$88.24 Million in Sales Expected for Callon Petroleum Company (CPE) This Quarter
Wall Street analysts expect Callon Petroleum Company (NYSE:CPE) to post $88.24 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Callon Petroleum’s earnings, with the highest sales estimate coming in at $91.54 million and the lowest estimate coming in at $83.20 million. Callon Petroleum posted sales of $55.93 million in the same quarter last year, which suggests a positive year-over-year growth rate of 57.8%. The firm is expected to announce its next earnings report on Wednesday, November 1st.
On average, analysts expect that Callon Petroleum will report full year sales of $88.24 million for the current year, with estimates ranging from $347.00 million to $370.80 million. For the next financial year, analysts expect that the company will report sales of $530.69 million per share, with estimates ranging from $429.20 million to $599.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Callon Petroleum.
Callon Petroleum (NYSE:CPE) last released its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $83.89 million. During the same quarter last year, the company posted ($0.61) earnings per share. The company’s revenue was up 82.5% on a year-over-year basis.
A number of research analysts have weighed in on the company. Scotiabank reaffirmed a “buy” rating and set a $18.00 target price on shares of Callon Petroleum in a report on Monday, May 15th. ValuEngine lowered Callon Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, May 18th. Roth Capital set a $23.00 target price on Callon Petroleum and gave the company a “buy” rating in a report on Friday, May 26th. Credit Suisse Group reaffirmed an “outperform” rating and set a $18.00 target price on shares of Callon Petroleum in a report on Friday, June 2nd. Finally, BidaskClub raised Callon Petroleum from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Callon Petroleum presently has an average rating of “Buy” and an average target price of $17.54.
Callon Petroleum (CPE) opened at 9.54 on Friday. The company has a 50 day moving average of $10.46 and a 200 day moving average of $11.45. The firm has a market capitalization of $1.93 billion, a P/E ratio of 18.17 and a beta of 1.44. Callon Petroleum has a 1-year low of $9.34 and a 1-year high of $18.53.
A number of large investors have recently added to or reduced their stakes in CPE. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Callon Petroleum by 86.7% in the 1st 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 during the last quarter. FFT Wealth Management LLC bought a new stake in Callon Petroleum in the 2nd quarter worth approximately $113,000. Strs Ohio lifted its position in Callon Petroleum by 6.5% in the 1st 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 during the last quarter. Green Square Capital LLC bought a new stake in Callon Petroleum in the 1st quarter worth approximately $132,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Callon Petroleum in the 2nd quarter worth approximately $133,000.
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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