FY2017 Earnings Forecast for Callon Petroleum (CPE) Issued By KeyCorp

Callon Petroleum (NYSE:CPE) – Research analysts at KeyCorp boosted their FY2017 earnings per share estimates for shares of Callon Petroleum in a report issued on Sunday. KeyCorp analyst C. Stevens now forecasts that the oil and natural gas company will post earnings per share of $0.41 for the year, up from their previous forecast of $0.40. KeyCorp also issued estimates for Callon Petroleum’s Q1 2018 earnings at $0.22 EPS, Q2 2018 earnings at $0.24 EPS, Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.29 EPS, FY2018 earnings at $1.01 EPS, Q1 2019 earnings at $0.32 EPS, Q2 2019 earnings at $0.36 EPS, Q3 2019 earnings at $0.41 EPS and Q4 2019 earnings at $0.43 EPS.

A number of other research analysts have also recently issued reports on CPE. Citigroup cut shares of Callon Petroleum from a “buy” rating to a “neutral” rating and set a $13.00 target price for the company. in a report on Wednesday, January 3rd. Mizuho set a $15.00 target price on shares of Callon Petroleum and gave the company a “buy” rating in a report on Tuesday, January 16th. Piper Jaffray Companies started coverage on shares of Callon Petroleum in a report on Thursday, January 4th. They issued an “overweight” rating and a $15.00 target price for the company. BMO Capital Markets set a $15.00 target price on shares of Callon Petroleum and gave the company a “buy” rating in a report on Tuesday, October 10th. Finally, Jefferies Group started coverage on shares of Callon Petroleum in a report on Monday, October 9th. They issued a “buy” rating and a $16.00 target price for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $16.70.

Shares of Callon Petroleum (NYSE CPE) opened at $12.79 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market cap of $2,535.06, a PE ratio of 29.07 and a beta of 1.32. Callon Petroleum has a 12-month low of $9.34 and a 12-month high of $15.81.

Callon Petroleum (NYSE:CPE) last announced its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.01). The firm had revenue of $84.60 million during the quarter, compared to analyst estimates of $81.98 million. Callon Petroleum had a net margin of 30.20% and a return on equity of 4.05%. Callon Petroleum’s revenue for the quarter was up 51.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS.

Several institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC increased its stake in shares of Callon Petroleum by 6.2% during the 2nd quarter. FMR LLC now owns 16,132,114 shares of the oil and natural gas company’s stock worth $171,162,000 after purchasing an additional 934,847 shares in the last quarter. BlackRock Inc. increased its stake in shares of Callon Petroleum by 7.0% during the 2nd quarter. BlackRock Inc. now owns 12,953,769 shares of the oil and natural gas company’s stock worth $137,439,000 after purchasing an additional 851,876 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Callon Petroleum by 47.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 10,625,848 shares of the oil and natural gas company’s stock worth $119,434,000 after purchasing an additional 3,440,342 shares in the last quarter. State Street Corp increased its stake in shares of Callon Petroleum by 11.4% during the 2nd quarter. State Street Corp now owns 7,845,502 shares of the oil and natural gas company’s stock worth $83,244,000 after purchasing an additional 802,785 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Callon Petroleum by 1.3% during the 2nd 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 purchasing an additional 92,434 shares in the last quarter.

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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.

Earnings History and Estimates for Callon Petroleum (NYSE:CPE)

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