Callon Petroleum (NYSE:CPE) – Equities research analysts at Piper Jaffray Companies cut their FY2018 earnings per share estimates for Callon Petroleum in a report released on Wednesday, January 9th. Piper Jaffray Companies analyst K. Harrison now expects that the oil and natural gas company will post earnings of $0.87 per share for the year, down from their prior estimate of $0.92. Piper Jaffray Companies also issued estimates for Callon Petroleum’s Q4 2018 earnings at $0.25 EPS, FY2019 earnings at $0.92 EPS, Q1 2020 earnings at $0.28 EPS, Q2 2020 earnings at $0.29 EPS, Q3 2020 earnings at $0.31 EPS, Q4 2020 earnings at $0.33 EPS and FY2020 earnings at $1.21 EPS.

Several other research firms also recently issued reports on CPE. Seaport Global Securities upgraded shares of Callon Petroleum from a “neutral” rating to a “buy” rating and cut their price objective for the company from $16.00 to $13.00 in a report on Monday, December 10th. ValuEngine downgraded shares of Callon Petroleum from a “sell” rating to a “strong sell” rating in a report on Saturday, December 1st. Zacks Investment Research restated a “hold” rating on shares of Callon Petroleum in a report on Monday, November 12th. Williams Capital restated a “buy” rating and set a $12.00 price objective on shares of Callon Petroleum in a report on Wednesday, December 12th. Finally, Evercore ISI upgraded shares of Callon Petroleum to an “outperform” rating in a report on Monday, December 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $15.42.

CPE opened at $8.49 on Friday. Callon Petroleum has a 52-week low of $5.57 and a 52-week high of $14.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a market cap of $1.95 billion, a PE ratio of 20.21, a P/E/G ratio of 0.22 and a beta of 1.32.

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

A number of large investors have recently modified their holdings of CPE. BlackRock Inc. increased its holdings in Callon Petroleum by 14.9% in the 2nd quarter. BlackRock Inc. now owns 24,830,264 shares of the oil and natural gas company’s stock worth $266,676,000 after buying an additional 3,218,124 shares during the period. Glenmede Trust Co. NA increased its holdings in Callon Petroleum by 54.2% in the 2nd quarter. Glenmede Trust Co. NA now owns 5,543,836 shares of the oil and natural gas company’s stock worth $59,541,000 after buying an additional 1,949,736 shares during the period. Point72 Asset Management L.P. acquired a new position in Callon Petroleum in the 2nd quarter worth approximately $13,964,000. Bank of America Corp DE grew its stake in shares of Callon Petroleum by 82.7% during the 2nd quarter. Bank of America Corp DE now owns 2,549,248 shares of the oil and natural gas company’s stock worth $27,378,000 after purchasing an additional 1,154,261 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Callon Petroleum by 21.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,187,203 shares of the oil and natural gas company’s stock worth $66,452,000 after purchasing an additional 1,095,098 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. 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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