Research Analysts Set Expectations for Callon Petroleum Co.’s Q1 2017 Earnings (CPE)
Callon Petroleum Co. (NYSE:CPE) – Equities research analysts at Imperial Capital lowered their Q1 2017 EPS estimates for shares of Callon Petroleum in a report released on Friday. Imperial Capital analyst K. Pacanovsky now expects that the brokerage will post earnings per share of $0.07 for the quarter, down from their prior forecast of $0.08. Imperial Capital currently has a “Outperform” rating and a $18.00 price target on the stock. Imperial Capital also issued estimates for Callon Petroleum’s Q3 2017 earnings at $0.09 EPS.
Other equities analysts have also recently issued research reports about the stock. FBR & Co lifted their price objective on shares of Callon Petroleum from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, September 9th. Roth Capital set a $16.00 price objective on shares of Callon Petroleum and gave the stock a “buy” rating in a research note on Wednesday, September 7th. Citigroup Inc. began coverage on shares of Callon Petroleum in a research note on Wednesday, June 29th. They issued a “neutral” rating and a $12.00 price objective on the stock. US Capital Advisors reaffirmed a “buy” rating on shares of Callon Petroleum in a research note on Monday, June 6th. Finally, Zacks Investment Research cut shares of Callon Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, August 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $15.25.
Callon Petroleum (NYSE:CPE) opened at 15.70 on Monday. Callon Petroleum has a 1-year low of $4.21 and a 1-year high of $15.91. The firm’s market cap is $2.06 billion. The firm has a 50 day moving average of $14.51 and a 200 day moving average of $11.67.
Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.61) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.65. The business earned $45.14 million during the quarter, compared to analyst estimates of $47.75 million. Callon Petroleum had a positive return on equity of 3.77% and a negative net margin of 233.91%. The business’s revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.11) EPS.
Several hedge funds have recently modified their holdings of the company. Virginia Retirement System purchased a new stake in shares of Callon Petroleum during the first quarter worth $1,467,000. Teachers Advisors Inc. boosted its stake in shares of Callon Petroleum by 14.7% in the first quarter. Teachers Advisors Inc. now owns 1,539,780 shares of the company’s stock worth $13,627,000 after buying an additional 197,700 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Callon Petroleum by 12.4% in the first quarter. Franklin Resources Inc. now owns 4,717,958 shares of the company’s stock worth $41,754,000 after buying an additional 521,111 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Callon Petroleum by 17.1% in the first quarter. BlackRock Fund Advisors now owns 2,456,320 shares of the company’s stock worth $21,738,000 after buying an additional 358,241 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Callon Petroleum by 25.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,389,730 shares of the company’s stock worth $21,149,000 after buying an additional 485,848 shares during the last quarter. Institutional investors and hedge funds own 83.09% of the company’s stock.
About Callon Petroleum
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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