Callon Petroleum (CPE) to Post Q2 2019 Earnings of $0.24 Per Share, Piper Jaffray Companies Forecasts

Callon Petroleum (NYSE:CPE) – Research analysts at Piper Jaffray Companies raised their Q2 2019 EPS estimates for shares of Callon Petroleum in a research report issued to clients and investors on Thursday, April 18th, according to Zacks Investment Research. Piper Jaffray Companies analyst K. Harrison now expects that the oil and natural gas company will earn $0.24 per share for the quarter, up from their previous estimate of $0.23. Piper Jaffray Companies also issued estimates for Callon Petroleum’s Q3 2019 earnings at $0.29 EPS, Q4 2019 earnings at $0.32 EPS, FY2019 earnings at $1.01 EPS, Q1 2020 earnings at $0.43 EPS, Q2 2020 earnings at $0.39 EPS, Q3 2020 earnings at $0.39 EPS and Q4 2020 earnings at $0.40 EPS.

Callon Petroleum (NYSE:CPE) last announced its quarterly earnings data on Tuesday, February 26th. The oil and natural gas company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.05). The business had revenue of $161.90 million during the quarter, compared to analyst estimates of $164.50 million. Callon Petroleum had a net margin of 36.70% and a return on equity of 7.55%.

CPE has been the subject of a number of other research reports. Imperial Capital restated an “outperform” rating and issued a $15.00 price objective (up previously from $12.00) on shares of Callon Petroleum in a report on Wednesday, February 13th. Williams Capital restated a “buy” rating and issued a $12.00 price objective on shares of Callon Petroleum in a report on Tuesday, April 9th. Zacks Investment Research upgraded shares of Callon Petroleum from a “strong sell” rating to a “hold” rating in a report on Monday, March 18th. Barclays cut shares of Callon Petroleum from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $14.00 to $10.00 in a report on Wednesday, January 16th. Finally, Morgan Stanley started coverage on shares of Callon Petroleum in a report on Thursday, March 21st. They issued an “equal weight” rating and a $9.00 price objective for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $13.81.

Shares of CPE stock traded down $0.12 during trading on Friday, reaching $7.98. The company’s stock had a trading volume of 5,975,021 shares, compared to its average volume of 5,832,437. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 0.53. The stock has a market capitalization of $1.85 billion, a P/E ratio of 9.73, a price-to-earnings-growth ratio of 0.80 and a beta of 1.50. Callon Petroleum has a 1-year low of $5.57 and a 1-year high of $14.27.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Callon Petroleum by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 20,395,498 shares of the oil and natural gas company’s stock worth $244,542,000 after acquiring an additional 615,053 shares in the last quarter. Man Group plc purchased a new stake in shares of Callon Petroleum during the 3rd quarter worth approximately $612,000. Tributary Capital Management LLC lifted its position in shares of Callon Petroleum by 22.2% during the 4th quarter. Tributary Capital Management LLC now owns 1,815,665 shares of the oil and natural gas company’s stock worth $11,784,000 after buying an additional 330,401 shares during the last quarter. Ninepoint Partners LP purchased a new stake in shares of Callon Petroleum during the 4th quarter worth approximately $5,192,000. Finally, AMI Asset Management Corp lifted its position in shares of Callon Petroleum by 0.5% during the 4th quarter. AMI Asset Management Corp now owns 460,701 shares of the oil and natural gas company’s stock worth $2,990,000 after buying an additional 2,467 shares during the last quarter.

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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