Imperial Capital Analysts Lower Earnings Estimates for Callon Petroleum (NYSE:CPE)

Callon Petroleum (NYSE:CPE) – Equities researchers at Imperial Capital dropped their Q4 2019 EPS estimates for shares of Callon Petroleum in a note issued to investors on Monday, July 15th. Imperial Capital analyst I. Haas now expects that the oil and natural gas company will post earnings of $0.22 per share for the quarter, down from their previous forecast of $0.25. Imperial Capital has a “In-Line” rating and a $11.00 price target on the stock. Imperial Capital also issued estimates for Callon Petroleum’s Q1 2020 earnings at $0.27 EPS, Q2 2020 earnings at $0.27 EPS, Q3 2020 earnings at $0.29 EPS, Q4 2020 earnings at $0.32 EPS and FY2020 earnings at $1.15 EPS.

Several other research firms also recently commented on CPE. Capital One Financial raised Cimarex Energy from an “equal weight” rating to an “overweight” rating in a report on Thursday, May 23rd. SunTrust Banks set a $75.00 price target on Cimarex Energy and gave the stock a “hold” rating in a research note on Tuesday, April 23rd. Williams Capital decreased their price target on Callon Petroleum from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday. Stephens set a $37.00 price target on Talos Energy and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Finally, Roth Capital set a $12.00 price target on Callon Petroleum and gave the stock a “buy” rating in a research note on Friday, June 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seventeen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $12.33.

Callon Petroleum stock opened at $4.80 on Wednesday. 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 business has a fifty day moving average of $6.26. Callon Petroleum has a 12 month low of $4.73 and a 12 month high of $13.09. The company has a market capitalization of $1.16 billion, a P/E ratio of 5.85, a price-to-earnings-growth ratio of 0.66 and a beta of 1.49.

Callon Petroleum (NYSE:CPE) last released its earnings results on Monday, May 6th. The oil and natural gas company reported $0.16 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $153.05 million for the quarter, compared to the consensus estimate of $144.68 million. During the same period in the previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year.

Institutional investors have recently bought and sold shares of the stock. CWM Advisors LLC raised its position in Callon Petroleum by 29.3% during the second quarter. CWM Advisors LLC now owns 26,455 shares of the oil and natural gas company’s stock valued at $174,000 after purchasing an additional 5,995 shares during the period. Tributary Capital Management LLC raised its position in Callon Petroleum by 6.7% during the second quarter. Tributary Capital Management LLC now owns 2,238,659 shares of the oil and natural gas company’s stock valued at $14,753,000 after purchasing an additional 140,613 shares during the period. First National Bank of Omaha raised its position in Callon Petroleum by 11.6% during the second quarter. First National Bank of Omaha now owns 181,403 shares of the oil and natural gas company’s stock valued at $1,195,000 after purchasing an additional 18,839 shares during the period. Belpointe Asset Management LLC purchased a new stake in Callon Petroleum during the first quarter valued at approximately $469,000. Finally, RR Advisors LLC raised its position in Callon Petroleum by 7.8% during the first quarter. RR Advisors LLC now owns 690,000 shares of the oil and natural gas company’s stock valued at $5,210,000 after purchasing an additional 50,000 shares during the period.

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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