FY2016 Earnings Estimate for Callon Petroleum Co. (CPE) Issued By KeyCorp
Callon Petroleum Co. (NYSE:CPE) – Stock analysts at KeyCorp reduced their FY2016 EPS estimates for shares of Callon Petroleum in a research note issued on Tuesday. KeyCorp analyst C. Stevens now expects that the firm will earn $0.30 per share for the year, down from their previous forecast of $0.37. KeyCorp has a “Overweight” rating and a $20.00 price target on the stock. KeyCorp also issued estimates for Callon Petroleum’s Q4 2016 earnings at $0.11 EPS, Q1 2017 earnings at $0.12 EPS, Q2 2017 earnings at $0.15 EPS, Q3 2017 earnings at $0.18 EPS, Q4 2017 earnings at $0.20 EPS, FY2017 earnings at $0.65 EPS and FY2018 earnings at $1.35 EPS.
Callon Petroleum (NYSE:CPE) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The company earned $55.90 million during the quarter, compared to analyst estimates of $45.48 million. Callon Petroleum had a negative net margin of 122.93% and a positive return on equity of 4.44%. The firm’s revenue for the quarter was up 63.0% compared to the same quarter last year. During the same period last year, the business earned $0.05 EPS.
A number of other brokerages have also recently weighed in on CPE. Wunderlich boosted their price objective on shares of Callon Petroleum from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Imperial Capital boosted their price objective on shares of Callon Petroleum from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, September 30th. BMO Capital Markets initiated coverage on shares of Callon Petroleum in a research note on Thursday, September 22nd. They issued an “outperform” rating and a $20.00 price objective for the company. Zacks Investment Research upgraded shares of Callon Petroleum from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Friday, August 12th. Finally, FBR & Co restated a “buy” rating and issued a $20.00 price objective on shares of Callon Petroleum in a research note on Thursday, November 3rd. Four research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Callon Petroleum currently has an average rating of “Buy” and an average target price of $15.96.
Callon Petroleum (NYSE:CPE) opened at 16.24 on Wednesday. Callon Petroleum has a one year low of $4.21 and a one year high of $16.36. The firm’s 50-day moving average is $14.59 and its 200 day moving average is $13.12. The firm’s market capitalization is $2.62 billion.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position 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. Vanguard Group Inc. increased its position in Callon Petroleum by 25.2% in the second quarter. Vanguard Group Inc. now owns 5,273,827 shares of the company’s stock worth $59,224,000 after buying an additional 1,062,889 shares during the last quarter. State Street Corp increased its position 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. BlackRock Fund Advisors increased its position in Callon Petroleum by 27.5% in the third quarter. BlackRock Fund Advisors now owns 3,700,173 shares of the company’s stock worth $58,093,000 after buying an additional 797,186 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in Callon Petroleum by 19.2% in the third quarter. Teachers Advisors LLC now owns 3,687,697 shares of the company’s stock worth $57,897,000 after buying an additional 594,262 shares during the last quarter. Institutional investors own 89.62% of the company’s stock.
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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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