KeyCorp Weighs in on Callon Petroleum Company’s FY2017 Earnings (CPE)
Callon Petroleum Company (NYSE:CPE) – KeyCorp lowered their FY2017 earnings estimates for Callon Petroleum in a note issued to investors on Wednesday. KeyCorp analyst C. Stevens now forecasts that the oil and natural gas company will earn $0.38 per share for the year, down from their prior estimate of $0.40. KeyCorp also issued estimates for Callon Petroleum’s Q4 2017 earnings at $0.12 EPS, Q3 2018 earnings at $0.19 EPS and FY2018 earnings at $0.74 EPS.
Callon Petroleum (NYSE:CPE) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). Callon Petroleum had a net margin of 34.61% and a return on equity of 4.16%. The company had revenue of $82.30 million for the quarter, compared to analyst estimates of $83.89 million. During the same period in the previous year, the business earned ($0.61) EPS. The firm’s revenue was up 82.5% on a year-over-year basis.
A number of other equities analysts have also recently commented on CPE. Scotiabank set a $15.00 price target on Callon Petroleum and gave the stock a “buy” rating in a report on Saturday, July 1st. Bank of America Corporation initiated coverage on shares of Callon Petroleum in a research report on Monday. They set a “buy” rating for the company. Citigroup Inc. cut their price objective on shares of Callon Petroleum from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, July 13th. Jefferies Group LLC initiated coverage on shares of Callon Petroleum in a research report on Monday, October 9th. They set a “buy” rating and a $16.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Callon Petroleum from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $17.50.
Shares of Callon Petroleum (NYSE CPE) traded up 0.18% during mid-day trading on Friday, reaching $10.94. The company’s stock had a trading volume of 1,093,414 shares. Callon Petroleum has a 52-week low of $9.34 and a 52-week high of $18.53. The company has a market capitalization of $2.21 billion, a PE ratio of 20.84 and a beta of 1.43. The firm’s 50 day moving average is $10.90 and its 200-day moving average is $11.18.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CPE. Fondren Management LP acquired a new stake in shares of Callon Petroleum in the second quarter valued at approximately $106,000. FFT Wealth Management LLC acquired a new stake in shares of Callon Petroleum in the second quarter valued at approximately $113,000. Green Square Capital LLC acquired a new stake in shares of Callon Petroleum in the first quarter valued at approximately $132,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Callon Petroleum in the second quarter valued at approximately $133,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Callon Petroleum in the first quarter valued at approximately $143,000.
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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