Seaport Global Securities Analysts Cut Earnings Estimates for Callon Petroleum Company (CPE)
Callon Petroleum Company (NYSE:CPE) – Research analysts at Seaport Global Securities decreased their FY2017 earnings per share estimates for Callon Petroleum in a report issued on Tuesday. Seaport Global Securities analyst M. Kelly now anticipates that the oil and natural gas company will post earnings per share of $0.46 for the year, down from their previous forecast of $0.49. Seaport Global Securities has a “Neutral” rating and a $10.00 price target on the stock.
Callon Petroleum (NYSE:CPE) last posted 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 business had revenue of $82.30 million during 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 was up 82.5% on a year-over-year basis. During the same period last year, the business posted ($0.61) earnings per share. COPYRIGHT VIOLATION WARNING: This piece of content was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another website, it was stolen and republished in violation of international copyright and trademark laws. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/10/05/seaport-global-securities-analysts-cut-earnings-estimates-for-callon-petroleum-company-cpe.html.
Other equities analysts also recently issued reports about the stock. BMO Capital Markets set a $15.00 price target on shares of Callon Petroleum and gave the stock a “buy” rating in a research note on Monday, June 26th. Tudor Pickering started coverage on shares of Callon Petroleum in a research note on Tuesday, June 20th. They issued a “buy” rating and a $26.00 price target for the company. Northland Securities set a $18.00 price target on shares of Callon Petroleum and gave the stock a “buy” rating in a research note on Monday, July 17th. Citigroup Inc. decreased their price target on shares of Callon Petroleum from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, July 13th. Finally, Barclays PLC reissued a “buy” rating and issued a $14.00 price target on shares of Callon Petroleum in a research note on Friday, July 7th. One investment 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 currently has an average rating of “Buy” and a consensus target price of $17.57.
Shares of Callon Petroleum (NYSE CPE) opened at 11.09 on Thursday. Callon Petroleum has a 52 week low of $9.34 and a 52 week high of $18.53. The stock has a 50 day moving average price of $10.59 and a 200 day moving average price of $11.26. The firm has a market capitalization of $2.24 billion, a P/E ratio of 21.12 and a beta of 1.43.
Several large investors have recently bought and sold shares of CPE. Strs Ohio grew its holdings in shares of Callon Petroleum by 6.5% during the first quarter. Strs Ohio now owns 9,800 shares of the oil and natural gas company’s stock valued at $128,000 after buying an additional 600 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Callon Petroleum by 25.3% during the first quarter. Great West Life Assurance Co. Can now owns 20,800 shares of the oil and natural gas company’s stock valued at $273,000 after buying an additional 4,200 shares during the last quarter. Comerica Bank grew its holdings in shares of Callon Petroleum by 12.4% during the first quarter. Comerica Bank now owns 174,059 shares of the oil and natural gas company’s stock valued at $2,070,000 after buying an additional 19,237 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Callon Petroleum by 86.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,389 shares of the oil and natural gas company’s stock valued at $110,000 after buying an additional 3,896 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new stake in shares of Callon Petroleum during the first quarter valued at approximately $381,000.
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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