Callon Petroleum to Post Q2 2020 Earnings of $0.25 Per Share, SunTrust Banks Forecasts (NYSE:CPE)

Callon Petroleum (NYSE:CPE) – Equities researchers at SunTrust Banks lowered their Q2 2020 earnings estimates for shares of Callon Petroleum in a research note issued on Wednesday, October 16th. SunTrust Banks analyst N. Dingmann now anticipates that the oil and natural gas company will earn $0.25 per share for the quarter, down from their prior forecast of $0.26. SunTrust Banks also issued estimates for Callon Petroleum’s Q3 2020 earnings at $0.28 EPS, Q4 2020 earnings at $0.30 EPS, Q1 2021 earnings at $0.28 EPS, Q2 2021 earnings at $0.30 EPS and FY2021 earnings at $1.26 EPS.

Callon Petroleum (NYSE:CPE) last announced its quarterly earnings data on Tuesday, August 6th. The oil and natural gas company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. Callon Petroleum had a return on equity of 7.57% and a net margin of 35.72%. The business had revenue of $167.05 million during the quarter, compared to analyst estimates of $163.05 million. During the same period in the prior year, the company earned $0.23 earnings per share. Callon Petroleum’s revenue was up 21.9% compared to the same quarter last year.

Several other brokerages have also weighed in on CPE. Jefferies Financial Group lowered Callon Petroleum from a “buy” rating to a “hold” rating and set a $11.00 price objective for the company. in a report on Monday, July 15th. ValuEngine raised Callon Petroleum from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Northland Securities reaffirmed a “buy” rating and issued a $10.00 price target on shares of Callon Petroleum in a report on Wednesday, August 7th. Morgan Stanley cut their price target on Callon Petroleum from $6.25 to $4.75 and set an “equal weight” rating for the company in a report on Friday, October 4th. Finally, Williams Capital cut their price target on Callon Petroleum from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $10.83.

Shares of NYSE CPE opened at $3.81 on Monday. The stock has a fifty day simple moving average of $4.22 and a two-hundred day simple moving average of $5.78. Callon Petroleum has a 1-year low of $3.68 and a 1-year high of $11.47. The firm has a market cap of $872.43 million, a price-to-earnings ratio of 4.65, a price-to-earnings-growth ratio of 0.48 and a beta of 1.42. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.44.

Several institutional investors have recently bought and sold shares of CPE. First National Bank of Omaha boosted its holdings in shares of Callon Petroleum by 11.6% in the second quarter. First National Bank of Omaha now owns 181,403 shares of the oil and natural gas company’s stock worth $1,195,000 after acquiring an additional 18,839 shares during the period. Tributary Capital Management LLC boosted its stake in Callon Petroleum by 6.7% during the second quarter. Tributary Capital Management LLC now owns 2,238,659 shares of the oil and natural gas company’s stock valued at $14,753,000 after buying an additional 140,613 shares during the period. CWM Advisors LLC boosted its stake in Callon Petroleum by 29.3% during the second quarter. CWM Advisors LLC now owns 26,455 shares of the oil and natural gas company’s stock valued at $174,000 after buying an additional 5,995 shares during the period. Moody Aldrich Partners LLC boosted its stake in Callon Petroleum by 52.9% during the second quarter. Moody Aldrich Partners LLC now owns 576,267 shares of the oil and natural gas company’s stock valued at $3,798,000 after buying an additional 199,346 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Callon Petroleum by 0.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 540,255 shares of the oil and natural gas company’s stock valued at $3,560,000 after buying an additional 2,323 shares during the period.

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 and southeastern New Mexico. As of December 31, 2018, its estimated net proved reserves totaled 238.5 million barrel of oil equivalent, including 180.1 MMBbls of oil and 350.5 Bcf of natural gas.

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

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