Equities Analysts Offer Predictions for Callon Petroleum’s Q4 2018 Earnings (CPE)

Callon Petroleum (NYSE:CPE) – Jefferies Financial Group decreased their Q4 2018 earnings per share (EPS) estimates for Callon Petroleum in a research note issued to investors on Monday, July 9th. Jefferies Financial Group analyst M. Lear now anticipates that the oil and natural gas company will post earnings per share of $0.31 for the quarter, down from their prior forecast of $0.32. Jefferies Financial Group has a “Buy” rating and a $18.00 price objective on the stock. Jefferies Financial Group also issued estimates for Callon Petroleum’s Q3 2019 earnings at $0.31 EPS, Q4 2019 earnings at $0.41 EPS, FY2019 earnings at $1.33 EPS, Q1 2020 earnings at $0.46 EPS, Q2 2020 earnings at $0.49 EPS and FY2020 earnings at $2.03 EPS.

Several other brokerages have also recently issued reports on CPE. ValuEngine raised shares of Callon Petroleum from a “hold” rating to a “buy” rating in a research note on Wednesday, May 9th. KeyCorp boosted their target price on shares of Callon Petroleum from $15.00 to $16.00 and gave the company a “buy” rating in a report on Monday, April 23rd. SunTrust Banks set a $18.00 target price on shares of Callon Petroleum and gave the company a “buy” rating in a report on Monday, April 16th. Stifel Nicolaus set a $20.00 target price on shares of Callon Petroleum and gave the company a “buy” rating in a report on Wednesday, March 28th. Finally, TheStreet upgraded shares of Callon Petroleum from a “c+” rating to a “b-” rating in a report on Wednesday, April 4th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. Callon Petroleum presently has a consensus rating of “Buy” and a consensus price target of $16.00.

Shares of Callon Petroleum opened at $11.05 on Wednesday, according to Marketbeat. Callon Petroleum has a 12-month low of $9.34 and a 12-month high of $14.65. The stock has a market cap of $2.57 billion, a P/E ratio of 26.31 and a beta of 1.11. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.62 and a quick ratio of 0.62.

Callon Petroleum (NYSE:CPE) last announced its quarterly earnings data on Wednesday, May 2nd. The oil and natural gas company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. Callon Petroleum had a net margin of 31.28% and a return on equity of 5.98%. The company had revenue of $127.40 million during the quarter, compared to analysts’ expectations of $120.69 million. During the same quarter in the prior year, the company earned $0.22 EPS. Callon Petroleum’s revenue was up 56.5% compared to the same quarter last year.

Several hedge funds have recently modified their holdings of the company. Fisher Asset Management LLC lifted its holdings in shares of Callon Petroleum by 301.6% in the 2nd quarter. Fisher Asset Management LLC now owns 2,754,832 shares of the oil and natural gas company’s stock worth $29,587,000 after acquiring an additional 2,068,832 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of Callon Petroleum in the 2nd quarter worth approximately $174,000. Brown Advisory Inc. lifted its holdings in shares of Callon Petroleum by 77.0% in the 1st quarter. Brown Advisory Inc. now owns 80,282 shares of the oil and natural gas company’s stock worth $1,062,000 after acquiring an additional 34,934 shares during the last quarter. Suntrust Banks Inc. lifted its holdings in shares of Callon Petroleum by 5.9% in the 1st quarter. Suntrust Banks Inc. now owns 191,319 shares of the oil and natural gas company’s stock worth $2,532,000 after acquiring an additional 10,705 shares during the last quarter. Finally, Redwood Investments LLC lifted its holdings in shares of Callon Petroleum by 10.7% in the 1st quarter. Redwood Investments LLC now owns 1,243,189 shares of the oil and natural gas company’s stock worth $16,460,000 after acquiring an additional 120,293 shares during the last quarter.

About Callon Petroleum

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional onshore, oil, and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2017, its estimated net proved reserves totaled 137.0 million barrel of oil equivalent.

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

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