Callon Petroleum (CPE) Expected to Post Quarterly Sales of $181.32 Million

Wall Street analysts expect that Callon Petroleum (NYSE:CPE) will report sales of $181.32 million for the current fiscal quarter, Zacks reports. Eleven analysts have issued estimates for Callon Petroleum’s earnings, with the lowest sales estimate coming in at $165.40 million and the highest estimate coming in at $199.00 million. Callon Petroleum reported sales of $118.21 million during the same quarter last year, which indicates a positive year over year growth rate of 53.4%. The firm is scheduled to issue its next earnings results on Tuesday, February 26th.

According to Zacks, analysts expect that Callon Petroleum will report full-year sales of $598.50 million for the current fiscal year, with estimates ranging from $559.00 million to $625.00 million. For the next fiscal year, analysts anticipate that the business will report sales of $805.55 million, with estimates ranging from $678.00 million to $929.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Callon Petroleum.

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

A number of equities research analysts have recently issued reports on CPE shares. TheStreet raised shares of Callon Petroleum from a “c+” rating to a “b-” rating in a report on Monday, September 17th. Zacks Investment Research reaffirmed a “hold” rating on shares of Callon Petroleum in a report on Monday, November 12th. ValuEngine raised shares of Callon Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, September 13th. Credit Suisse Group raised shares of Callon Petroleum from a “neutral” rating to an “outperform” rating and set a $14.00 target price for the company in a report on Monday, November 12th. Finally, Oppenheimer started coverage on shares of Callon Petroleum in a report on Wednesday, October 3rd. They set an “outperform” rating and a $16.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the stock. Callon Petroleum currently has a consensus rating of “Buy” and a consensus price target of $16.32.

Callon Petroleum stock opened at $8.88 on Tuesday. Callon Petroleum has a 52-week low of $8.50 and a 52-week high of $14.65. The firm has a market cap of $1.95 billion, a PE ratio of 21.14 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.

In other news, VP Mitzi P. Conn sold 15,000 shares of the business’s stock in a transaction dated 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 owns 42,062 shares of the company’s stock, valued at approximately $494,649.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.63% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Callon Petroleum by 2.9% during the 3rd quarter. BlackRock Inc. now owns 25,561,708 shares of the oil and natural gas company’s stock valued at $306,486,000 after acquiring an additional 731,444 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Callon Petroleum by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 20,395,498 shares of the oil and natural gas company’s stock valued at $244,542,000 after acquiring an additional 615,053 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Callon Petroleum by 4.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 18,044,276 shares of the oil and natural gas company’s stock valued at $216,351,000 after acquiring an additional 782,833 shares during the last quarter. Luminus Management LLC boosted its position in shares of Callon Petroleum by 65.4% during the 2nd quarter. Luminus Management LLC now owns 6,620,618 shares of the oil and natural gas company’s stock valued at $71,105,000 after acquiring an additional 2,618,965 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Callon Petroleum by 9.5% during the 2nd quarter. Northern Trust Corp now owns 6,307,427 shares of the oil and natural gas company’s stock valued at $67,741,000 after acquiring an additional 545,225 shares during the last quarter.

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

Featured Story: How is the LIBOR rate calculated?

Get a free copy of the Zacks research report on Callon Petroleum (CPE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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 reddit