Equities research analysts forecast that Callon Petroleum (NYSE:CPE) will post sales of $169.71 million for the current fiscal quarter, according to Zacks. Eleven analysts have issued estimates for Callon Petroleum’s earnings, with the lowest sales estimate coming in at $160.19 million and the highest estimate coming in at $182.00 million. Callon Petroleum reported sales of $137.08 million in the same quarter last year, which indicates a positive year-over-year growth rate of 23.8%. The business is scheduled to issue its next earnings report on Monday, August 5th.
On average, analysts expect that Callon Petroleum will report full year sales of $680.97 million for the current year, with estimates ranging from $628.11 million to $719.10 million. For the next financial year, analysts anticipate that the firm will post sales of $839.08 million, with estimates ranging from $719.60 million to $932.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Callon Petroleum.
Callon Petroleum (NYSE:CPE) last released its earnings results on Monday, May 6th. The oil and natural gas company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. Callon Petroleum had a net margin of 36.70% and a return on equity of 7.55%. The company had revenue of $153.05 million for the quarter, compared to analysts’ expectations of $144.68 million. During the same quarter in the previous year, the company earned $0.27 EPS. Callon Petroleum’s revenue for the quarter was up 20.1% on a year-over-year basis.
A number of research analysts recently weighed in on CPE shares. Williams Capital restated a “buy” rating and set a $12.00 target price on shares of Callon Petroleum in a research note on Wednesday, February 27th. Morgan Stanley started coverage on shares of Callon Petroleum in a research note on Thursday, March 21st. They set an “equal weight” rating and a $9.00 target price on the stock. Capital One Financial upgraded shares of Callon Petroleum from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 23rd. Zacks Investment Research upgraded shares of Callon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Monday, March 18th. Finally, SunTrust Banks set a $12.00 target price on shares of Callon Petroleum and gave the company a “buy” rating in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $13.63.
A number of hedge funds have recently made changes to their positions in CPE. Rockefeller Capital Management L.P. lifted its stake in Callon Petroleum by 830.8% in the 1st quarter. Rockefeller Capital Management L.P. now owns 3,593 shares of the oil and natural gas company’s stock worth $27,000 after purchasing an additional 3,207 shares in the last quarter. Private Capital Group LLC lifted its stake in Callon Petroleum by 135.5% in the 1st quarter. Private Capital Group LLC now owns 4,164 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 2,396 shares in the last quarter. Cresset Asset Management LLC bought a new stake in shares of Callon Petroleum in the 1st quarter worth about $38,000. Cipher Capital LP bought a new stake in shares of Callon Petroleum in the 4th quarter worth about $72,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Callon Petroleum in the 4th quarter worth about $73,000.
Shares of CPE traded down $0.16 during trading hours on Wednesday, reaching $6.17. 6,563,042 shares of the stock traded hands, compared to its average volume of 6,304,857. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.53 and a current ratio of 0.53. Callon Petroleum has a 52-week low of $5.57 and a 52-week high of $13.09. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 7.52, a price-to-earnings-growth ratio of 0.64 and a beta of 1.54.
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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