Seaport Global Securities Weighs in on Callon Petroleum Company’s FY2017 Earnings (CPE)
Callon Petroleum Company (NYSE:CPE) – Seaport Global Securities cut their FY2017 EPS estimates for Callon Petroleum in a research note issued to investors on Tuesday. Seaport Global Securities analyst M. Kelly now forecasts that the oil and natural gas company will post earnings per share of $0.46 for the year, down from their prior forecast of $0.49. Seaport Global Securities currently has a “Neutral” rating and a $10.00 price objective on the stock.
Several other research analysts have also recently weighed in on CPE. Scotiabank set a $15.00 price target on shares of Callon Petroleum and gave the stock a “buy” rating in a research note on Saturday, July 1st. Citigroup Inc. dropped their price target on shares of Callon Petroleum from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, July 13th. Zacks Investment Research upgraded shares of Callon Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub cut shares of Callon Petroleum from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 20th. Finally, BMO Capital Markets set a $15.00 price target on shares of Callon Petroleum and gave the stock a “buy” rating in a research note on Monday, June 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $17.57.
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Shares of Callon Petroleum (NYSE CPE) opened at 10.94 on Thursday. The firm’s 50-day moving average is $10.66 and its 200-day moving average is $11.25. The company has a market cap of $2.21 billion, a PE ratio of 20.84 and a beta of 1.43. Callon Petroleum has a one year low of $9.34 and a one year high of $18.53.
Callon Petroleum (NYSE:CPE) last issued 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 business had revenue of $82.30 million for the quarter, compared to the consensus estimate of $83.89 million. During the same period in the previous year, the firm earned ($0.61) EPS. The company’s revenue was up 82.5% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently made changes to their positions in CPE. Fondren Management LP bought a new stake in Callon Petroleum in the 2nd quarter valued at $106,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Callon Petroleum by 86.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,389 shares of the oil and natural gas company’s stock valued at $110,000 after acquiring an additional 3,896 shares during the last quarter. FFT Wealth Management LLC bought a new stake in Callon Petroleum in the 2nd quarter valued at $113,000. Strs Ohio increased its holdings in shares of Callon Petroleum by 6.5% in the 1st quarter. Strs Ohio now owns 9,800 shares of the oil and natural gas company’s stock worth $128,000 after buying an additional 600 shares during the last quarter. Finally, Green Square Capital LLC bought a new stake in shares of Callon Petroleum in the 1st quarter worth about $132,000.
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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