Callon Petroleum Company to Post Q3 2017 Earnings of $0.14 Per Share, Jefferies Group Forecasts (CPE)

Callon Petroleum Company (NYSE:CPE) – Analysts at Jefferies Group issued their Q3 2017 earnings per share estimates for shares of Callon Petroleum in a research note issued on Monday. Jefferies Group analyst M. Lear anticipates that the oil and natural gas company will post earnings of $0.14 per share for the quarter. Jefferies Group currently has a “Buy” rating and a $16.00 target price on the stock. Jefferies Group also issued estimates for Callon Petroleum’s Q4 2017 earnings at $0.18 EPS, FY2017 earnings at $0.58 EPS, Q1 2018 earnings at $0.14 EPS, Q2 2018 earnings at $0.16 EPS, Q3 2018 earnings at $0.20 EPS, Q4 2018 earnings at $0.22 EPS, FY2018 earnings at $0.72 EPS and FY2019 earnings at $1.17 EPS.

Several other brokerages have also commented on CPE. Seaport Global Securities lowered shares of Callon Petroleum from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $19.00 to $10.00 in a report on Wednesday, June 21st. Citigroup Inc. reduced their target price on shares of Callon Petroleum from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Zacks Investment Research lowered shares of Callon Petroleum from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Tudor Pickering started coverage on shares of Callon Petroleum in a report on Tuesday, June 20th. They set a “buy” rating and a $26.00 target price on the stock. Finally, BidaskClub upgraded shares of Callon Petroleum from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $17.50.

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Callon Petroleum (NYSE:CPE) opened at 11.31 on Wednesday. Callon Petroleum has a 12 month low of $9.34 and a 12 month high of $18.53. The stock’s 50 day moving average is $10.75 and its 200-day moving average is $11.24. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 21.54 and a beta of 1.43.

Callon Petroleum (NYSE:CPE) last issued its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.02). The company had revenue of $82.30 million for the quarter, compared to analysts’ expectations of $83.89 million. Callon Petroleum had a return on equity of 4.16% and a net margin of 34.61%. The business’s revenue was up 82.5% compared to the same quarter last year. During the same period last year, the business posted ($0.61) earnings per share.

A number of institutional investors have recently modified their holdings of the business. ETRADE Capital Management LLC grew its position in Callon Petroleum by 0.6% during the 2nd quarter. ETRADE Capital Management LLC now owns 42,015 shares of the oil and natural gas company’s stock worth $446,000 after purchasing an additional 239 shares during the last quarter. Hodges Capital Management Inc. grew its position in Callon Petroleum by 0.5% during the 2nd quarter. Hodges Capital Management Inc. now owns 61,300 shares of the oil and natural gas company’s stock worth $650,000 after purchasing an additional 300 shares during the last quarter. Teacher Retirement System of Texas grew its position in Callon Petroleum by 2.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 16,367 shares of the oil and natural gas company’s stock worth $174,000 after purchasing an additional 317 shares during the last quarter. United Capital Financial Advisers LLC grew its position in Callon Petroleum by 0.5% during the 1st quarter. United Capital Financial Advisers LLC now owns 75,065 shares of the oil and natural gas company’s stock worth $988,000 after purchasing an additional 380 shares during the last quarter. Finally, Blair William & Co. IL grew its position in Callon Petroleum by 2.6% during the 2nd quarter. Blair William & Co. IL now owns 26,138 shares of the oil and natural gas company’s stock worth $277,000 after purchasing an additional 670 shares during the last quarter.

About Callon Petroleum

Callon Petroleum Company is an independent oil and natural gas company. The Company is engaged in the exploration, development, acquisition and production of oil and natural gas properties. The Company focuses on the acquisition and development of unconventional oil and natural gas reserves in the Permian Basin.

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

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