Research Analysts Set Expectations for Callon Petroleum’s Q3 2018 Earnings (CPE)

Callon Petroleum (NYSE:CPE) – Research analysts at Capital One Financial cut their Q3 2018 earnings estimates for Callon Petroleum in a research report issued to clients and investors on Monday, October 15th. Capital One Financial analyst P. Johnston now anticipates that the oil and natural gas company will post earnings of $0.19 per share for the quarter, down from their prior estimate of $0.20.

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

Other analysts have also issued research reports about the stock. KLR Group restated a “buy” rating and set a $16.00 price target on shares of Callon Petroleum in a research report on Monday, August 20th. Stephens set a $20.00 target price on shares of Callon Petroleum and gave the company a “buy” rating in a research report on Wednesday, July 25th. Piper Jaffray Companies reiterated a “buy” rating and issued a $20.00 target price on shares of Callon Petroleum in a research report on Sunday, August 12th. ValuEngine upgraded shares of Callon Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, June 22nd. Finally, Barclays began coverage on shares of Callon Petroleum in a research report on Wednesday, August 29th. They issued an “overweight” rating and a $14.00 target price on the stock. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $16.11.

CPE stock opened at $12.17 on Tuesday. The firm has a market cap of $2.73 billion, a P/E ratio of 28.98 and a beta of 1.02. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 0.44. Callon Petroleum has a one year low of $9.75 and a one year high of $14.65.

In other news, VP Mitzi P. Conn sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $11.76, for a total value of $176,400.00. Following the transaction, the vice president now directly owns 42,062 shares of the company’s stock, valued at $494,649.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.63% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new position in shares of Callon Petroleum in the second quarter worth about $13,964,000. Sei Investments Co. lifted its stake in shares of Callon Petroleum by 40.0% in the second quarter. Sei Investments Co. now owns 66,486 shares of the oil and natural gas company’s stock worth $714,000 after buying an additional 18,993 shares in the last quarter. US Bancorp DE lifted its stake in shares of Callon Petroleum by 28.9% in the second quarter. US Bancorp DE now owns 171,548 shares of the oil and natural gas company’s stock worth $1,842,000 after buying an additional 38,507 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Callon Petroleum in the second quarter worth about $1,608,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Callon Petroleum by 2.7% in 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 buying an additional 23,399 shares in 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.

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

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