Callon Petroleum (NYSE:CPE) – Equities researchers at Piper Jaffray Companies dropped their Q3 2019 earnings estimates for Callon Petroleum in a research note issued on Sunday, October 20th. Piper Jaffray Companies analyst K. Harrison now expects that the oil and natural gas company will post earnings per share of $0.17 for the quarter, down from their prior forecast of $0.18. Piper Jaffray Companies also issued estimates for Callon Petroleum’s Q4 2019 earnings at $0.19 EPS, FY2019 earnings at $0.69 EPS, Q1 2020 earnings at $0.22 EPS, Q2 2020 earnings at $0.22 EPS, Q4 2020 earnings at $0.25 EPS and FY2021 earnings at $0.93 EPS.
Other research analysts have also issued research reports about the stock. Barclays dropped their price target on shares of Callon Petroleum from $9.00 to $6.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Imperial Capital dropped their price target on shares of Callon Petroleum from $16.00 to $11.00 and set an “in-line” rating for the company in a research report on Tuesday, July 16th. Jefferies Financial Group lowered shares of Callon Petroleum from a “buy” rating to a “hold” rating and set a $11.00 price target for the company. in a research report on Monday, July 15th. Northland Securities set a $7.00 price target on shares of Callon Petroleum and gave the stock a “buy” rating in a research report on Monday. Finally, Williams Capital set a $8.00 price target on shares of Callon Petroleum and gave the stock a “buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Callon Petroleum has a consensus rating of “Buy” and an average target price of $10.35.
NYSE:CPE opened at $4.11 on Wednesday. Callon Petroleum has a 12-month low of $3.68 and a 12-month high of $11.47. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $847.31 million, a PE ratio of 5.01, a price-to-earnings-growth ratio of 0.47 and a beta of 1.42. The firm has a 50-day moving average price of $4.22 and a 200 day moving average price of $5.76.
Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.18 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Callon Petroleum had a net margin of 35.72% and a return on equity of 7.57%. The firm had revenue of $167.05 million during the quarter, compared to analyst estimates of $163.05 million. During the same quarter in the prior year, the business posted $0.23 earnings per share. The company’s quarterly revenue was up 21.9% compared to the same quarter last year.
A number of institutional investors have recently modified their holdings of CPE. Advisor Partners LLC bought a new stake in Callon Petroleum during the third quarter worth about $46,000. Signaturefd LLC grew its stake in Callon Petroleum by 78.1% during the third quarter. Signaturefd LLC now owns 14,244 shares of the oil and natural gas company’s stock worth $62,000 after buying an additional 6,246 shares during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in Callon Petroleum during the second quarter worth about $68,000. Cerebellum GP LLC bought a new stake in Callon Petroleum during the third quarter worth about $91,000. Finally, Usca Ria LLC bought a new stake in Callon Petroleum during the second quarter worth about $99,000.
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.
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