Callon Petroleum Company (CPE) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS
Callon Petroleum Company (NYSE:CPE) posted its quarterly earnings results on Monday. The oil and natural gas company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01), Bloomberg Earnings reports. The company had revenue of $84.60 million during the quarter, compared to analyst estimates of $81.98 million. Callon Petroleum had a net margin of 30.20% and a return on equity of 4.08%. The company’s revenue was up 51.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.09 earnings per share.
Shares of Callon Petroleum (NYSE CPE) opened at $11.64 on Wednesday. Callon Petroleum has a 12-month low of $9.34 and a 12-month high of $18.53. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a market capitalization of $2,390.00, a P/E ratio of 33.69 and a beta of 1.38.
Several analysts recently issued reports on the stock. Northland Securities reaffirmed a “buy” rating and issued a $18.00 price target on shares of Callon Petroleum in a report on Wednesday, November 1st. Citigroup Inc. cut their price target on shares of Callon Petroleum from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, July 13th. Zacks Investment Research raised shares of Callon Petroleum from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Jefferies Group LLC assumed coverage on shares of Callon Petroleum in a report on Monday, October 9th. They issued a “buy” rating and a $16.00 price target on the stock. Finally, BidaskClub cut shares of Callon Petroleum from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. Callon Petroleum presently has a consensus rating of “Buy” and an average price target of $17.50.
Callon Petroleum Company Profile
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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