Callon Petroleum (NYSE:CPE) – Equities researchers at Jefferies Financial Group reduced their FY2018 earnings per share estimates for shares of Callon Petroleum in a note issued to investors on Tuesday, November 13th. Jefferies Financial Group analyst M. Lear now expects that the oil and natural gas company will post earnings per share of $0.91 for the year, down from their previous forecast of $0.95. Jefferies Financial Group also issued estimates for Callon Petroleum’s Q2 2019 earnings at $0.31 EPS, Q2 2020 earnings at $0.43 EPS, Q3 2020 earnings at $0.45 EPS and FY2020 earnings at $1.76 EPS.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results on Tuesday, November 6th. The oil and natural gas company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. The business had revenue of $161.21 million during the quarter, compared to the consensus estimate of $145.66 million. Callon Petroleum had a return on equity of 8.31% and a net margin of 30.70%. Callon Petroleum’s revenue for the quarter was up 90.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 earnings per share.

A number of other research analysts also recently commented on CPE. Zacks Investment Research raised Callon Petroleum from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Wednesday, July 18th. Stephens set a $20.00 price target on Callon Petroleum and gave the company a “buy” rating in a research note on Wednesday, July 25th. ValuEngine raised Callon Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, August 10th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $20.00 price target on shares of Callon Petroleum in a research note on Sunday, August 12th. Finally, KLR Group reaffirmed a “buy” rating and issued a $16.00 price target on shares of Callon Petroleum in a research note on Monday, August 20th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $16.24.

CPE stock opened at $9.64 on Wednesday. The stock has a market capitalization of $2.31 billion, a P/E ratio of 12.84 and a beta of 1.06. Callon Petroleum has a 52 week low of $9.23 and a 52 week high of $14.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.57 and a quick ratio of 0.57.

A number of hedge funds and other institutional investors have recently modified their holdings of CPE. Legal & General Group Plc raised its stake in Callon Petroleum by 10.2% during the first quarter. Legal & General Group Plc now owns 202,052 shares of the oil and natural gas company’s stock worth $2,675,000 after acquiring an additional 18,709 shares in the last quarter. Principal Financial Group Inc. raised its stake in Callon Petroleum by 2.7% during the first quarter. Principal Financial Group Inc. now owns 875,735 shares of the oil and natural gas company’s stock worth $11,594,000 after acquiring an additional 23,399 shares in the last quarter. MHI Funds LLC raised its stake in Callon Petroleum by 36.6% during the second quarter. MHI Funds LLC now owns 18,053 shares of the oil and natural gas company’s stock worth $194,000 after acquiring an additional 4,837 shares in the last quarter. Miller Howard Investments Inc. NY grew its holdings in shares of Callon Petroleum by 19.2% during the second quarter. Miller Howard Investments Inc. NY now owns 335,086 shares of the oil and natural gas company’s stock worth $3,599,000 after purchasing an additional 53,968 shares during the last quarter. Finally, Retirement Systems of Alabama grew its holdings in shares of Callon Petroleum by 26.3% during the second quarter. Retirement Systems of Alabama now owns 950,511 shares of the oil and natural gas company’s stock worth $10,208,000 after purchasing an additional 197,873 shares during the last quarter.

In other Callon Petroleum news, VP Mitzi P. Conn sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $11.76, for a total transaction of $176,400.00. Following the completion of the transaction, the vice president now owns 42,062 shares of the company’s stock, valued at $494,649.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.63% of the stock is currently owned by insiders.

Callon Petroleum Company Profile

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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