Callon Petroleum (NYSE:CPE) Expected to Post Earnings of $1.04 Per Share

Brokerages expect that Callon Petroleum (NYSE:CPE) will announce earnings of $1.04 per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Callon Petroleum’s earnings. The highest EPS estimate is $1.18 and the lowest is $0.81. Callon Petroleum posted earnings of $1.20 per share during the same quarter last year, which would indicate a negative year over year growth rate of 13.3%. The company is scheduled to issue its next quarterly earnings report on Monday, May 10th.

On average, analysts expect that Callon Petroleum will report full year earnings of $5.47 per share for the current year, with EPS estimates ranging from $3.47 to $6.91. For the next year, analysts expect that the business will post earnings of $7.59 per share, with EPS estimates ranging from $4.05 to $9.63. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Callon Petroleum.

Callon Petroleum (NYSE:CPE) last posted its earnings results on Tuesday, February 23rd. The oil and natural gas company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.50. Callon Petroleum had a positive return on equity of 5.38% and a negative net margin of 219.88%. The firm had revenue of $295.97 million for the quarter, compared to analyst estimates of $261.57 million.

A number of research firms recently issued reports on CPE. Citigroup upped their target price on Callon Petroleum from $6.00 to $16.00 in a research note on Thursday, January 21st. Truist Securities upped their target price on Callon Petroleum from $29.00 to $38.00 in a research note on Thursday, April 1st. Royal Bank of Canada upped their target price on Callon Petroleum from $16.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, December 17th. JPMorgan Chase & Co. assumed coverage on Callon Petroleum in a research note on Tuesday, March 30th. They set a “neutral” rating on the stock. Finally, Johnson Rice raised Callon Petroleum from a “hold” rating to an “accumulate” rating in a research note on Monday, March 15th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. Callon Petroleum has an average rating of “Hold” and an average target price of $15.16.

CPE stock opened at $38.94 on Monday. Callon Petroleum has a 1 year low of $3.90 and a 1 year high of $42.31. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.38 and a current ratio of 0.38. The stock’s 50 day moving average price is $33.91 and its 200 day moving average price is $16.48. The firm has a market cap of $1.80 billion, a P/E ratio of -0.75, a PEG ratio of 0.46 and a beta of 3.40.

In related news, CAO Gregory F. Conaway sold 10,000 shares of the stock in a transaction on Friday, March 12th. The stock was sold at an average price of $39.52, for a total value of $395,200.00. Following the completion of the sale, the chief accounting officer now directly owns 33,200 shares in the company, valued at approximately $1,312,064. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director S P. Iv Johnson sold 1,200 shares of the stock in a transaction on Thursday, March 18th. The shares were sold at an average price of $38.20, for a total value of $45,840.00. Following the completion of the sale, the director now owns 70,865 shares of the company’s stock, valued at $2,707,043. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Thompson Siegel & Walmsley LLC acquired a new stake in Callon Petroleum in the 4th quarter valued at $43,000. Public Employees Retirement System of Ohio grew its stake in shares of Callon Petroleum by 30.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 4,246 shares of the oil and natural gas company’s stock valued at $56,000 after acquiring an additional 992 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Callon Petroleum during the fourth quarter valued at about $183,000. Junson Asset Management Hong Kong Ltd acquired a new stake in shares of Callon Petroleum during the fourth quarter valued at about $197,000. Finally, Alliancebernstein L.P. acquired a new stake in shares of Callon Petroleum during the fourth quarter valued at about $211,000. Hedge funds and other institutional investors own 39.74% of the company’s stock.

About Callon Petroleum

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, exploration, and development of oil and natural gas properties in Permian Basin in West Texas. As of December 31, 2020, its estimated net proved reserves totaled approximately 475.9 million barrel of oil equivalent, including 289.5 MMBbls oil, 541.6 Bcf of natural gas, and 96.1 MMBbls of natural gas liquids.

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

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