$553.95 Million in Sales Expected for Callon Petroleum (NYSE:CPE) This Quarter

Analysts predict that Callon Petroleum (NYSE:CPE) will announce $553.95 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Callon Petroleum’s earnings. The lowest sales estimate is $479.85 million and the highest is $687.00 million. Callon Petroleum reported sales of $295.97 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 87.2%. The firm is scheduled to report its next quarterly earnings results on Wednesday, February 23rd.

According to Zacks, analysts expect that Callon Petroleum will report full year sales of $1.78 billion for the current year, with estimates ranging from $1.48 billion to $2.04 billion. For the next year, analysts forecast that the company will post sales of $2.14 billion, with estimates ranging from $2.00 billion to $2.38 billion. Zacks’ sales calculations are an average based on a survey of research analysts that follow Callon Petroleum.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings data on Wednesday, November 3rd. The oil and natural gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.44. The business had revenue of $552.56 million for the quarter, compared to analyst estimates of $418.44 million. Callon Petroleum had a positive return on equity of 40.51% and a negative net margin of 25.79%. During the same quarter last year, the company earned $0.64 earnings per share.

A number of research analysts have recently commented on CPE shares. TheStreet raised shares of Callon Petroleum from a “d” rating to a “c-” rating in a research note on Wednesday, November 3rd. Morgan Stanley increased their price target on shares of Callon Petroleum from $55.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Friday, November 19th. Wells Fargo & Company raised shares of Callon Petroleum from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $50.00 to $75.00 in a research note on Friday, November 19th. Royal Bank of Canada increased their price target on shares of Callon Petroleum from $66.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 9th. Finally, MKM Partners increased their price objective on shares of Callon Petroleum from $69.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, November 11th. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $56.56.

Shares of CPE traded up $3.48 during trading hours on Friday, reaching $61.66. 1,860,960 shares of the company traded hands, compared to its average volume of 2,223,204. The stock has a fifty day simple moving average of $53.11 and a 200 day simple moving average of $45.39. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 3.01. Callon Petroleum has a fifty-two week low of $9.35 and a fifty-two week high of $65.45. The stock has a market capitalization of $3.44 billion, a PE ratio of -5.51 and a beta of 3.06.

In other news, Director S P. Iv Johnson sold 1,200 shares of the stock in a transaction on Monday, October 18th. The stock was sold at an average price of $53.73, for a total value of $64,476.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 3,600 shares of company stock valued at $177,696 in the last quarter. Insiders own 2.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CPE. BlackRock Inc. increased its position in Callon Petroleum by 28.8% during the second quarter. BlackRock Inc. now owns 6,867,533 shares of the oil and natural gas company’s stock worth $396,189,000 after buying an additional 1,535,793 shares during the last quarter. Kimmeridge Energy Management Company LLC increased its position in Callon Petroleum by 10.8% during the third quarter. Kimmeridge Energy Management Company LLC now owns 6,188,157 shares of the oil and natural gas company’s stock worth $303,715,000 after buying an additional 602,503 shares during the last quarter. Vanguard Group Inc. increased its position in Callon Petroleum by 19.5% during the second quarter. Vanguard Group Inc. now owns 3,432,057 shares of the oil and natural gas company’s stock worth $197,995,000 after buying an additional 558,934 shares during the last quarter. Geode Capital Management LLC increased its position in Callon Petroleum by 89.7% during the second quarter. Geode Capital Management LLC now owns 710,315 shares of the oil and natural gas company’s stock worth $40,978,000 after buying an additional 335,895 shares during the last quarter. Finally, Northern Trust Corp increased its position in Callon Petroleum by 209.3% during the second quarter. Northern Trust Corp now owns 480,335 shares of the oil and natural gas company’s stock worth $27,711,000 after buying an additional 325,017 shares during the last quarter. 81.11% of the stock is currently owned by institutional investors and hedge funds.

About Callon Petroleum

Callon Petroleum Co engages in the exploration, development, acquisition and production of oil and natural gas properties in the United States. It focuses on unconventional oil and natural gas reserves in the Permian Basin. The company was founded by Sim C. Callon and John S. Callon in 1950 and is headquartered in Houston, TX.

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Earnings History and Estimates for Callon Petroleum (NYSE:CPE)

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