Callon Petroleum to Post Q1 2018 Earnings of $0.19 Per Share, Imperial Capital Forecasts (CPE)

Callon Petroleum (NYSE:CPE) – Equities researchers at Imperial Capital boosted their Q1 2018 EPS estimates for shares of Callon Petroleum in a note issued to investors on Tuesday, April 24th. Imperial Capital analyst I. Haas now expects that the oil and natural gas company will post earnings of $0.19 per share for the quarter, up from their previous forecast of $0.18. Imperial Capital has a “Outperform” rating and a $21.00 price target on the stock. Imperial Capital also issued estimates for Callon Petroleum’s FY2019 earnings at $1.30 EPS.

Several other research analysts also recently commented on the company. Piper Jaffray initiated coverage on Callon Petroleum in a research note on Thursday, January 4th. They set an “overweight” rating and a $15.00 target price for the company. Citigroup downgraded Callon Petroleum from a “buy” rating to a “neutral” rating and set a $13.00 target price for the company. in a research note on Wednesday, January 3rd. ValuEngine raised Callon Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, March 20th. Zacks Investment Research downgraded Callon Petroleum from a “hold” rating to a “sell” rating in a research note on Monday, February 5th. Finally, Jefferies Group reissued a “buy” rating and set a $17.00 target price on shares of Callon Petroleum in a research note on Tuesday, January 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $16.42.

Shares of NYSE CPE opened at $14.01 on Wednesday. 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 stock has a market cap of $2,879.66, a price-to-earnings ratio of 33.36, a price-to-earnings-growth ratio of 0.50 and a beta of 1.19. Callon Petroleum has a 12 month low of $9.34 and a 12 month high of $14.44.

Callon Petroleum (NYSE:CPE) last issued its earnings results on Tuesday, February 27th. The oil and natural gas company reported $0.15 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. The firm 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 large investors have recently added to or reduced their stakes in CPE. Luminus Management LLC grew its holdings in shares of Callon Petroleum by 91.3% during the fourth quarter. Luminus Management LLC now owns 4,885,260 shares of the oil and natural gas company’s stock worth $59,356,000 after purchasing an additional 2,330,958 shares during the last quarter. Syntal Capital Partners LLC bought a new stake in shares of Callon Petroleum during the fourth quarter worth about $16,433,000. Key Square Capital Management LLC bought a new stake in shares of Callon Petroleum during the fourth quarter worth about $15,817,000. Deutsche Bank AG boosted its holdings in Callon Petroleum by 368.5% in the fourth quarter. Deutsche Bank AG now owns 1,548,475 shares of the oil and natural gas company’s stock valued at $18,812,000 after acquiring an additional 1,217,980 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its holdings in Callon Petroleum by 34.8% in the fourth 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 acquiring an additional 927,463 shares during the last quarter.

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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. 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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