FY2019 EPS Estimates for Callon Petroleum Boosted by Analyst (NYSE:CPE)

Callon Petroleum (NYSE:CPE) – Equities researchers at SunTrust Banks increased their FY2019 earnings estimates for shares of Callon Petroleum in a research note issued on Tuesday, November 5th. SunTrust Banks analyst N. Dingmann now anticipates that the oil and natural gas company will earn $0.74 per share for the year, up from their prior forecast of $0.73. SunTrust Banks also issued estimates for Callon Petroleum’s Q1 2020 earnings at $0.22 EPS, Q2 2020 earnings at $0.24 EPS, Q4 2020 earnings at $0.26 EPS, FY2020 earnings at $1.00 EPS, Q1 2021 earnings at $0.26 EPS, Q2 2021 earnings at $0.28 EPS, Q3 2021 earnings at $0.30 EPS and FY2021 earnings at $1.11 EPS.

Callon Petroleum (NYSE:CPE) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The firm had revenue of $155.38 million during the quarter, compared to analysts’ expectations of $152.61 million. Callon Petroleum had a net margin of 38.86% and a return on equity of 7.48%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.21 earnings per share.

CPE has been the topic of several other research reports. ValuEngine upgraded shares of Callon Petroleum from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Evercore ISI restated a “hold” rating and set a $12.00 price target on shares of Callon Petroleum in a research report on Thursday, August 8th. Northland Securities set a $7.00 price target on shares of Callon Petroleum and gave the company a “buy” rating in a research report on Monday, October 21st. Citigroup dropped their price target on shares of Callon Petroleum from $10.00 to $8.50 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Finally, Williams Capital set a $8.00 price target on shares of Callon Petroleum and gave the company a “buy” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $9.95.

CPE stock opened at $4.54 on Friday. The firm has a market cap of $1.01 billion, a PE ratio of 5.54, a P/E/G ratio of 0.34 and a beta of 1.46. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.47 and a current ratio of 0.55. The firm’s fifty day moving average is $4.13 and its 200 day moving average is $5.46. Callon Petroleum has a one year low of $3.68 and a one year high of $10.73.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Callon Petroleum by 0.8% in the second quarter. BlackRock Inc. now owns 26,631,505 shares of the oil and natural gas company’s stock valued at $175,502,000 after purchasing an additional 219,910 shares during the period. Vanguard Group Inc. grew its position in shares of Callon Petroleum by 3.7% in the second quarter. Vanguard Group Inc. now owns 22,086,955 shares of the oil and natural gas company’s stock valued at $145,552,000 after purchasing an additional 778,699 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Callon Petroleum by 10.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,392,232 shares of the oil and natural gas company’s stock valued at $55,305,000 after purchasing an additional 811,139 shares during the period. Macquarie Group Ltd. grew its position in shares of Callon Petroleum by 1,098.7% in the second quarter. Macquarie Group Ltd. now owns 7,230,540 shares of the oil and natural gas company’s stock valued at $47,649,000 after purchasing an additional 6,627,337 shares during the period. Finally, Silvercrest Asset Management Group LLC grew its position in shares of Callon Petroleum by 21.8% in the second quarter. Silvercrest Asset Management Group LLC now owns 7,039,169 shares of the oil and natural gas company’s stock valued at $46,388,000 after purchasing an additional 1,261,198 shares during the period.

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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