Analysts expect Callon Petroleum (NYSE:CPE) to post $0.21 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Callon Petroleum’s earnings, with estimates ranging from $0.16 to $0.28. Callon Petroleum posted earnings of $0.09 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 133.3%. The firm is expected to announce its next earnings results on Monday, November 5th.

On average, analysts expect that Callon Petroleum will report full year earnings of $0.84 per share for the current fiscal year, with EPS estimates ranging from $0.74 to $0.93. For the next fiscal year, analysts forecast that the firm will report earnings of $1.29 per share, with EPS estimates ranging from $0.92 to $1.70. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for Callon Petroleum.

Callon Petroleum (NYSE:CPE) last issued its earnings results on Monday, August 6th. The oil and natural gas company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.01). Callon Petroleum had a net margin of 31.27% and a return on equity of 7.25%. The company had revenue of $137.10 million during the quarter, compared to analyst estimates of $133.66 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The business’s revenue was up 66.6% on a year-over-year basis.

CPE has been the subject of a number of research reports. ValuEngine downgraded Callon Petroleum from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Zacks Investment Research upgraded Callon Petroleum from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Wednesday, July 18th. Barclays initiated coverage on Callon Petroleum in a research note on Wednesday, August 29th. They issued an “overweight” rating and a $14.00 target price for the company. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $20.00 target price on shares of Callon Petroleum in a research note on Sunday, August 12th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $16.11.

CPE stock traded up $0.02 during midday trading on Tuesday, reaching $11.54. The company had a trading volume of 2,980,700 shares, compared to its average volume of 4,966,757. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.44. Callon Petroleum has a fifty-two week low of $9.75 and a fifty-two week high of $14.65. The company has a market cap of $2.66 billion, a P/E ratio of 28.00 and a beta of 1.10.

Several hedge funds and other institutional investors have recently modified their holdings of CPE. BlackRock Inc. boosted its position in shares of Callon Petroleum by 14.9% during the second quarter. BlackRock Inc. now owns 24,830,264 shares of the oil and natural gas company’s stock worth $266,676,000 after buying an additional 3,218,124 shares during the period. Columbus Circle Investors acquired a new position in shares of Callon Petroleum during the second quarter worth approximately $32,328,000. Luminus Management LLC boosted its position in shares of Callon Petroleum by 65.4% during the second quarter. Luminus Management LLC now owns 6,620,618 shares of the oil and natural gas company’s stock worth $71,105,000 after buying an additional 2,618,965 shares during the period. Channing Capital Management LLC boosted its position in shares of Callon Petroleum by 65.6% during the second quarter. Channing Capital Management LLC now owns 5,709,338 shares of the oil and natural gas company’s stock worth $61,319,000 after buying an additional 2,262,652 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Callon Petroleum by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 17,261,443 shares of the oil and natural gas company’s stock worth $185,390,000 after purchasing an additional 2,256,780 shares during the period.

About Callon Petroleum

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional onshore, oil, and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2017, its estimated net proved reserves totaled 137.0 million barrel of oil equivalent.

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Earnings History and Estimates for Callon Petroleum (NYSE:CPE)

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