Callon Petroleum Company (CPE) Expected to Post Q3 2017 Earnings of $0.08 Per Share
Callon Petroleum Company (NYSE:CPE) – Research analysts at KeyCorp cut their Q3 2017 earnings estimates for Callon Petroleum in a note issued to investors on Monday. KeyCorp analyst C. Stevens now forecasts that the oil and natural gas company will post earnings of $0.08 per share for the quarter, down from their prior estimate of $0.10. KeyCorp also issued estimates for Callon Petroleum’s Q4 2017 earnings at $0.13 EPS and FY2017 earnings at $0.40 EPS.
Callon Petroleum (NYSE:CPE) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.02). The firm had revenue of $82.30 million for the quarter, compared to the consensus estimate of $83.89 million. Callon Petroleum had a return on equity of 4.16% and a net margin of 34.61%. The business’s revenue for the quarter was up 82.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.61) earnings per share. COPYRIGHT VIOLATION WARNING: “Callon Petroleum Company (CPE) Expected to Post Q3 2017 Earnings of $0.08 Per Share” was first reported by American Banking News and is owned by of American Banking News. If you are accessing this article on another domain, it was stolen and reposted in violation of international copyright & trademark law. The legal version of this article can be accessed at https://www.americanbankingnews.com/2017/10/04/callon-petroleum-company-cpe-expected-to-post-q3-2017-earnings-of-0-08-per-share.html.
Several other research analysts have also issued reports on CPE. Northland Securities set a $18.00 price objective on Callon Petroleum and gave the stock a “buy” rating in a research note on Monday, July 17th. Citigroup Inc. cut their price objective on Callon Petroleum from $17.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, July 13th. Barclays PLC restated a “buy” rating and issued a $14.00 target price on shares of Callon Petroleum in a research note on Friday, July 7th. Scotiabank set a $15.00 target price on shares of Callon Petroleum and gave the company a “buy” rating in a research note on Saturday, July 1st. Finally, Tudor Pickering initiated coverage on shares of Callon Petroleum in a report on Tuesday, June 20th. They issued a “buy” rating and a $26.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $17.54.
Shares of Callon Petroleum (NYSE CPE) opened at 11.40 on Wednesday. Callon Petroleum has a 1-year low of $9.34 and a 1-year high of $18.53. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 21.71 and a beta of 1.43. The firm’s 50-day moving average is $10.57 and its 200 day moving average is $11.26.
Several hedge funds and other institutional investors have recently modified their holdings of CPE. Vanguard Group Inc. grew its position in shares of Callon Petroleum by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 16,158,249 shares of the oil and natural gas company’s stock worth $212,642,000 after buying an additional 667,220 shares during the period. FMR LLC raised its stake in shares of Callon Petroleum by 6.2% during the second quarter. FMR LLC now owns 16,132,114 shares of the oil and natural gas company’s stock worth $171,162,000 after buying an additional 934,847 shares during the last quarter. BlackRock Inc. raised its stake in shares of Callon Petroleum by 7.0% during the second quarter. BlackRock Inc. now owns 12,953,769 shares of the oil and natural gas company’s stock worth $137,439,000 after buying an additional 851,876 shares during the last quarter. State Street Corp raised its stake in shares of Callon Petroleum by 11.4% during the second quarter. State Street Corp now owns 7,845,502 shares of the oil and natural gas company’s stock worth $83,244,000 after buying an additional 802,785 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Callon Petroleum by 1.3% during the second quarter. Goldman Sachs Group Inc. now owns 7,426,037 shares of the oil and natural gas company’s stock worth $78,790,000 after buying an additional 92,434 shares during the last quarter.
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. The Company focuses on the acquisition and development of unconventional oil and natural gas reserves in the Permian Basin.
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