Callon Petroleum Company (NYSE:CPE) – Investment analysts at Seaport Global Securities decreased their FY2017 earnings per share (EPS) estimates for shares of Callon Petroleum in a report issued on Tuesday. Seaport Global Securities analyst M. Kelly now expects that the oil and natural gas company will post earnings per share of $0.49 for the year, down from their previous forecast of $0.53. Seaport Global Securities has a “Neutral” rating and a $10.00 price objective on the stock. Seaport Global Securities also issued estimates for Callon Petroleum’s Q4 2017 earnings at $0.17 EPS and Q1 2018 earnings at $0.08 EPS.
Callon Petroleum (NYSE:CPE) last posted its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates 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 7.04% and a net margin of 40.58%. The firm’s quarterly revenue was up 82.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.61) EPS.
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CPE has been the subject of several other research reports. Credit Suisse Group restated an “outperform” rating and issued a $18.00 price target on shares of Callon Petroleum in a research note on Friday, June 2nd. Zacks Investment Research raised shares of Callon Petroleum from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Roth Capital set a $23.00 price objective on shares of Callon Petroleum and gave the stock a “buy” rating in a research report on Friday, May 26th. Citigroup Inc. decreased their price objective on shares of Callon Petroleum from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, July 13th. Finally, ValuEngine raised shares of Callon Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $17.79.
Shares of Callon Petroleum (NYSE CPE) opened at 10.42 on Thursday. Callon Petroleum has a 12-month low of $9.63 and a 12-month high of $18.53. The firm’s 50-day moving average price is $10.74 and its 200-day moving average price is $12.08. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 19.85 and a beta of 1.44.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Guggenheim Capital LLC raised its position in Callon Petroleum by 34.7% in the fourth quarter. Guggenheim Capital LLC now owns 38,171 shares of the oil and natural gas company’s stock worth $587,000 after buying an additional 9,824 shares in the last quarter. Norges Bank acquired a new position in Callon Petroleum during the fourth quarter worth approximately $18,261,000. Chesley Taft & Associates LLC acquired a new position in Callon Petroleum during the first quarter worth approximately $730,000. Bank of Montreal Can raised its position in Callon Petroleum by 52.0% in the first quarter. Bank of Montreal Can now owns 135,311 shares of the oil and natural gas company’s stock worth $1,781,000 after buying an additional 46,272 shares in the last quarter. Finally, First National Bank of Omaha raised its position in Callon Petroleum by 83.6% in the first quarter. First National Bank of Omaha now owns 91,410 shares of the oil and natural gas company’s stock worth $1,203,000 after buying an additional 41,625 shares in 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.
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