Callon Petroleum (CPE) Expected to Announce Earnings of $0.25 Per Share

Analysts expect Callon Petroleum (NYSE:CPE) to announce earnings per share (EPS) of $0.25 for the current fiscal quarter, Zacks reports. Eleven analysts have issued estimates for Callon Petroleum’s earnings. The lowest EPS estimate is $0.18 and the highest is $0.32. Callon Petroleum reported earnings of $0.15 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 66.7%. The business is scheduled to issue its next quarterly earnings report on Tuesday, February 26th.

According to Zacks, analysts expect that Callon Petroleum will report full-year earnings of $0.88 per share for the current year, with EPS estimates ranging from $0.80 to $0.93. For the next fiscal year, analysts forecast that the company will report earnings of $1.24 per share, with EPS estimates ranging from $0.95 to $1.48. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Callon Petroleum.

Callon Petroleum (NYSE:CPE) last issued its quarterly earnings data on Tuesday, November 6th. The oil and natural gas company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. The business had revenue of $161.21 million during the quarter, compared to analysts’ expectations of $145.66 million. Callon Petroleum had a net margin of 30.70% and a return on equity of 8.31%. The business’s revenue was up 90.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.09 EPS.

CPE has been the topic of a number of research reports. Oppenheimer initiated coverage on shares of Callon Petroleum in a report on Wednesday, October 3rd. They set an “outperform” rating and a $16.00 target price on the stock. ValuEngine raised shares of Callon Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, September 13th. TheStreet upgraded shares of Callon Petroleum from a “c+” rating to a “b-” rating in a research report on Monday, September 17th. Piper Jaffray Companies reiterated a “buy” rating and set a $20.00 target price on shares of Callon Petroleum in a research report on Sunday, August 12th. Finally, Barclays started coverage on shares of Callon Petroleum in a report on Wednesday, August 29th. They set an “overweight” rating and a $14.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $16.32.

Shares of NYSE:CPE opened at $8.55 on Friday. The company has a market capitalization of $1.95 billion, a PE ratio of 20.36 and a beta of 1.06. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.46. Callon Petroleum has a 12 month low of $8.50 and a 12 month high of $14.65.

In other Callon Petroleum news, VP Mitzi P. Conn sold 15,000 shares of Callon Petroleum stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $11.76, for a total transaction of $176,400.00. Following the transaction, the vice president now directly owns 42,062 shares of the company’s stock, valued at $494,649.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.82% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. First Hawaiian Bank purchased a new position in shares of Callon Petroleum during the third quarter worth approximately $107,000. Strs Ohio raised its stake in shares of Callon Petroleum by 139.0% during the third quarter. Strs Ohio now owns 9,800 shares of the oil and natural gas company’s stock worth $117,000 after acquiring an additional 5,700 shares in the last quarter. MML Investors Services LLC purchased a new position in shares of Callon Petroleum during the third quarter worth approximately $144,000. Marietta Investment Partners LLC purchased a new position in shares of Callon Petroleum during the second quarter worth approximately $153,000. Finally, HPM Partners LLC purchased a new position in shares of Callon Petroleum during the second quarter worth approximately $161,000.

About Callon Petroleum

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. As of December 31, 2017, its estimated net proved reserves totaled 137.0 million barrel of oil equivalent.

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