Imperial Capital Analysts Raise Earnings Estimates for Callon Petroleum (CPE)

Callon Petroleum (NYSE:CPE) – Analysts at Imperial Capital boosted their FY2018 earnings per share (EPS) estimates for shares of Callon Petroleum in a research note issued to investors on Thursday, November 8th. Imperial Capital analyst I. Haas now forecasts that the oil and natural gas company will post earnings per share of $0.91 for the year, up from their previous forecast of $0.84. Imperial Capital also issued estimates for Callon Petroleum’s FY2019 earnings at $1.47 EPS.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings data on Tuesday, November 6th. The oil and natural gas company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.20 by $0.01. The firm had revenue of $161.21 million during the quarter, compared to analyst estimates of $145.66 million. Callon Petroleum had a net margin of 30.70% and a return on equity of 8.60%. Callon Petroleum’s revenue was up 90.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.09 EPS.

CPE has been the subject of several other research reports. TheStreet upgraded shares of Callon Petroleum from a “c+” rating to a “b-” rating in a research note on Monday, September 17th. ValuEngine upgraded shares of Callon Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, September 13th. Oppenheimer started coverage on shares of Callon Petroleum in a research note on Wednesday, October 3rd. They set an “outperform” rating and a $16.00 price objective for the company. Bank of America reduced their price objective on shares of Callon Petroleum from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Zacks Investment Research upgraded shares of Callon Petroleum from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Wednesday, July 18th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $16.14.

NYSE CPE opened at $10.41 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.61 and a quick ratio of 2.61. The company has a market cap of $2.36 billion, a P/E ratio of 24.79 and a beta of 1.06. Callon Petroleum has a 52 week low of $9.23 and a 52 week high of $14.65.

Large investors have recently added to or reduced their stakes in the business. First Hawaiian Bank purchased a new stake in Callon Petroleum during the 3rd quarter worth approximately $107,000. Prospera Financial Services Inc purchased a new stake in Callon Petroleum during the 2nd quarter worth approximately $113,000. Strs Ohio grew its position in Callon Petroleum by 139.0% during the 3rd quarter. Strs Ohio now owns 9,800 shares of the oil and natural gas company’s stock worth $117,000 after purchasing an additional 5,700 shares during the last quarter. MML Investors Services LLC purchased a new stake in Callon Petroleum during the 3rd quarter worth approximately $144,000. Finally, Marietta Investment Partners LLC purchased a new stake in Callon Petroleum during the 2nd quarter worth approximately $153,000.

In other Callon Petroleum news, VP Mitzi P. Conn sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $11.76, for a total transaction of $176,400.00. Following the sale, the vice president now owns 42,062 shares of the company’s stock, valued at approximately $494,649.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.82% of the stock is currently owned by insiders.

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.

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

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