Seaport Global Securities Analysts Increase Earnings Estimates for Callon Petroleum (CPE)

Callon Petroleum (NYSE:CPE) – Analysts at Seaport Global Securities upped their Q1 2018 earnings per share (EPS) estimates for Callon Petroleum in a research report issued on Tuesday. Seaport Global Securities analyst M. Kelly now forecasts that the oil and natural gas company will earn $0.15 per share for the quarter, up from their previous estimate of $0.09. Seaport Global Securities also issued estimates for Callon Petroleum’s Q4 2018 earnings at $0.19 EPS.

Callon Petroleum (NYSE:CPE) last announced its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). The company had revenue of $84.60 million during the quarter, compared to the consensus estimate of $81.98 million. Callon Petroleum had a return on equity of 4.05% and a net margin of 30.20%. The company’s revenue for the quarter was up 51.3% on a year-over-year basis. During the same period last year, the business posted $0.09 EPS.

Other analysts also recently issued research reports about the company. BMO Capital Markets reaffirmed a “buy” rating and set a $15.00 target price on shares of Callon Petroleum in a research note on Wednesday, September 6th. Royal Bank of Canada set a $16.00 target price on Callon Petroleum and gave the company a “buy” rating in a research note on Thursday, August 24th. Bank of America began coverage on Callon Petroleum in a research note on Monday, October 16th. They set a “buy” rating on the stock. Scotiabank set a $16.00 target price on Callon Petroleum and gave the company a “buy” rating in a research note on Saturday, November 25th. Finally, Northland Securities reaffirmed a “buy” rating and set a $18.00 target price on shares of Callon Petroleum in a research note on Wednesday, November 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $16.77.

Shares of Callon Petroleum (CPE) traded up $0.68 during midday trading on Wednesday, hitting $11.88. The company had a trading volume of 5,449,900 shares, compared to its average volume of 4,948,263. The company has a market cap of $2,260.56, a P/E ratio of 31.11 and a beta of 1.33. Callon Petroleum has a 1-year low of $9.34 and a 1-year high of $16.32. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.32.

Hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of Callon Petroleum by 180.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,185,506 shares of the oil and natural gas company’s stock worth $76,238,000 after acquiring an additional 4,622,758 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Callon Petroleum by 372.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,604,306 shares of the oil and natural gas company’s stock worth $40,514,000 after acquiring an additional 2,841,680 shares during the last quarter. Caymus Capital Partners L.P. grew its holdings in shares of Callon Petroleum by 81.5% in the 2nd quarter. Caymus Capital Partners L.P. now owns 4,863,500 shares of the oil and natural gas company’s stock worth $51,602,000 after acquiring an additional 2,184,500 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Callon Petroleum by 56.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,878,010 shares of the oil and natural gas company’s stock worth $54,829,000 after acquiring an additional 1,762,472 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in shares of Callon Petroleum by 61.0% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 4,631,425 shares of the oil and natural gas company’s stock worth $52,057,000 after acquiring an additional 1,755,125 shares during the last quarter.

WARNING: This piece was first published by Community Financial News and is owned by of Community Financial News. If you are accessing this piece on another domain, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The original version of this piece can be viewed at https://www.com-unik.info/2017/12/22/seaport-global-securities-analysts-increase-earnings-estimates-for-callon-petroleum-cpe.html.

Callon Petroleum Company Profile

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)

Receive News & Ratings for Callon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit