Callon Petroleum (NYSE:CPE) – Stock analysts at Oppenheimer raised their Q3 2019 earnings per share estimates for Callon Petroleum in a report released on Tuesday, October 22nd. Oppenheimer analyst T. Rezvan now forecasts that the oil and natural gas company will earn $0.18 per share for the quarter, up from their previous estimate of $0.15. Oppenheimer also issued estimates for Callon Petroleum’s Q4 2019 earnings at $0.20 EPS, FY2019 earnings at $0.71 EPS, Q1 2020 earnings at $0.28 EPS, Q2 2020 earnings at $0.28 EPS, Q3 2020 earnings at $0.29 EPS, Q4 2020 earnings at $0.30 EPS and FY2020 earnings at $1.15 EPS.
Callon Petroleum (NYSE:CPE) last posted its earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The firm had revenue of $167.05 million during the quarter, compared to the consensus estimate of $163.05 million. Callon Petroleum had a return on equity of 7.57% and a net margin of 35.72%. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.23 EPS.
Other research analysts also recently issued reports about the company. Northland Securities set a $7.00 target price on Callon Petroleum and gave the company a “buy” rating in a research report on Monday, October 21st. Williams Capital set a $8.00 target price on Callon Petroleum and gave the company a “buy” rating in a research report on Monday, October 21st. Evercore ISI reiterated a “hold” rating and set a $12.00 target price on shares of Callon Petroleum in a research report on Thursday, August 8th. Imperial Capital lowered their target price on Callon Petroleum from $16.00 to $11.00 and set an “in-line” rating for the company in a research report on Tuesday, July 16th. Finally, ValuEngine upgraded Callon Petroleum from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $10.35.
NYSE CPE opened at $4.12 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $940.97 million, a P/E ratio of 5.02, a P/E/G ratio of 0.51 and a beta of 1.42. Callon Petroleum has a one year low of $3.68 and a one year high of $11.47. The stock has a 50 day moving average price of $4.23 and a 200-day moving average price of $5.73.
Institutional investors and hedge funds have recently modified their holdings of the stock. Moody Aldrich Partners LLC lifted its position in Callon Petroleum by 52.9% in the second quarter. Moody Aldrich Partners LLC now owns 576,267 shares of the oil and natural gas company’s stock worth $3,798,000 after buying an additional 199,346 shares during the last quarter. Aviva PLC bought a new stake in shares of Callon Petroleum during the second quarter worth $1,121,000. Schroder Investment Management Group lifted its position in shares of Callon Petroleum by 15.9% during the second quarter. Schroder Investment Management Group now owns 1,868,992 shares of the oil and natural gas company’s stock worth $12,317,000 after purchasing an additional 256,679 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Callon Petroleum by 25.0% during the second quarter. Prudential Financial Inc. now owns 1,365,280 shares of the oil and natural gas company’s stock worth $8,997,000 after purchasing an additional 273,240 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Callon Petroleum by 10.7% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,392,232 shares of the oil and natural gas company’s stock worth $55,305,000 after purchasing an additional 811,139 shares during the last quarter.
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 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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