Analysts predict that Callon Petroleum (NYSE:CPE) will announce earnings per share of $0.20 for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Callon Petroleum’s earnings, with the highest EPS estimate coming in at $0.24 and the lowest estimate coming in at $0.16. Callon Petroleum reported earnings per share of $0.17 in the same quarter last year, which suggests a positive year over year growth rate of 17.6%. The company is scheduled to issue its next quarterly earnings results on Tuesday, February 25th.
According to Zacks, analysts expect that Callon Petroleum will report full year earnings of $0.72 per share for the current financial year, with EPS estimates ranging from $0.66 to $0.77. For the next fiscal year, analysts forecast that the business will report earnings of $1.01 per share, with EPS estimates ranging from $0.81 to $1.14. Zacks’ EPS averages 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 announced its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. The company had revenue of $155.38 million during the quarter, compared to analysts’ expectations of $152.61 million. Callon Petroleum had a net margin of 38.86% and a return on equity of 7.48%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS.
CPE has been the subject of several analyst reports. Barclays dropped their price target on shares of Callon Petroleum from $9.00 to $6.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. ValuEngine raised shares of Callon Petroleum from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Evercore ISI reissued a “hold” rating and set a $12.00 price target on shares of Callon Petroleum in a research report on Thursday, August 8th. Northland Securities set a $7.00 price target on shares of Callon Petroleum and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Morgan Stanley dropped their price target on shares of Callon Petroleum from $6.25 to $4.75 and set an “equal weight” rating for the company in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $9.63.
Several large investors have recently bought and sold shares of CPE. Advisor Partners LLC purchased a new stake in shares of Callon Petroleum in the 3rd quarter worth about $46,000. Cornerstone Investment Partners LLC lifted its position in shares of Callon Petroleum by 23.6% in the 3rd quarter. Cornerstone Investment Partners LLC now owns 13,312 shares of the oil and natural gas company’s stock worth $58,000 after purchasing an additional 2,544 shares during the period. Signaturefd LLC lifted its position in shares of Callon Petroleum by 78.1% in the 3rd quarter. Signaturefd LLC now owns 14,244 shares of the oil and natural gas company’s stock worth $62,000 after purchasing an additional 6,246 shares during the period. Sigma Planning Corp purchased a new stake in shares of Callon Petroleum in the 3rd quarter worth about $64,000. Finally, Abacus Planning Group Inc. purchased a new stake in shares of Callon Petroleum in the 3rd quarter worth about $65,000.
CPE traded up $0.18 during trading on Friday, hitting $4.37. 22,756,000 shares of the stock traded hands, compared to its average volume of 11,548,528. The firm has a market capitalization of $1.06 billion, a P/E ratio of 5.33, a price-to-earnings-growth ratio of 0.36 and a beta of 1.46. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a 50-day moving average of $4.12 and a 200 day moving average of $5.35. Callon Petroleum has a 12-month low of $3.68 and a 12-month high of $10.12.
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 and southeastern New Mexico. As of December 31, 2018, its estimated net proved reserves totaled 238.5 million barrel of oil equivalent, including 180.1 MMBbls of oil and 350.5 Bcf of natural gas.
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