SunTrust Banks Analysts Increase Earnings Estimates for Callon Petroleum (CPE)

Callon Petroleum (NYSE:CPE) – Equities research analysts at SunTrust Banks increased their FY2018 EPS estimates for Callon Petroleum in a research report issued on Wednesday, November 7th, Zacks Investment Research reports. SunTrust Banks analyst N. Dingmann now expects that the oil and natural gas company will earn $0.88 per share for the year, up from their prior estimate of $0.85. SunTrust Banks also issued estimates for Callon Petroleum’s Q4 2018 earnings at $0.26 EPS and FY2020 earnings at $2.03 EPS.

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

Other analysts also recently issued reports about the company. TheStreet raised Callon Petroleum from a “c+” rating to a “b-” rating in a report on Monday, September 17th. Williams Capital set a $16.00 price target on Callon Petroleum and gave the stock a “buy” rating in a report on Wednesday, November 7th. Zacks Investment Research raised Callon Petroleum from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Tuesday, October 23rd. KLR Group reissued a “buy” rating and issued a $16.00 target price on shares of Callon Petroleum in a report on Monday, August 20th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $20.00 target price on shares of Callon Petroleum in a report on Sunday, August 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the stock. Callon Petroleum presently has an average rating of “Buy” and an average price target of $16.32.

NYSE CPE traded up $0.33 during trading on Friday, reaching $8.88. 8,952,000 shares of the company’s stock were exchanged, compared to its average volume of 4,944,129. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 21.14 and a beta of 1.06. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.57 and a quick ratio of 0.57. Callon Petroleum has a 1 year low of $8.50 and a 1 year high of $14.65.

In other news, VP Mitzi P. Conn sold 15,000 shares of the business’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 sale, the vice president now directly owns 42,062 shares of the company’s stock, valued at approximately $494,649.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.63% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of CPE. First Hawaiian Bank purchased a new stake in Callon Petroleum during the 3rd quarter valued at approximately $107,000. Prospera Financial Services Inc purchased a new stake in Callon Petroleum during the 2nd quarter valued at approximately $113,000. Strs Ohio raised its stake in Callon Petroleum by 139.0% during the 3rd quarter. Strs Ohio now owns 9,800 shares of the oil and natural gas company’s stock valued at $117,000 after acquiring an additional 5,700 shares during the last quarter. MML Investors Services LLC purchased a new stake in Callon Petroleum during the 3rd quarter valued at approximately $144,000. Finally, Marietta Investment Partners LLC purchased a new stake in Callon Petroleum during the 2nd quarter valued at approximately $153,000.

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.

See Also: Initial Public Offering (IPO)

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

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