Q3 2019 EPS Estimates for Callon Petroleum (NYSE:CPE) Lowered by Oppenheimer

Callon Petroleum (NYSE:CPE) – Analysts at Oppenheimer dropped their Q3 2019 earnings per share (EPS) estimates for Callon Petroleum in a report issued on Thursday, June 13th. Oppenheimer analyst T. Rezvan now expects that the oil and natural gas company will post earnings per share of $0.24 for the quarter, down from their previous forecast of $0.26. Oppenheimer also issued estimates for Callon Petroleum’s Q4 2019 earnings at $0.29 EPS, FY2019 earnings at $0.89 EPS, Q3 2020 earnings at $0.36 EPS and Q4 2020 earnings at $0.38 EPS.

A number of other research firms also recently weighed in on CPE. SunTrust Banks set a $12.00 target price on shares of Callon Petroleum and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Zacks Investment Research downgraded shares of Callon Petroleum from a “hold” rating to a “strong sell” rating in a research report on Friday, February 15th. Williams Capital reaffirmed a “buy” rating and issued a $12.00 target price on shares of Callon Petroleum in a research report on Tuesday, April 9th. Morgan Stanley initiated coverage on shares of Callon Petroleum in a research report on Thursday, March 21st. They issued an “equal weight” rating and a $9.00 target price for the company. Finally, Capital One Financial cut shares of Callon Petroleum from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $13.13.

Callon Petroleum stock opened at $6.19 on Friday. The firm has a market capitalization of $1.41 billion, a P/E ratio of 7.55, a price-to-earnings-growth ratio of 0.63 and a beta of 1.55. Callon Petroleum has a 1-year low of $5.57 and a 1-year high of $13.09. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.55.

Callon Petroleum (NYSE:CPE) last released its earnings results on Monday, May 6th. The oil and natural gas company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The business had revenue of $153.05 million during the quarter, compared to the consensus estimate of $144.68 million. Callon Petroleum had a net margin of 36.70% and a return on equity of 7.55%. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share.

A number of hedge funds have recently made changes to their positions in CPE. MHI Funds LLC lifted its stake in shares of Callon Petroleum by 3.6% during the 1st quarter. MHI Funds LLC now owns 35,979 shares of the oil and natural gas company’s stock worth $272,000 after buying an additional 1,242 shares during the last quarter. Advisor Group Inc. lifted its stake in shares of Callon Petroleum by 5.4% during the 1st quarter. Advisor Group Inc. now owns 26,778 shares of the oil and natural gas company’s stock worth $202,000 after buying an additional 1,363 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in shares of Callon Petroleum by 3.7% during the 1st quarter. Riverhead Capital Management LLC now owns 39,400 shares of the oil and natural gas company’s stock worth $297,000 after buying an additional 1,400 shares during the last quarter. Tyers Asset Management LLC lifted its stake in shares of Callon Petroleum by 3.8% during the 1st quarter. Tyers Asset Management LLC now owns 44,156 shares of the oil and natural gas company’s stock worth $333,000 after buying an additional 1,596 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of Callon Petroleum by 1.1% during the 4th quarter. Arizona State Retirement System now owns 163,344 shares of the oil and natural gas company’s stock worth $1,060,000 after buying an additional 1,759 shares during the last quarter.

Callon Petroleum Company Profile

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 and southeastern New Mexico. As of December 31, 2018, its estimated net proved reserves totaled 238.5 million barrel of oil equivalent, including 180.1 MMBbls of oil and 350.5 Bcf of natural gas.

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

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