Wall Street brokerages expect that Callon Petroleum (NYSE:CPE) will report earnings per share (EPS) of $0.20 for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Callon Petroleum’s earnings, with the lowest EPS estimate coming in at $0.18 and the highest estimate coming in at $0.23. Callon Petroleum posted earnings per share of $0.21 during the same quarter last year, which would indicate a negative year-over-year growth rate of 4.8%. The business is expected to announce its next earnings report on Tuesday, November 5th.
According to Zacks, analysts expect that Callon Petroleum will report full-year earnings of $0.77 per share for the current fiscal year, with EPS estimates ranging from $0.74 to $0.82. For the next year, analysts forecast that the firm will report earnings of $1.10 per share, with EPS estimates ranging from $0.86 to $1.26. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Callon Petroleum.
Callon Petroleum (NYSE:CPE) last released its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $167.05 million during the quarter, compared to analyst estimates of $163.05 million. Callon Petroleum had a return on equity of 7.57% and a net margin of 35.72%. Callon Petroleum’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.23 EPS.
A number of research analysts have issued reports on CPE shares. Imperial Capital reduced their price objective on Callon Petroleum from $16.00 to $11.00 and set an “in-line” rating for the company in a research note on Tuesday, July 16th. Evercore ISI restated a “hold” rating and issued a $12.00 price objective on shares of Callon Petroleum in a research note on Thursday, August 8th. Stephens set a $11.00 price objective on Callon Petroleum and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Northland Securities restated a “buy” rating and issued a $10.00 price objective on shares of Callon Petroleum in a research note on Wednesday, August 7th. Finally, Roth Capital set a $12.00 price objective on Callon Petroleum and gave the company a “buy” rating in a research note on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the stock. Callon Petroleum has a consensus rating of “Buy” and an average price target of $11.89.
Hedge funds have recently bought and sold shares of the company. Systematic Financial Management LP grew its stake in shares of Callon Petroleum by 1.2% during the 1st quarter. Systematic Financial Management LP now owns 1,369,930 shares of the oil and natural gas company’s stock worth $10,343,000 after acquiring an additional 16,811 shares during the period. Moody Aldrich Partners LLC grew its stake in shares of Callon Petroleum by 52.9% during the 2nd quarter. Moody Aldrich Partners LLC now owns 576,267 shares of the oil and natural gas company’s stock worth $3,798,000 after acquiring an additional 199,346 shares during the period. Balasa Dinverno & Foltz LLC grew its stake in shares of Callon Petroleum by 69.8% during the 1st quarter. Balasa Dinverno & Foltz LLC now owns 22,934 shares of the oil and natural gas company’s stock worth $173,000 after acquiring an additional 9,424 shares during the period. Columbus Circle Investors boosted its stake in Callon Petroleum by 3.8% in the 1st quarter. Columbus Circle Investors now owns 1,539,795 shares of the oil and natural gas company’s stock worth $11,625,000 after purchasing an additional 55,793 shares during the period. Finally, Tributary Capital Management LLC boosted its stake in Callon Petroleum by 15.6% in the 1st quarter. Tributary Capital Management LLC now owns 2,098,046 shares of the oil and natural gas company’s stock worth $15,840,000 after purchasing an additional 282,381 shares during the period.
NYSE:CPE traded up $0.22 during trading on Friday, reaching $4.51. The company’s stock had a trading volume of 18,378,000 shares, compared to its average volume of 16,267,651. The firm has a market cap of $979.43 million, a price-to-earnings ratio of 5.50, a price-to-earnings-growth ratio of 0.51 and a beta of 1.44. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a 50 day moving average of $5.39 and a 200-day moving average of $6.88. Callon Petroleum has a 12 month low of $4.08 and a 12 month high of $13.09.
About Callon Petroleum
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Callon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.