Callon Petroleum (NYSE:CPE) – Equities research analysts at Imperial Capital lifted their FY2018 earnings per share (EPS) estimates for shares of Callon Petroleum in a research report issued on Thursday, November 8th. Imperial Capital analyst I. Haas now expects that the oil and natural gas company will earn $0.91 per share for the year, up from their prior estimate of $0.84. Imperial Capital also issued estimates for Callon Petroleum’s FY2019 earnings at $1.47 EPS.

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

A number of other research firms also recently issued reports on CPE. ValuEngine raised Callon Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd. Piper Jaffray Companies reissued a “buy” rating and set a $20.00 price target on shares of Callon Petroleum in a research report on Sunday, August 12th. Zacks Investment Research raised Callon Petroleum from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Wednesday, July 18th. Oppenheimer initiated coverage on Callon Petroleum in a research report on Wednesday, October 3rd. They set an “outperform” rating and a $16.00 price target on the stock. Finally, Barclays initiated coverage on Callon Petroleum in a research report on Wednesday, August 29th. They set an “overweight” rating and a $14.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $16.14.

CPE stock opened at $10.41 on Friday. Callon Petroleum has a twelve month low of $9.23 and a twelve month high of $14.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.61 and a current ratio of 0.57. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 24.79 and a beta of 1.06.

Several large investors have recently made changes to their positions in the company. FMR LLC raised its position in Callon Petroleum by 6.9% during the third quarter. FMR LLC now owns 2,933,185 shares of the oil and natural gas company’s stock valued at $35,169,000 after acquiring an additional 188,291 shares in the last quarter. American International Group Inc. raised its position in Callon Petroleum by 2.8% during the third quarter. American International Group Inc. now owns 610,005 shares of the oil and natural gas company’s stock valued at $7,314,000 after acquiring an additional 16,515 shares in the last quarter. BlackRock Inc. raised its position in Callon Petroleum by 2.9% during the third quarter. BlackRock Inc. now owns 25,561,708 shares of the oil and natural gas company’s stock valued at $306,486,000 after acquiring an additional 731,444 shares in the last quarter. Gluskin Sheff & Assoc Inc. raised its position in Callon Petroleum by 7.7% during the third quarter. Gluskin Sheff & Assoc Inc. now owns 279,780 shares of the oil and natural gas company’s stock valued at $3,355,000 after acquiring an additional 19,940 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Callon Petroleum by 26.7% during the third quarter. PNC Financial Services Group Inc. now owns 32,568 shares of the oil and natural gas company’s stock valued at $389,000 after acquiring an additional 6,856 shares in the last quarter.

In other news, VP Mitzi P. Conn sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $11.76, for a total value of $176,400.00. Following the completion of the transaction, the vice president now directly owns 42,062 shares in the company, valued at $494,649.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.82% of the company’s stock.

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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