Callon Petroleum (NYSE:CPE) – Analysts at Imperial Capital reduced their FY2019 earnings per share estimates for shares of Callon Petroleum in a research report issued to clients and investors on Wednesday, November 6th. Imperial Capital analyst I. Haas now expects that the oil and natural gas company will earn $0.71 per share for the year, down from their prior estimate of $0.72. Imperial Capital currently has a “In-Line” rating and a $11.00 price objective on the stock. Imperial Capital also issued estimates for Callon Petroleum’s Q1 2020 earnings at $0.22 EPS, Q2 2020 earnings at $0.22 EPS, Q4 2020 earnings at $0.26 EPS and FY2020 earnings at $0.94 EPS.

Callon Petroleum (NYSE:CPE) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The business had revenue of $155.38 million for the quarter, compared to analysts’ expectations of $152.61 million. Callon Petroleum had a return on equity of 7.48% and a net margin of 38.86%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 EPS.

Several other research analysts have also recently weighed in on CPE. Evercore ISI restated a “hold” rating and set a $12.00 target price on shares of Callon Petroleum in a report on Thursday, August 8th. Jefferies Financial Group cut Callon Petroleum from a “buy” rating to a “hold” rating and set a $11.00 target price on the stock. in a report on Monday, July 15th. Citigroup decreased their price objective on Callon Petroleum from $10.00 to $8.50 and set a “buy” rating on the stock in a report on Monday, September 23rd. ValuEngine upgraded Callon Petroleum from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Barclays decreased their price objective on Callon Petroleum from $9.00 to $6.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $10.35.

Shares of Callon Petroleum stock traded up $0.21 on Friday, hitting $4.53. 18,627,908 shares of the company were exchanged, compared to its average volume of 19,150,026. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 5.52, a price-to-earnings-growth ratio of 0.34 and a beta of 1.46. The company has a 50-day moving average price of $4.13 and a 200 day moving average price of $5.48. Callon Petroleum has a 1-year low of $3.68 and a 1-year high of $11.23. The company has a quick ratio of 0.47, a current ratio of 0.55 and a debt-to-equity ratio of 0.48.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisor Partners LLC purchased a new stake in Callon Petroleum in the third quarter valued at approximately $46,000. Cornerstone Investment Partners LLC raised its position in Callon Petroleum by 23.6% in the third quarter. Cornerstone Investment Partners LLC now owns 13,312 shares of the oil and natural gas company’s stock valued at $58,000 after purchasing an additional 2,544 shares during the period. Signaturefd LLC raised its position in Callon Petroleum by 78.1% in the third quarter. Signaturefd LLC now owns 14,244 shares of the oil and natural gas company’s stock valued at $62,000 after purchasing an additional 6,246 shares during the period. Sigma Planning Corp purchased a new stake in Callon Petroleum in the third quarter valued at approximately $64,000. Finally, Abacus Planning Group Inc. purchased a new stake in Callon Petroleum in the third quarter valued at approximately $65,000.

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 and southeastern New Mexico. As of December 31, 2018, its estimated net proved reserves totaled 238.5 million barrel of oil equivalent, including 180.1 MMBbls of oil and 350.5 Bcf of natural gas.

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

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