Callon Petroleum Company (NYSE:CPE) – Equities researchers at US Capital Advisors decreased their Q1 2017 earnings per share estimates for Callon Petroleum Company in a report released on Thursday. US Capital Advisors analyst C. Horwitz now anticipates that the firm will earn $0.08 per share for the quarter, down from their prior forecast of $0.13. US Capital Advisors also issued estimates for Callon Petroleum Company’s Q2 2017 earnings at $0.12 EPS, Q3 2017 earnings at $0.14 EPS, Q4 2017 earnings at $0.16 EPS and FY2017 earnings at $0.49 EPS.
Callon Petroleum Company (NYSE:CPE) last released its earnings results on Monday, February 27th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $69.10 million for the quarter, compared to analysts’ expectations of $72.03 million. Callon Petroleum Company had a positive return on equity of 4.44% and a negative net margin of 122.93%. The firm’s revenue for the quarter was up 105.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS.
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Several other analysts have also recently commented on the stock. Roth Capital set a $23.00 target price on shares of Callon Petroleum Company and gave the stock a “buy” rating in a research note on Wednesday, February 22nd. KeyCorp raised their target price on shares of Callon Petroleum Company from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 22nd. Credit Suisse Group AG raised their target price on shares of Callon Petroleum Company from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 31st. Deutsche Bank AG started coverage on shares of Callon Petroleum Company in a research note on Monday, November 28th. They issued a “buy” rating and a $15.84 target price for the company. Finally, Citigroup Inc upgraded shares of Callon Petroleum Company from a “neutral” rating to a “buy” rating in a research note on Thursday, March 9th. Three equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $17.48.
Shares of Callon Petroleum Company (NYSE:CPE) opened at 12.18 on Monday. The stock’s market cap is $2.45 billion. Callon Petroleum Company has a 1-year low of $7.85 and a 1-year high of $18.53. The stock’s 50 day moving average is $13.46 and its 200-day moving average is $14.74.
In other Callon Petroleum Company news, VP Jerry A. Weant sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 14th. The shares were sold at an average price of $14.45, for a total transaction of $57,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.61% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. increased its position in Callon Petroleum Company by 296.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,362 shares of the company’s stock valued at $114,000 after buying an additional 5,506 shares during the period. Meeder Asset Management Inc. increased its position in Callon Petroleum Company by 593.3% in the third quarter. Meeder Asset Management Inc. now owns 7,592 shares of the company’s stock valued at $119,000 after buying an additional 6,497 shares during the period. Sei Investments Co. increased its position in Callon Petroleum Company by 607.0% in the third quarter. Sei Investments Co. now owns 8,321 shares of the company’s stock valued at $131,000 after buying an additional 7,144 shares during the period. Advisor Group Inc. increased its position in Callon Petroleum Company by 129.8% in the third quarter. Advisor Group Inc. now owns 11,293 shares of the company’s stock valued at $177,000 after buying an additional 6,379 shares during the period. Finally, Nine Chapters Capital Management LLC acquired a new position in Callon Petroleum Company during the third quarter valued at $196,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.
About Callon Petroleum Company
Callon Petroleum Company is an independent oil and natural gas company. The Company is engaged in the exploration, development, acquisition and production of oil and natural gas properties. It focuses on unconventional, onshore, oil and natural gas reserves in the Permian Basin in West Texas and the Midland Basin.
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