Callon Petroleum (NYSE:CPE) Expected to Post Earnings of $0.20 Per Share

Equities research analysts expect Callon Petroleum (NYSE:CPE) to report $0.20 earnings per share for the current quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Callon Petroleum’s earnings, with the highest EPS estimate coming in at $0.23 and the lowest estimate coming in at $0.18. Callon Petroleum reported earnings per share of $0.21 during the same quarter last year, which would indicate a negative year over year growth rate of 4.8%. The company is expected to issue its next earnings report on Tuesday, November 5th.

On average, analysts expect that Callon Petroleum will report full year earnings of $0.78 per share for the current year, with EPS estimates ranging from $0.74 to $0.82. For the next financial year, analysts expect that the business will post earnings of $1.10 per share, with EPS estimates ranging from $0.86 to $1.26. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Callon Petroleum.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. Callon Petroleum had a return on equity of 7.57% and a net margin of 35.72%. The business had revenue of $167.05 million for the quarter, compared to the consensus estimate of $163.05 million. During the same quarter in the prior year, the company earned $0.23 EPS. The business’s revenue was up 21.9% compared to the same quarter last year.

A number of equities analysts have recently issued reports on the company. Imperial Capital dropped their price target on Callon Petroleum from $16.00 to $11.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 16th. Barclays raised Callon Petroleum from an “equal weight” rating to an “overweight” rating and set a $9.00 price target on the stock in a research report on Monday, July 1st. SunTrust Banks set a $12.00 price target on Callon Petroleum and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Williams Capital dropped their price objective on Callon Petroleum from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, July 16th. Finally, Capital One Financial raised Callon Petroleum from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Callon Petroleum presently has an average rating of “Buy” and a consensus target price of $11.89.

A number of institutional investors have recently added to or reduced their stakes in CPE. D. E. Shaw & Co. Inc. purchased a new position in shares of Callon Petroleum in the 4th quarter worth $571,000. Legal & General Group Plc lifted its stake in Callon Petroleum by 11.8% in the fourth quarter. Legal & General Group Plc now owns 245,365 shares of the oil and natural gas company’s stock worth $1,592,000 after acquiring an additional 25,869 shares during the period. Norges Bank purchased a new stake in Callon Petroleum in the fourth quarter worth $6,803,000. Geode Capital Management LLC lifted its stake in Callon Petroleum by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 2,432,225 shares of the oil and natural gas company’s stock worth $15,785,000 after acquiring an additional 192,920 shares during the period. Finally, Virtu Financial LLC purchased a new stake in Callon Petroleum in the first quarter worth $178,000.

Shares of CPE traded up $0.19 during midday trading on Friday, reaching $4.48. 642,264 shares of the stock were exchanged, compared to its average volume of 18,021,328. Callon Petroleum has a 52 week low of $4.08 and a 52 week high of $13.09. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.44. The company’s 50 day moving average is $5.43 and its two-hundred day moving average is $6.89. The company has a market capitalization of $1.04 billion, a P/E ratio of 5.33, a PEG ratio of 0.54 and a beta of 1.44.

Callon Petroleum Company Profile

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

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