Oppenheimer Research Analysts Reduce Earnings Estimates for Callon Petroleum (NYSE:CPE)

Callon Petroleum (NYSE:CPE) – Analysts at Oppenheimer decreased their Q1 2020 EPS estimates for Callon Petroleum in a research note issued on Thursday, June 13th. Oppenheimer analyst T. Rezvan now expects that the oil and natural gas company will post earnings per share of $0.33 for the quarter, down from their prior estimate of $0.34. Oppenheimer also issued estimates for Callon Petroleum’s Q2 2020 earnings at $0.35 EPS and FY2020 earnings at $1.42 EPS.

Several other research firms have also recently weighed in on CPE. SunTrust Banks set a $12.00 price target on shares of Callon Petroleum and gave the company a “buy” rating in a report on Tuesday, April 23rd. Williams Capital reissued a “buy” rating and issued a $12.00 price target on shares of Callon Petroleum in a report on Tuesday, April 9th. Morgan Stanley began coverage on shares of Callon Petroleum in a report on Thursday, March 21st. They issued an “equal weight” rating and a $9.00 price target on the stock. Capital One Financial cut shares of Callon Petroleum from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 20th. Finally, Zacks Investment Research raised shares of Callon Petroleum from a “strong sell” rating to a “hold” rating in a report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $13.00.

Callon Petroleum stock opened at $6.01 on Monday. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 7.33, a P/E/G ratio of 0.61 and a beta of 1.55. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.55. Callon Petroleum has a twelve month low of $5.57 and a twelve month high of $13.09.

Callon Petroleum (NYSE:CPE) last issued its earnings results on Monday, May 6th. The oil and natural gas company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.01. The company had revenue of $153.05 million for the quarter, compared to analysts’ expectations of $144.68 million. Callon Petroleum had a net margin of 36.70% and a return on equity of 7.55%. Callon Petroleum’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 EPS.

Several large investors have recently made changes to their positions in CPE. Thrivent Financial for Lutherans grew its position in shares of Callon Petroleum by 208.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 7,823,096 shares of the oil and natural gas company’s stock worth $50,772,000 after purchasing an additional 5,285,401 shares in the last quarter. Westwood Holdings Group Inc. grew its position in shares of Callon Petroleum by 52.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 5,591,310 shares of the oil and natural gas company’s stock worth $42,214,000 after purchasing an additional 1,929,367 shares in the last quarter. BlackRock Inc. grew its position in shares of Callon Petroleum by 5.2% during the 4th quarter. BlackRock Inc. now owns 26,888,623 shares of the oil and natural gas company’s stock worth $174,508,000 after purchasing an additional 1,326,915 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Callon Petroleum by 25.4% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,264,141 shares of the oil and natural gas company’s stock worth $40,655,000 after purchasing an additional 1,268,538 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Callon Petroleum during the 4th quarter worth approximately $6,803,000.

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

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