Callon Petroleum (CPE) to Post FY2019 Earnings of $0.82 Per Share, US Capital Advisors Forecasts

Callon Petroleum (NYSE:CPE) – Investment analysts at US Capital Advisors dropped their FY2019 EPS estimates for shares of Callon Petroleum in a research note issued to investors on Wednesday, March 27th, Zacks Investment Research reports. US Capital Advisors analyst C. Horwitz now expects that the oil and natural gas company will earn $0.82 per share for the year, down from their previous estimate of $1.06.

Several other research firms have also recently weighed in on CPE. Capital One Financial upgraded shares of Callon Petroleum from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, January 9th. Barclays lowered shares of Callon Petroleum from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $14.00 to $10.00 in a report on Wednesday, January 16th. Citigroup raised shares of Callon Petroleum from a “neutral” rating to a “buy” rating and set a $11.00 target price for the company in a report on Wednesday, January 23rd. Zacks Investment Research raised shares of Callon Petroleum from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 30th. Finally, Williams Capital reaffirmed a “buy” rating and set a $12.00 target price on shares of Callon Petroleum in a report on Monday, February 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. Callon Petroleum has an average rating of “Buy” and a consensus target price of $14.06.

CPE stock traded down $0.09 during trading on Friday, hitting $8.11. The company had a trading volume of 4,278,360 shares, compared to its average volume of 5,576,823. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.71 and a quick ratio of 0.71. Callon Petroleum has a 12 month low of $5.57 and a 12 month high of $14.65. The stock has a market capitalization of $1.85 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 0.84 and a beta of 1.53.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings data on Tuesday, February 26th. The oil and natural gas company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.05). Callon Petroleum had a return on equity of 8.11% and a net margin of 51.11%. The company had revenue of $161.90 million during the quarter, compared to the consensus estimate of $164.50 million.

Several hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its holdings in shares of Callon Petroleum by 119.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 25,695 shares of the oil and natural gas company’s stock valued at $194,000 after buying an additional 14,000 shares during the period. Tributary Capital Management LLC grew its holdings in shares of Callon Petroleum by 15.6% in the 1st quarter. Tributary Capital Management LLC now owns 2,098,046 shares of the oil and natural gas company’s stock valued at $15,840,000 after buying an additional 282,381 shares during the period. Virtu Financial LLC acquired a new position in shares of Callon Petroleum in the 1st quarter valued at $178,000. Geode Capital Management LLC grew its holdings in shares of Callon Petroleum by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 2,432,225 shares of the oil and natural gas company’s stock valued at $15,785,000 after buying an additional 192,920 shares during the period. Finally, Norges Bank acquired a new position in shares of Callon Petroleum in the 4th quarter valued at $6,803,000.

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.

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

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