Callon Petroleum (NYSE:CPE) – Research analysts at Truist Securiti decreased their Q3 2020 earnings per share estimates for Callon Petroleum in a note issued to investors on Tuesday, October 13th. Truist Securiti analyst N. Dingmann now expects that the oil and natural gas company will earn $0.58 per share for the quarter, down from their previous estimate of $1.10. Truist Securiti also issued estimates for Callon Petroleum’s FY2020 earnings at $2.97 EPS, Q1 2021 earnings at $0.58 EPS, Q2 2021 earnings at $0.73 EPS, Q4 2021 earnings at $0.90 EPS and FY2021 earnings at $3.16 EPS.
Several other research analysts also recently commented on the stock. Northland Securities reissued a “hold” rating and issued a $1.00 price target on shares of Callon Petroleum in a report on Monday, July 27th. Siebert Williams Shank reaffirmed a “sell” rating and set a $9.00 price objective on shares of Callon Petroleum in a report on Wednesday, August 26th. Morgan Stanley lifted their price objective on shares of Callon Petroleum from $7.50 to $8.00 and gave the stock an “equal weight” rating in a report on Friday, August 21st. Royal Bank of Canada dropped their price objective on shares of Callon Petroleum to $18.00 and set an “outperform” rating for the company in a report on Friday, October 2nd. Finally, Barclays lifted their price objective on shares of Callon Petroleum to $5.00 and gave the stock an “underweight” rating in a report on Monday, August 17th. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. Callon Petroleum has a consensus rating of “Hold” and an average target price of $5.95.
Shares of NYSE:CPE opened at $4.67 on Friday. The firm has a fifty day moving average price of $5.54 and a two-hundred day moving average price of $2.73. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.34 and a quick ratio of 0.34. Callon Petroleum has a one year low of $3.80 and a one year high of $49.80. The company has a market cap of $185.62 million, a price-to-earnings ratio of -0.14 and a beta of 2.93.
Callon Petroleum (NYSE:CPE) last announced its quarterly earnings results on Tuesday, August 4th. The oil and natural gas company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.03. Callon Petroleum had a negative net margin of 164.77% and a positive return on equity of 5.70%. The firm had revenue of $157.23 million during the quarter, compared to the consensus estimate of $201.53 million.
A number of large investors have recently modified their holdings of CPE. WFA of San Diego LLC purchased a new position in shares of Callon Petroleum in the second quarter valued at about $67,000. Atom Investors LP purchased a new position in shares of Callon Petroleum in the second quarter valued at about $37,000. Sigma Planning Corp increased its position in shares of Callon Petroleum by 38.6% in the second quarter. Sigma Planning Corp now owns 32,771 shares of the oil and natural gas company’s stock valued at $38,000 after acquiring an additional 9,131 shares during the period. Teza Capital Management LLC purchased a new position in shares of Callon Petroleum in the second quarter valued at about $44,000. Finally, Two Sigma Securities LLC increased its position in shares of Callon Petroleum by 42.3% in the first quarter. Two Sigma Securities LLC now owns 49,840 shares of the oil and natural gas company’s stock valued at $27,000 after acquiring an additional 14,808 shares during the period.
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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