Zacks: Analysts Expect Callon Petroleum Company (CPE) Will Post Earnings of $0.12 Per Share
Brokerages expect Callon Petroleum Company (NYSE:CPE) to report earnings per share (EPS) of $0.12 for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Callon Petroleum’s earnings. The lowest EPS estimate is $0.08 and the highest is $0.16. Callon Petroleum reported earnings per share of $0.09 in the same quarter last year, which indicates a positive year-over-year growth rate of 33.3%. The business is scheduled to report its next quarterly earnings results on Wednesday, November 1st.
On average, analysts expect that Callon Petroleum will report full-year earnings of $0.48 per share for the current financial year, with EPS estimates ranging from $0.38 to $0.60. For the next fiscal year, analysts expect that the company will report earnings of $0.68 per share, with EPS estimates ranging from $0.33 to $1.14. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Callon Petroleum.
Callon Petroleum (NYSE:CPE) last announced its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by $0.02. Callon Petroleum had a net margin of 34.61% and a return on equity of 4.16%. The business had revenue of $82.30 million for the quarter, compared to analysts’ expectations of $83.89 million. During the same period in the prior year, the business earned ($0.61) earnings per share. The company’s revenue for the quarter was up 82.5% compared to the same quarter last year.
CPE has been the subject of several recent analyst reports. Credit Suisse Group restated an “outperform” rating and issued a $18.00 price target on shares of Callon Petroleum in a research note on Friday, June 2nd. Zacks Investment Research upgraded Callon Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Roth Capital set a $23.00 price target on Callon Petroleum and gave the stock a “buy” rating in a research note on Friday, May 26th. Royal Bank Of Canada set a $16.00 price target on Callon Petroleum and gave the stock a “buy” rating in a research note on Thursday, August 24th. Finally, Citigroup Inc. decreased their price target on Callon Petroleum from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $17.54.
Institutional investors and hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Callon Petroleum by 86.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,389 shares of the oil and natural gas company’s stock worth $110,000 after buying an additional 3,896 shares in the last quarter. Strs Ohio increased its position in Callon Petroleum by 6.5% in the first quarter. Strs Ohio now owns 9,800 shares of the oil and natural gas company’s stock worth $128,000 after buying an additional 600 shares in the last quarter. Green Square Capital LLC purchased a new stake in Callon Petroleum in the first quarter worth about $132,000. FFT Wealth Management LLC purchased a new stake in Callon Petroleum in the second quarter worth about $113,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Callon Petroleum in the first quarter worth about $143,000.
Shares of Callon Petroleum (CPE) traded down 3.193% during midday trading on Friday, hitting $9.855. The stock had a trading volume of 458,545 shares. The stock’s 50-day moving average is $10.50 and its 200-day moving average is $11.47. Callon Petroleum has a 12 month low of $9.61 and a 12 month high of $18.53. The stock has a market cap of $1.99 billion, a PE ratio of 18.771 and a beta of 1.44.
Callon Petroleum Company Profile
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. The Company focuses on the acquisition and development of unconventional oil and natural gas reserves in the Permian Basin.
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