Callon Petroleum (NYSE:CPE) – Analysts at Imperial Capital lifted their FY2018 earnings estimates for Callon Petroleum in a research report issued to clients and investors on Thursday, November 8th. Imperial Capital analyst I. Haas now expects that the oil and natural gas company will earn $0.91 per share for the year, up from their previous estimate of $0.84. Imperial Capital also issued estimates for Callon Petroleum’s FY2019 earnings at $1.47 EPS.
Callon Petroleum (NYSE:CPE) last announced its quarterly earnings data on Tuesday, November 6th. The oil and natural gas company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. The company had revenue of $161.21 million during the quarter, compared to the consensus estimate of $145.66 million. Callon Petroleum had a return on equity of 8.31% and a net margin of 30.70%. The firm’s revenue was up 90.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS.
Other research analysts also recently issued reports about the company. KLR Group reiterated a “buy” rating and set a $16.00 price objective on shares of Callon Petroleum in a research note on Monday, August 20th. Stephens set a $20.00 price objective on Callon Petroleum and gave the company a “buy” rating in a research note on Wednesday, July 25th. Williams Capital assumed coverage on Callon Petroleum in a research note on Wednesday, October 24th. They set a “buy” rating and a $16.00 price objective for the company. Piper Jaffray Companies reiterated a “buy” rating and set a $20.00 price objective on shares of Callon Petroleum in a research note on Sunday, August 12th. Finally, ValuEngine downgraded Callon Petroleum from a “hold” rating to a “sell” rating in a research note on Friday, September 7th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $16.14.
Shares of NYSE:CPE opened at $10.41 on Friday. The company has a market cap of $2.52 billion, a P/E ratio of 24.79 and a beta of 1.06. The company has a quick ratio of 2.61, a current ratio of 0.57 and a debt-to-equity ratio of 0.46. Callon Petroleum has a 12-month low of $9.23 and a 12-month high of $14.65.
Several institutional investors and hedge funds have recently modified their holdings of the company. MHI Funds LLC raised its holdings in shares of Callon Petroleum by 36.6% during the 2nd quarter. MHI Funds LLC now owns 18,053 shares of the oil and natural gas company’s stock worth $194,000 after acquiring an additional 4,837 shares in the last quarter. People s United Financial Inc. raised its holdings in Callon Petroleum by 8.1% during the 2nd quarter. People s United Financial Inc. now owns 65,335 shares of the oil and natural gas company’s stock valued at $701,000 after buying an additional 4,882 shares during the period. Liberty Mutual Group Asset Management Inc. raised its holdings in Callon Petroleum by 12.3% during the 2nd quarter. Liberty Mutual Group Asset Management Inc. now owns 44,645 shares of the oil and natural gas company’s stock valued at $479,000 after buying an additional 4,893 shares during the period. Strs Ohio raised its holdings in Callon Petroleum by 139.0% during the 3rd quarter. Strs Ohio now owns 9,800 shares of the oil and natural gas company’s stock valued at $117,000 after buying an additional 5,700 shares during the period. Finally, Arizona State Retirement System raised its holdings in Callon Petroleum by 3.8% during the 3rd quarter. Arizona State Retirement System now owns 161,585 shares of the oil and natural gas company’s stock valued at $1,937,000 after buying an additional 5,931 shares during the period.
In other news, VP Mitzi P. Conn sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $11.76, for a total transaction of $176,400.00. Following the sale, the vice president now directly owns 42,062 shares of the company’s stock, valued at approximately $494,649.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.82% of the stock is owned by corporate insiders.
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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