Brokerages predict that Callon Petroleum (NYSE:CPE) will report earnings of $0.20 per share for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for Callon Petroleum’s earnings. The highest EPS estimate is $0.24 and the lowest is $0.17. Callon Petroleum reported earnings of $0.17 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 17.6%. The business is scheduled to issue its next earnings report 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 fiscal year, with EPS estimates ranging from $0.69 to $0.77. For the next year, analysts expect that the firm will post earnings of $1.02 per share, with EPS estimates ranging from $0.85 to $1.21. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Callon Petroleum.
Callon Petroleum (NYSE:CPE) last released its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $0.19 earnings per share for the quarter, beating the 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 company had revenue of $155.38 million during the quarter, compared to analyst estimates of $152.61 million. During the same quarter in the previous year, the business posted $0.21 EPS. Callon Petroleum’s revenue for the quarter was down 3.6% compared to the same quarter last year.
Several equities analysts have weighed in on the stock. Williams Capital set a $8.00 price target on shares of Callon Petroleum and gave the company a “buy” rating in a report on Monday, October 21st. ValuEngine upgraded Callon Petroleum from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Johnson Rice downgraded shares of Callon Petroleum from a “buy” rating to an “accumulate” rating in a report on Tuesday, November 19th. Morgan Stanley lowered their target price on shares of Callon Petroleum from $6.25 to $4.75 and set an “equal weight” rating for the company in a research note on Friday, October 4th. Finally, Northland Securities reissued a “buy” rating and set a $7.00 target price on shares of Callon Petroleum in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. Callon Petroleum has a consensus rating of “Buy” and a consensus target price of $9.63.
A number of large investors have recently made changes to their positions in the business. Macquarie Group Ltd. lifted its stake in shares of Callon Petroleum by 1,098.7% in the 2nd quarter. Macquarie Group Ltd. now owns 7,230,540 shares of the oil and natural gas company’s stock valued at $47,649,000 after purchasing an additional 6,627,337 shares during the period. Morgan Stanley lifted its holdings in shares of Callon Petroleum by 212.7% in the 2nd quarter. Morgan Stanley now owns 3,999,820 shares of the oil and natural gas company’s stock worth $26,359,000 after acquiring an additional 2,720,650 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Callon Petroleum by 5,662.1% during the 2nd quarter. AQR Capital Management LLC now owns 2,507,367 shares of the oil and natural gas company’s stock worth $16,273,000 after purchasing an additional 2,463,852 shares during the period. State Street Corp boosted its stake in shares of Callon Petroleum by 14.3% during the 3rd quarter. State Street Corp now owns 15,652,532 shares of the oil and natural gas company’s stock worth $67,932,000 after purchasing an additional 1,960,860 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in Callon Petroleum by 44.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 5,342,720 shares of the oil and natural gas company’s stock valued at $35,208,000 after purchasing an additional 1,647,886 shares during the last quarter.
Shares of NYSE:CPE traded down $0.07 during mid-day trading on Tuesday, reaching $3.64. 530,450 shares of the company traded hands, compared to its average volume of 20,578,438. The company’s 50 day moving average price is $4.01 and its 200-day moving average price is $5.03. The firm has a market cap of $833.61 million, a PE ratio of 4.45, a PEG ratio of 0.28 and a beta of 1.50. Callon Petroleum has a 52 week low of $3.51 and a 52 week high of $9.19. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.55 and a quick ratio of 0.55.
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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