FBR & Co Analysts Raise Earnings Estimates for Callon Petroleum Co. (CPE)
Callon Petroleum Co. (NYSE:CPE) – Equities research analysts at FBR & Co increased their Q3 2017 EPS estimates for Callon Petroleum in a research note issued to investors on Monday. FBR & Co analyst C. Mabry now forecasts that the firm will post earnings per share of $0.11 for the quarter, up from their previous forecast of $0.09. FBR & Co has a “Outperform” rating and a $19.00 price objective on the stock. FBR & Co also issued estimates for Callon Petroleum’s Q4 2017 earnings at $0.12 EPS, FY2017 earnings at $0.39 EPS and FY2018 earnings at $0.59 EPS.
CPE has been the topic of several other reports. Citigroup Inc. upped their price objective on Callon Petroleum from $12.50 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, August 11th. Imperial Capital reiterated an “outperform” rating and issued a $16.00 price objective (up from $14.00) on shares of Callon Petroleum in a research note on Wednesday, August 10th. Canaccord Genuity upped their price objective on Callon Petroleum from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, September 8th. Evercore ISI began coverage on Callon Petroleum in a research note on Wednesday, September 28th. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, Zacks Investment Research upgraded Callon Petroleum from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $15.36.
Callon Petroleum (NYSE:CPE) opened at 15.67 on Wednesday. The firm’s market cap is $2.05 billion. The stock has a 50 day moving average price of $14.66 and a 200 day moving average price of $11.85. Callon Petroleum has a 12 month low of $4.21 and a 12 month high of $15.91.
Callon Petroleum (NYSE:CPE) last announced its earnings results on Monday, August 8th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of $0.04 by $0.65. The company had revenue of $45.14 million for the quarter, compared to analysts’ expectations of $47.75 million. Callon Petroleum had a negative net margin of 233.91% and a positive return on equity of 3.77%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.11) earnings per share.
Institutional investors have recently added to or reduced their stakes in the company. Virginia Retirement System purchased a new position in Callon Petroleum during the first quarter worth about $1,467,000. Teachers Advisors Inc. boosted its position in 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 period. Franklin Resources Inc. boosted its position in 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 period. BlackRock Fund Advisors boosted its position in 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 period. Finally, BlackRock Institutional Trust Company N.A. boosted its position in 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 period. Hedge funds and other institutional investors 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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