FY2016 EPS Estimates for Callon Petroleum Co. (CPE) Decreased by Seaport Global Securities
Callon Petroleum Co. (NYSE:CPE) – Equities research analysts at Seaport Global Securities cut their FY2016 EPS estimates for Callon Petroleum in a report released on Wednesday. Seaport Global Securities analyst M. Kelly now anticipates that the firm will earn $0.24 per share for the year, down from their prior estimate of $0.26. Seaport Global Securities also issued estimates for Callon Petroleum’s Q2 2017 earnings at $0.10 EPS, Q3 2017 earnings at $0.11 EPS, Q4 2017 earnings at $0.13 EPS and FY2017 earnings at $0.43 EPS.
Several other research firms have also weighed in on CPE. Wunderlich lifted their price objective on Callon Petroleum from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th. Zacks Investment Research lowered Callon Petroleum from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Imperial Capital lifted their price objective on Callon Petroleum from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, September 30th. BMO Capital Markets initiated coverage on Callon Petroleum in a research note on Thursday, September 22nd. They issued an “outperform” rating and a $20.00 price objective on the stock. Finally, Citigroup Inc. initiated coverage on Callon Petroleum in a research note on Wednesday, June 29th. They issued a “neutral” rating and a $12.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Callon Petroleum presently has a consensus rating of “Buy” and an average price target of $15.58.
Shares of Callon Petroleum (NYSE:CPE) traded down 1.90% during trading on Thursday, reaching $15.50. The company had a trading volume of 1,750,195 shares. The company’s market capitalization is $2.03 billion. Callon Petroleum has a 52-week low of $4.21 and a 52-week high of $16.36. The firm has a 50-day moving average price of $14.89 and a 200-day moving average price of $12.09.
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Callon Petroleum (NYSE:CPE) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.65. The business earned $45.14 million during the quarter, compared to analyst estimates of $47.75 million. Callon Petroleum had a negative net margin of 233.91% and a positive return on equity of 3.77%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period last year, the company earned ($0.11) earnings per share.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its position in Callon Petroleum by 13.1% in the first quarter. Legal & General Group Plc now owns 12,043 shares of the company’s stock worth $106,000 after buying an additional 1,395 shares in the last quarter. US Bancorp DE raised its position in Callon Petroleum by 40.4% in the second quarter. US Bancorp DE now owns 9,489 shares of the company’s stock worth $107,000 after buying an additional 2,730 shares in the last quarter. Hsbc Holdings PLC bought a new position in Callon Petroleum during the second quarter worth about $115,000. Capital Fund Management S.A. bought a new position in Callon Petroleum during the second quarter worth about $116,000. Finally, Genesee Valley Trust Co. bought a new position in Callon Petroleum during the second quarter worth about $119,000. Institutional investors and hedge funds own 83.09% of the company’s stock.
About Callon Petroleum
Callon Petroleum Company is an independent oil and natural gas company. The Company is engaged in the exploration, development, acquisition and production of oil and natural gas properties. It focuses on unconventional, onshore, oil and natural gas reserves in the Permian Basin in West Texas and the Midland Basin.
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