Callon Petroleum to Post FY2018 Earnings of $0.86 Per Share, Seaport Global Securities Forecasts (CPE)

Callon Petroleum (NYSE:CPE) – Stock analysts at Seaport Global Securities decreased their FY2018 earnings estimates for shares of Callon Petroleum in a research report issued to clients and investors on Tuesday, October 16th. Seaport Global Securities analyst M. Kelly now forecasts that the oil and natural gas company will earn $0.86 per share for the year, down from their previous estimate of $0.88. Seaport Global Securities also issued estimates for Callon Petroleum’s Q4 2018 earnings at $0.23 EPS, Q3 2019 earnings at $0.36 EPS and Q4 2019 earnings at $0.39 EPS.

A number of other brokerages have also recently commented on CPE. Oppenheimer began coverage on Callon Petroleum in a research note on Wednesday, October 3rd. They issued an “outperform” rating and a $16.00 price objective for the company. ValuEngine raised Callon Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, September 13th. TheStreet raised Callon Petroleum from a “c+” rating to a “b-” rating in a research note on Monday, September 17th. Piper Jaffray Companies restated a “buy” rating and issued a $20.00 target price on shares of Callon Petroleum in a report on Sunday, August 12th. Finally, Stephens set a $20.00 target price on Callon Petroleum and gave the company a “buy” rating in a report on Wednesday, July 25th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $16.11.

Shares of Callon Petroleum stock opened at $12.60 on Wednesday. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.44. Callon Petroleum has a 52 week low of $9.75 and a 52 week high of $14.65. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 30.00 and a beta of 1.02.

Callon Petroleum (NYSE:CPE) last announced its quarterly earnings data on Monday, August 6th. The oil and natural gas company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.01). Callon Petroleum had a net margin of 31.27% and a return on equity of 7.25%. The firm had revenue of $137.10 million during the quarter, compared to analyst estimates of $133.66 million. During the same period last year, the business posted $0.09 EPS. The company’s revenue was up 66.6% on a year-over-year basis.

In other news, VP Mitzi P. Conn sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $11.76, for a total value of $176,400.00. Following the transaction, the vice president now owns 42,062 shares in the company, valued at $494,649.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.63% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of CPE. PNC Financial Services Group Inc. lifted its holdings in Callon Petroleum by 31.2% during the first quarter. PNC Financial Services Group Inc. now owns 28,188 shares of the oil and natural gas company’s stock worth $373,000 after acquiring an additional 6,704 shares during the period. Sei Investments Co. lifted its holdings in Callon Petroleum by 55.1% during the first quarter. Sei Investments Co. now owns 47,493 shares of the oil and natural gas company’s stock worth $628,000 after acquiring an additional 16,876 shares during the period. Principal Financial Group Inc. lifted its holdings in Callon Petroleum by 2.7% during the first quarter. Principal Financial Group Inc. now owns 875,735 shares of the oil and natural gas company’s stock worth $11,594,000 after acquiring an additional 23,399 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its holdings in Callon Petroleum by 56.2% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 41,299 shares of the oil and natural gas company’s stock worth $547,000 after acquiring an additional 14,865 shares during the period. Finally, UBS Group AG lifted its holdings in Callon Petroleum by 59.3% during the first quarter. UBS Group AG now owns 299,612 shares of the oil and natural gas company’s stock worth $3,967,000 after acquiring an additional 111,533 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. 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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