Wall Street brokerages expect Callon Petroleum (NYSE:CPE) to report $0.21 earnings per share (EPS) for the current quarter, Zacks reports. Eight analysts have made estimates for Callon Petroleum’s earnings. The lowest EPS estimate is $0.19 and the highest is $0.24. Callon Petroleum reported earnings of $0.17 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 23.5%. The firm is scheduled to announce its next earnings results on Tuesday, February 25th.
According to Zacks, analysts expect that Callon Petroleum will report full year earnings of $0.73 per share for the current year, with EPS estimates ranging from $0.71 to $0.77. For the next year, analysts anticipate that the firm will report earnings of $1.04 per share, with EPS estimates ranging from $0.85 to $1.21. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Callon Petroleum.
Callon Petroleum (NYSE:CPE) last released its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. Callon Petroleum had a net margin of 38.86% and a return on equity of 7.48%. The firm had revenue of $155.38 million during the quarter, compared to analyst estimates of $152.61 million. During the same quarter in the prior year, the firm earned $0.21 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year.
CPE has been the subject of a number of research reports. Johnson Rice cut shares of Callon Petroleum from a “buy” rating to an “accumulate” rating in a report on Tuesday, November 19th. Williams Capital set a $8.00 price target on shares of Callon Petroleum and gave the stock a “buy” rating in a research note on Monday, October 21st. Barclays cut their price objective 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. Northland Securities reaffirmed a “buy” rating and set a $7.00 price target on shares of Callon Petroleum in a report on Monday, November 18th. Finally, Morgan Stanley decreased their price target on Callon Petroleum from $6.25 to $4.75 and set an “equal weight” rating on the stock in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. Callon Petroleum currently has an average rating of “Hold” and a consensus target price of $9.69.
Shares of CPE traded up $0.30 on Tuesday, reaching $4.11. The company’s stock had a trading volume of 13,667,229 shares, compared to its average volume of 16,624,720. The stock’s 50 day simple moving average is $4.00 and its two-hundred day simple moving average is $4.94. 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 stock has a market capitalization of $870.15 million, a P/E ratio of 5.08, a PEG ratio of 0.29 and a beta of 1.50. Callon Petroleum has a 12-month low of $3.51 and a 12-month high of $8.68.
Several large investors have recently modified their holdings of the stock. Cerebellum GP LLC acquired a new stake in shares of Callon Petroleum during the 3rd quarter worth approximately $91,000. Advisor Partners LLC purchased a new stake in Callon Petroleum during the 3rd quarter worth approximately $46,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Callon Petroleum in the 2nd quarter valued at approximately $68,000. Cornerstone Investment Partners LLC raised 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 valued at $58,000 after purchasing an additional 2,544 shares in the last quarter. Finally, Signaturefd LLC raised 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 valued at $62,000 after purchasing an additional 6,246 shares in the last quarter.
About Callon Petroleum
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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