Equities analysts forecast that Callon Petroleum (NYSE:CPE) will announce $178.59 million in sales for the current quarter, Zacks reports. Eleven analysts have provided estimates for Callon Petroleum’s earnings, with the lowest sales estimate coming in at $165.40 million and the highest estimate coming in at $197.66 million. Callon Petroleum posted sales of $118.21 million during the same quarter last year, which would indicate a positive year over year growth rate of 51.1%. The company is scheduled to report its next quarterly earnings results on Tuesday, February 26th.
According to Zacks, analysts expect that Callon Petroleum will report full-year sales of $595.77 million for the current financial year, with estimates ranging from $559.00 million to $623.38 million. For the next fiscal year, analysts expect that the company will report sales of $795.00 million, with estimates ranging from $678.00 million to $911.68 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Callon Petroleum.
Callon Petroleum (NYSE:CPE) last issued its earnings results on Tuesday, November 6th. The oil and natural gas company reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The firm had revenue of $161.21 million for the quarter, compared to analyst estimates 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 for the quarter was up 90.5% on a year-over-year basis. During the same period last year, the company earned $0.09 earnings per share.
CPE has been the topic of a number of research analyst reports. TheStreet raised Callon Petroleum from a “c+” rating to a “b-” rating in a report on Monday, September 17th. Bank of America lowered their price target on Callon Petroleum from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, November 8th. Williams Capital set a $16.00 price target on Callon Petroleum and gave the company a “buy” rating in a report on Wednesday, November 7th. Zacks Investment Research raised Callon Petroleum from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Tuesday, October 23rd. Finally, KLR Group reissued a “buy” rating and set a $16.00 price target on shares of Callon Petroleum in a report on Monday, August 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $15.65.
In related news, VP Mitzi P. Conn sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $11.76, for a total transaction of $176,400.00. Following the completion of the transaction, the vice president now owns 42,062 shares of the company’s stock, valued at $494,649.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.82% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. People s United Financial Inc. boosted its position in shares of Callon Petroleum by 8.1% in 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 purchasing an additional 4,882 shares during the period. Liberty Mutual Group Asset Management Inc. boosted its position 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 worth $479,000 after acquiring an additional 4,893 shares during the period. Strs Ohio boosted its position 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 worth $117,000 after acquiring an additional 5,700 shares during the period. Arizona State Retirement System boosted its position 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 worth $1,937,000 after acquiring an additional 5,931 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Callon Petroleum by 26.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 32,568 shares of the oil and natural gas company’s stock worth $389,000 after acquiring an additional 6,856 shares during the period.
Shares of CPE traded up $0.05 during trading hours on Tuesday, reaching $8.04. 3,727,078 shares of the company’s stock traded hands, compared to its average volume of 4,453,270. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 19.14 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.57 and a current ratio of 0.57. Callon Petroleum has a twelve month low of $7.63 and a twelve month high of $14.65.
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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