Brokerages Expect Callon Petroleum (NYSE:CPE) Will Post Earnings of $0.20 Per Share

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Wall Street brokerages expect Callon Petroleum (NYSE:CPE) to announce $0.20 earnings per share (EPS) for the current quarter, according to Zacks. Nine analysts have made estimates for Callon Petroleum’s earnings, with estimates ranging from $0.16 to $0.24. Callon Petroleum posted earnings per share of $0.17 during the same quarter last year, which indicates a positive year-over-year growth rate of 17.6%. The company is expected to report its next quarterly earnings results on Tuesday, February 25th.

According to Zacks, analysts expect that Callon Petroleum will report full year earnings of $0.72 per share for the current financial year, with EPS estimates ranging from $0.66 to $0.77. For the next financial year, analysts expect that the business will report earnings of $1.01 per share, with EPS estimates ranging from $0.81 to $1.15. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Callon Petroleum.

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

Several brokerages have recently issued reports on CPE. Imperial Capital reduced their target price on shares of Callon Petroleum from $16.00 to $11.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 16th. Barclays reduced their target price on shares of Callon Petroleum from $9.00 to $6.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Citigroup reduced their target price on shares of Callon Petroleum from $10.00 to $8.50 and set a “buy” rating on the stock in a research note on Monday, September 23rd. ValuEngine raised shares of Callon Petroleum from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Williams Capital set a $8.00 target price on shares of Callon Petroleum and gave the company a “buy” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $9.95.

Institutional investors have recently added to or reduced their stakes in the stock. Moody Aldrich Partners LLC boosted its stake in Callon Petroleum by 52.9% during the 2nd quarter. Moody Aldrich Partners LLC now owns 576,267 shares of the oil and natural gas company’s stock worth $3,798,000 after acquiring an additional 199,346 shares during the last quarter. Aviva PLC bought a new position in Callon Petroleum during the 2nd quarter worth approximately $1,121,000. Schroder Investment Management Group boosted its stake in Callon Petroleum by 15.9% during the 2nd quarter. Schroder Investment Management Group now owns 1,868,992 shares of the oil and natural gas company’s stock worth $12,317,000 after acquiring an additional 256,679 shares during the last quarter. Prudential Financial Inc. boosted its stake in Callon Petroleum by 25.0% during the 2nd quarter. Prudential Financial Inc. now owns 1,365,280 shares of the oil and natural gas company’s stock worth $8,997,000 after acquiring an additional 273,240 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Callon Petroleum by 10.7% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,392,232 shares of the oil and natural gas company’s stock worth $55,305,000 after acquiring an additional 811,139 shares during the last quarter.

Shares of NYSE CPE opened at $4.54 on Friday. The firm has a market capitalization of $1.01 billion, a PE ratio of 5.54, a price-to-earnings-growth ratio of 0.34 and a beta of 1.46. The company has a current ratio of 0.55, a quick ratio of 0.47 and a debt-to-equity ratio of 0.48. Callon Petroleum has a 1 year low of $3.68 and a 1 year high of $10.73. The firm’s 50-day moving average is $4.13 and its 200-day moving average is $5.46.

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 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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