109.95 million. Callon Petroleum had a net margin of 31.28% and a return on equity of 5.98%.

A number of other brokerages have also commented on CPE. B. Riley started coverage on shares of Callon Petroleum in a research report on Monday, February 5th. They issued a “neutral” rating and a $11.75 price objective on the stock. ValuEngine lowered shares of Callon Petroleum from a “buy” rating to a “hold” rating in a research report on Tuesday, May 15th. Imperial Capital reaffirmed an “outperform” rating and set a $21.00 price target (up from $17.00) on shares of Callon Petroleum in a research report on Thursday, March 1st. SunTrust Banks set a $18.00 price target on shares of Callon Petroleum and gave the stock a “buy” rating in a research report on Monday, April 16th. Finally, Stifel Nicolaus set a $20.00 price target on shares of Callon Petroleum and gave the stock a “buy” rating in a research report on Wednesday, March 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $16.42.

Shares of CPE stock opened at $12.48 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market capitalization of $2.72 billion, a PE ratio of 29.71, a price-to-earnings-growth ratio of 0.33 and a beta of 1.20. Callon Petroleum has a 12 month low of $9.34 and a 12 month high of $14.65.

Several large investors have recently added to or reduced their stakes in CPE. Bank of Montreal Can increased its holdings in shares of Callon Petroleum by 17.7% in the fourth quarter. Bank of Montreal Can now owns 263,960 shares of the oil and natural gas company’s stock valued at $3,206,000 after purchasing an additional 39,748 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Callon Petroleum by 4.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 942,655 shares of the oil and natural gas company’s stock valued at $11,454,000 after purchasing an additional 36,961 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Callon Petroleum in the fourth quarter valued at $234,000. Texas Permanent School Fund increased its holdings in shares of Callon Petroleum by 3.4% in the fourth quarter. Texas Permanent School Fund now owns 136,434 shares of the oil and natural gas company’s stock valued at $1,658,000 after purchasing an additional 4,465 shares during the last quarter. Finally, MHI Funds LLC acquired a new position in shares of Callon Petroleum in the fourth quarter valued at $161,000.

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.

Earnings History and Estimates for Callon Petroleum (NYSE:CPE)

Receive News & Ratings for Callon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply