FY2016 EPS Estimates for Callon Petroleum Co. Lowered by Analyst (CPE)
Callon Petroleum Co. (NYSE:CPE) – Research analysts at Seaport Global Securities lowered their FY2016 earnings per share (EPS) estimates for Callon Petroleum in a note issued to investors on Wednesday. Seaport Global Securities analyst M. Kelly now anticipates that the brokerage will post earnings of $0.24 per share for the year, down from their previous forecast of $0.26. Seaport Global Securities also issued estimates for Callon Petroleum’s Q2 2017 earnings at $0.10 EPS, Q3 2017 earnings at $0.11 EPS, Q4 2017 earnings at $0.13 EPS and FY2017 earnings at $0.43 EPS.
Callon Petroleum (NYSE:CPE) last announced its earnings results on Monday, August 8th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by $0.65. Callon Petroleum had a negative net margin of 233.91% and a positive return on equity of 3.77%. The business earned $45.14 million during the quarter, compared to analysts’ expectations of $47.75 million. During the same period in the previous year, the company posted ($0.11) earnings per share. Callon Petroleum’s quarterly revenue was up 15.0% on a year-over-year basis.
A number of other equities analysts also recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Callon Petroleum from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Thursday, August 11th. FBR & Co raised their target price on shares of Callon Petroleum from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, August 10th. Evercore ISI assumed coverage on shares of Callon Petroleum in a research note on Wednesday, September 28th. They issued a “buy” rating and a $20.00 target price on the stock. KeyCorp lifted their price target on shares of Callon Petroleum from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, August 22nd. Finally, Zacks Investment Research downgraded shares of Callon Petroleum from a “buy” rating to a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $15.58.
Shares of Callon Petroleum (NYSE:CPE) opened at 15.42 on Thursday. The stock has a 50 day moving average of $14.93 and a 200-day moving average of $12.11. Callon Petroleum has a one year low of $4.21 and a one year high of $16.36. The stock’s market capitalization is $2.02 billion.
Several hedge funds have recently added to or reduced their stakes in the company. Silvercrest Asset Management Group LLC acquired a new stake in Callon Petroleum during the second quarter worth approximately $32,029,000. Copper Rock Capital Partners LLC acquired a new stake in Callon Petroleum during the third quarter worth approximately $27,330,000. State Street Corp increased its stake in Callon Petroleum by 53.3% in the second quarter. State Street Corp now owns 4,492,291 shares of the company’s stock worth $50,443,000 after buying an additional 1,561,776 shares during the last quarter. Teachers Advisors Inc. increased its stake in Callon Petroleum by 100.9% in the second quarter. Teachers Advisors Inc. now owns 3,093,435 shares of the company’s stock worth $34,739,000 after buying an additional 1,553,655 shares during the last quarter. Finally, FMR LLC increased its stake in Callon Petroleum by 23.0% in the second quarter. FMR LLC now owns 6,460,630 shares of the company’s stock worth $72,553,000 after buying an additional 1,209,080 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.
Receive News & Stock Ratings for Callon Petroleum Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callon Petroleum Co. and related stocks with our FREE daily email newsletter.