Q1 2018 EPS Estimates for Callon Petroleum Company (CPE) Decreased by Analyst
Callon Petroleum Company (NYSE:CPE) – Research analysts at KeyCorp decreased their Q1 2018 EPS estimates for Callon Petroleum in a research note issued on Monday. KeyCorp analyst C. Stevens now anticipates that the oil and natural gas company will post earnings per share of $0.14 for the quarter, down from their previous estimate of $0.15. KeyCorp also issued estimates for Callon Petroleum’s Q2 2018 earnings at $0.17 EPS, Q4 2018 earnings at $0.24 EPS and FY2018 earnings at $0.76 EPS.
Other equities analysts also recently issued reports about the stock. Scotiabank set a $15.00 price target on shares of Callon Petroleum and gave the stock a “buy” rating in a report on Saturday, July 1st. Northland Securities set a $18.00 price target on shares of Callon Petroleum and gave the stock a “buy” rating in a report on Monday, July 17th. BMO Capital Markets set a $15.00 price target on shares of Callon Petroleum and gave the stock a “buy” rating in a report on Monday, June 26th. Imperial Capital assumed coverage on shares of Callon Petroleum in a report on Tuesday, August 15th. They issued an “outperform” rating and a $16.00 price target on the stock. Finally, Seaport Global Securities downgraded shares of Callon Petroleum from a “buy” rating to a “neutral” rating and cut their price target for the stock from $19.00 to $10.00 in a report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $17.57.
Shares of Callon Petroleum (CPE) traded up 1.17% during trading on Thursday, hitting $11.22. 197,232 shares of the stock traded hands. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 21.37 and a beta of 1.43. The stock has a 50 day moving average price of $10.59 and a 200-day moving average price of $11.26. Callon Petroleum has a 1-year low of $9.34 and a 1-year high of $18.53.
Callon Petroleum (NYSE:CPE) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.02). The company had revenue of $82.30 million during the quarter, compared to the consensus estimate of $83.89 million. Callon Petroleum had a net margin of 34.61% and a return on equity of 4.16%. Callon Petroleum’s revenue for the quarter was up 82.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.61) earnings per share.
Several hedge funds have recently bought and sold shares of the stock. Fondren Management LP bought a new position in shares of Callon Petroleum in the second quarter worth approximately $106,000. Benefit Street Partners LLC bought a new position in shares of Callon Petroleum in the second quarter worth approximately $6,589,000. Phocas Financial Corp. increased its position in shares of Callon Petroleum by 4.7% in the second quarter. Phocas Financial Corp. now owns 720,960 shares of the oil and natural gas company’s stock worth $7,649,000 after purchasing an additional 32,166 shares during the last quarter. Hillcrest Asset Management LLC increased its position in shares of Callon Petroleum by 43.8% in the second quarter. Hillcrest Asset Management LLC now owns 967,100 shares of the oil and natural gas company’s stock worth $10,261,000 after purchasing an additional 294,660 shares during the last quarter. Finally, 1st Global Advisors Inc. increased its position in shares of Callon Petroleum by 6.0% in the second quarter. 1st Global Advisors Inc. now owns 33,366 shares of the oil and natural gas company’s stock worth $354,000 after purchasing an additional 1,879 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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