Callon Petroleum (NYSE:CPE) Expected to Post Quarterly Sales of $166.41 Million

Analysts expect Callon Petroleum (NYSE:CPE) to announce sales of $166.41 million for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have made estimates for Callon Petroleum’s earnings, with the lowest sales estimate coming in at $155.20 million and the highest estimate coming in at $174.00 million. Callon Petroleum reported sales of $137.08 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 21.4%. The business is expected to report its next earnings report on Monday, August 5th.

On average, analysts expect that Callon Petroleum will report full year sales of $658.43 million for the current financial year, with estimates ranging from $624.00 million to $697.00 million. For the next year, analysts expect that the company will report sales of $799.97 million, with estimates ranging from $709.64 million to $887.00 million. Zacks’ sales averages are an average based on a survey of analysts that follow Callon Petroleum.

Callon Petroleum (NYSE:CPE) last issued its quarterly earnings results on Monday, May 6th. The oil and natural gas company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.01. The business had revenue of $153.05 million for the quarter, compared to analysts’ expectations of $144.68 million. Callon Petroleum had a net margin of 36.70% and a return on equity of 7.55%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 earnings per share.

CPE has been the topic of a number of research analyst reports. Stephens set a $11.00 price target on shares of Callon Petroleum and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Capital One Financial raised shares of Callon Petroleum from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. SunTrust Banks set a $12.00 price objective on shares of Callon Petroleum and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Williams Capital set a $12.00 price objective on shares of Callon Petroleum and gave the stock a “buy” rating in a research report on Thursday, June 13th. Finally, Morgan Stanley set a $8.00 price objective on shares of Callon Petroleum and gave the stock a “hold” rating in a research report on Monday. One analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have issued a buy rating to the stock. Callon Petroleum currently has an average rating of “Buy” and a consensus price target of $12.88.

Several hedge funds have recently added to or reduced their stakes in CPE. MHI Funds LLC lifted its position in Callon Petroleum by 3.6% in the 1st quarter. MHI Funds LLC now owns 35,979 shares of the oil and natural gas company’s stock valued at $272,000 after acquiring an additional 1,242 shares in the last quarter. Mason Street Advisors LLC lifted its position in Callon Petroleum by 1.7% in the 1st quarter. Mason Street Advisors LLC now owns 121,178 shares of the oil and natural gas company’s stock valued at $915,000 after acquiring an additional 1,971 shares in the last quarter. Advisor Group Inc. lifted its position in Callon Petroleum by 9.8% in the 4th quarter. Advisor Group Inc. now owns 25,415 shares of the oil and natural gas company’s stock valued at $165,000 after acquiring an additional 2,272 shares in the last quarter. Private Capital Group LLC lifted its position in Callon Petroleum by 135.5% in the 1st quarter. Private Capital Group LLC now owns 4,164 shares of the oil and natural gas company’s stock valued at $31,000 after acquiring an additional 2,396 shares in the last quarter. Finally, First National Bank of Omaha lifted its position in Callon Petroleum by 1.7% in the 1st quarter. First National Bank of Omaha now owns 162,564 shares of the oil and natural gas company’s stock valued at $1,227,000 after acquiring an additional 2,682 shares in the last quarter.

Shares of CPE opened at $6.37 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $1.44 billion, a PE ratio of 7.77, a P/E/G ratio of 0.68 and a beta of 1.55. The firm’s fifty day moving average price is $6.83. Callon Petroleum has a 12 month low of $5.57 and a 12 month high of $13.09.

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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