Q1 2018 EPS Estimates for Callon Petroleum Raised by SunTrust Banks (CPE)

Callon Petroleum (NYSE:CPE) – Equities researchers at SunTrust Banks lifted their Q1 2018 earnings estimates for Callon Petroleum in a research note issued to investors on Monday, April 16th. SunTrust Banks analyst N. Dingmann now expects that the oil and natural gas company will post earnings of $0.21 per share for the quarter, up from their prior estimate of $0.17. SunTrust Banks has a “Buy” rating and a $18.00 price target on the stock. SunTrust Banks also issued estimates for Callon Petroleum’s Q2 2018 earnings at $0.24 EPS and Q3 2018 earnings at $0.25 EPS.

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Callon Petroleum (NYSE:CPE) last issued its quarterly earnings results on Tuesday, February 27th. The oil and natural gas company reported $0.15 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.15. The company had revenue of $118.21 million during the quarter, compared to the consensus estimate of $109.95 million. Callon Petroleum had a return on equity of 5.02% and a net margin of 32.86%.

Several other brokerages also recently weighed in on CPE. Stifel Nicolaus set a $20.00 price target on Callon Petroleum and gave the company a “buy” rating in a report on Wednesday, March 28th. Citigroup downgraded Callon Petroleum from a “buy” rating to a “neutral” rating and set a $13.00 price target for the company. in a report on Wednesday, January 3rd. Mizuho set a $15.00 price target on Callon Petroleum and gave the company a “buy” rating in a report on Tuesday, January 16th. TheStreet upgraded Callon Petroleum from a “c+” rating to a “b-” rating in a report on Wednesday, April 4th. Finally, Piper Jaffray began coverage on Callon Petroleum in a report on Thursday, January 4th. They issued an “overweight” rating and a $15.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $16.42.

Shares of CPE opened at $13.27 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market capitalization of $2,649.45, a price-to-earnings ratio of 31.60 and a beta of 1.18. Callon Petroleum has a fifty-two week low of $9.34 and a fifty-two week high of $13.43.

Hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its stake in shares of Callon Petroleum by 8.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 482,244 shares of the oil and natural gas company’s stock valued at $5,859,000 after buying an additional 39,549 shares during the period. Glenmede Trust Co. NA grew its stake in shares of Callon Petroleum by 34.8% during the 4th quarter. Glenmede Trust Co. NA now owns 3,594,100 shares of the oil and natural gas company’s stock valued at $43,667,000 after buying an additional 927,463 shares during the period. Thrivent Financial For Lutherans grew its stake in shares of Callon Petroleum by 34.9% during the 4th quarter. Thrivent Financial For Lutherans now owns 1,446,211 shares of the oil and natural gas company’s stock valued at $17,572,000 after buying an additional 374,442 shares during the period. New York State Common Retirement Fund boosted its position in Callon Petroleum by 3.3% during the 3rd quarter. New York State Common Retirement Fund now owns 506,651 shares of the oil and natural gas company’s stock worth $5,695,000 after purchasing an additional 16,266 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Callon Petroleum during the 4th quarter worth $10,291,000.

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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.

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

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