Brokers Set Expectations for Callon Petroleum Company’s Q3 2017 Earnings (CPE)
Callon Petroleum Company (NYSE:CPE) – Investment analysts at KeyCorp cut their Q3 2017 EPS estimates for shares of Callon Petroleum in a report issued on Monday. KeyCorp analyst C. Stevens now anticipates that the oil and natural gas company will post earnings of $0.08 per share for the quarter, down from their previous estimate of $0.10. KeyCorp also issued estimates for Callon Petroleum’s Q4 2017 earnings at $0.13 EPS and FY2017 earnings at $0.40 EPS.
Several other research firms have also issued reports on CPE. BidaskClub upgraded shares of Callon Petroleum from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Zacks Investment Research upgraded shares of Callon Petroleum from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Citigroup Inc. reduced their price target on shares of Callon Petroleum from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Northland Securities set a $18.00 price target on shares of Callon Petroleum and gave the stock a “buy” rating in a research report on Monday, July 17th. Finally, Scotiabank set a $15.00 price target on shares of Callon Petroleum and gave the stock a “buy” rating in a research report on Saturday, July 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $17.57.
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Callon Petroleum (NYSE:CPE) opened at 11.24 on Wednesday. Callon Petroleum has a 1-year low of $9.34 and a 1-year high of $18.53. The company has a market cap of $2.27 billion, a PE ratio of 21.41 and a beta of 1.43. The stock has a 50 day moving average of $10.63 and a 200-day moving average of $11.26.
Callon Petroleum (NYSE:CPE) last posted its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). Callon Petroleum had a net margin of 34.61% and a return on equity of 4.16%. The firm had revenue of $82.30 million during the quarter, compared to the consensus estimate of $83.89 million. During the same quarter last year, the firm posted ($0.61) EPS. The business’s revenue was up 82.5% on a year-over-year basis.
Large investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Callon Petroleum by 86.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,389 shares of the oil and natural gas company’s stock worth $110,000 after purchasing an additional 3,896 shares during the period. Strs Ohio grew its holdings in shares of Callon Petroleum by 6.5% during the first quarter. Strs Ohio now owns 9,800 shares of the oil and natural gas company’s stock valued at $128,000 after buying an additional 600 shares during the last quarter. Green Square Capital LLC acquired a new position in shares of Callon Petroleum during the first quarter valued at about $132,000. Fondren Management LP acquired a new position in shares of Callon Petroleum during the second quarter valued at about $106,000. Finally, FFT Wealth Management LLC acquired a new position in shares of Callon Petroleum during the second quarter valued at about $113,000.
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. The Company focuses on the acquisition and development of unconventional oil and natural gas reserves in the Permian Basin.
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