Callon Petroleum Expected to Post FY2018 Earnings of $0.87 Per Share (CPE)

Callon Petroleum (NYSE:CPE) – Research analysts at Piper Jaffray Companies lowered their FY2018 earnings per share estimates for shares of Callon Petroleum in a research note issued to investors on Wednesday, January 9th. Piper Jaffray Companies analyst K. Harrison now anticipates that the oil and natural gas company will post earnings per share of $0.87 for the year, down from their previous estimate of $0.92. Piper Jaffray Companies also issued estimates for Callon Petroleum’s Q4 2018 earnings at $0.25 EPS, FY2019 earnings at $0.92 EPS, Q1 2020 earnings at $0.28 EPS, Q2 2020 earnings at $0.29 EPS, Q3 2020 earnings at $0.31 EPS, Q4 2020 earnings at $0.33 EPS and FY2020 earnings at $1.21 EPS.

CPE has been the subject of a number of other reports. TheStreet downgraded Callon Petroleum from a “b-” rating to a “c+” rating in a research note on Tuesday, November 27th. Bank of America decreased their price target on Callon Petroleum from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, November 8th. Williams Capital set a $16.00 price target on Callon Petroleum and gave the company a “buy” rating in a research note on Wednesday, November 7th. Capital One Financial upgraded Callon Petroleum from an “equal weight” rating to an “overweight” rating in a research note on Wednesday. Finally, Stephens began coverage on Callon Petroleum in a research note on Thursday, December 6th. They issued an “overweight” rating and a $14.00 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $15.42.

CPE stock opened at $8.49 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 0.22 and a beta of 1.32. Callon Petroleum has a twelve month low of $5.57 and a twelve month high of $14.65.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. First Hawaiian Bank bought a new position in shares of Callon Petroleum during the 3rd quarter worth approximately $107,000. Strs Ohio boosted its stake in shares of Callon Petroleum by 139.0% during the 3rd 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 during the period. MML Investors Services LLC bought a new position in shares of Callon Petroleum during the 3rd quarter worth approximately $144,000. HPM Partners LLC bought a new position in shares of Callon Petroleum during the 2nd quarter worth approximately $161,000. Finally, Engineers Gate Manager LP bought a new position in shares of Callon Petroleum during the 3rd quarter worth approximately $199,000.

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.

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

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