Capital One Financial Comments on Callon Petroleum’s FY2020 Earnings (NYSE:CPE)

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Callon Petroleum (NYSE:CPE) – Equities research analysts at Capital One Financial upped their FY2020 EPS estimates for Callon Petroleum in a research note issued on Tuesday, November 5th. Capital One Financial analyst P. Johnston now anticipates that the oil and natural gas company will earn $1.10 per share for the year, up from their prior forecast of $1.07.

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

Several other research firms have also issued reports on CPE. Citigroup lowered their target price on shares of Callon Petroleum from $10.00 to $8.50 and set a “buy” rating for the company in a report on Monday, September 23rd. Morgan Stanley lowered their target price on shares of Callon Petroleum from $6.25 to $4.75 and set an “equal weight” rating for the company in a report on Friday, October 4th. Jefferies Financial Group lowered shares of Callon Petroleum from a “buy” rating to a “hold” rating and set a $11.00 target price for the company. in a report on Monday, July 15th. Evercore ISI reaffirmed a “hold” rating and issued a $12.00 price target on shares of Callon Petroleum in a research note on Thursday, August 8th. Finally, Northland Securities set a $7.00 price target on shares of Callon Petroleum and gave the stock a “buy” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $9.95.

Callon Petroleum stock opened at $4.54 on Friday. The firm has a 50-day moving average price of $4.13 and a 200-day moving average price of $5.46. 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 12-month low of $3.68 and a 12-month high of $10.73.

A number of hedge funds have recently bought and sold shares of the stock. Vaughan Nelson Investment Management L.P. increased its stake in Callon Petroleum by 50.0% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 3,727,752 shares of the oil and natural gas company’s stock worth $16,179,000 after buying an additional 1,242,760 shares during the period. Balasa Dinverno & Foltz LLC increased its stake in Callon Petroleum by 415.4% in the 3rd quarter. Balasa Dinverno & Foltz LLC now owns 65,387 shares of the oil and natural gas company’s stock worth $284,000 after buying an additional 52,701 shares during the period. BBVA USA Bancshares Inc. purchased a new position in Callon Petroleum in the 3rd quarter worth about $458,000. Tower Research Capital LLC TRC increased its stake in Callon Petroleum by 3,967.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 138,866 shares of the oil and natural gas company’s stock worth $603,000 after buying an additional 135,452 shares during the period. Finally, First Trust Advisors LP increased its position in Callon Petroleum by 9.2% during the 3rd quarter. First Trust Advisors LP now owns 356,188 shares of the oil and natural gas company’s stock valued at $1,546,000 after purchasing an additional 29,926 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 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.

See Also: Bull Market

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

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