$0.20 EPS Expected for Callon Petroleum (NYSE:CPE) This Quarter

Brokerages predict that Callon Petroleum (NYSE:CPE) will announce earnings of $0.20 per share for the current quarter, Zacks Investment Research reports. Eleven analysts have made estimates for Callon Petroleum’s earnings, with the highest EPS estimate coming in at $0.24 and the lowest estimate coming in at $0.16. Callon Petroleum posted earnings per share of $0.23 in the same quarter last year, which suggests a negative year over year growth rate of 13%. The business is expected to announce its next quarterly earnings results on Monday, August 5th.

On average, analysts expect that Callon Petroleum will report full-year earnings of $0.81 per share for the current financial year, with EPS estimates ranging from $0.54 to $1.03. For the next fiscal year, analysts anticipate that the company will post earnings of $1.11 per share, with EPS estimates ranging from $0.62 to $1.50. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Callon Petroleum.

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

A number of equities research analysts have commented on the company. Williams Capital set a $12.00 price objective on Callon Petroleum and gave the stock a “buy” rating in a research report on Thursday, June 13th. Morgan Stanley set a $8.00 price objective on Callon Petroleum and gave the stock a “hold” rating in a research report on Monday, June 24th. SunTrust Banks set a $12.00 price target on Callon Petroleum and gave the company a “buy” rating in a report on Tuesday, April 23rd. Capital One Financial lowered Callon Petroleum from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 20th. Finally, Zacks Investment Research upgraded Callon Petroleum from a “strong sell” rating to a “hold” rating in a report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $12.88.

Several hedge funds have recently modified their holdings of CPE. Oregon Public Employees Retirement Fund raised its stake in shares of Callon Petroleum by 3.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 90,095 shares of the oil and natural gas company’s stock valued at $585,000 after acquiring an additional 2,946 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Callon Petroleum by 92.1% in the 4th quarter. Prudential Financial Inc. now owns 912,330 shares of the oil and natural gas company’s stock valued at $5,921,000 after acquiring an additional 437,310 shares in the last quarter. FDx Advisors Inc. bought a new position in shares of Callon Petroleum in the 4th quarter valued at approximately $160,000. First Trust Advisors LP raised its stake in shares of Callon Petroleum by 65.1% in the 4th quarter. First Trust Advisors LP now owns 161,948 shares of the oil and natural gas company’s stock valued at $1,051,000 after acquiring an additional 63,832 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Callon Petroleum by 25.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 40,835 shares of the oil and natural gas company’s stock valued at $265,000 after acquiring an additional 8,267 shares in the last quarter.

Shares of NYSE CPE opened at $6.59 on Wednesday. Callon Petroleum has a one year low of $5.57 and a one year high of $13.09. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 8.04, a PEG ratio of 0.70 and a beta of 1.55. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.53 and a quick ratio of 0.53. The business’s 50-day simple moving average is $6.80.

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 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.

Featured Story: What does the Dow Jones Industrial Average (DJIA) measure?

Get a free copy of the Zacks research report on Callon Petroleum (CPE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Callon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.