Brokers Offer Predictions for Callon Petroleum’s FY2020 Earnings (NYSE:CPE)

Callon Petroleum (NYSE:CPE) – Stock analysts at Capital One Financial lifted their FY2020 earnings estimates for shares of Callon Petroleum in a research note issued to investors on Tuesday, November 5th. Capital One Financial analyst P. Johnston now anticipates that the oil and natural gas company will post earnings of $1.10 per share for the year, up from their previous estimate of $1.07.

Callon Petroleum (NYSE:CPE) last announced its earnings results on Monday, November 4th. The oil and natural gas company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $155.38 million for the quarter, compared to analysts’ expectations of $152.61 million. Callon Petroleum had a net margin of 38.86% and a return on equity of 7.48%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 EPS.

Several other brokerages have also recently issued reports on CPE. Evercore ISI reissued a “hold” rating and issued a $12.00 price objective on shares of Callon Petroleum in a research note on Thursday, August 8th. Citigroup decreased their target price on shares of Callon Petroleum from $10.00 to $8.50 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Barclays decreased their price objective on shares of Callon Petroleum from $9.00 to $6.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Jefferies Financial Group lowered shares of Callon Petroleum from a “buy” rating to a “hold” rating and set a $11.00 price objective on the stock. in a research report on Monday, July 15th. Finally, Williams Capital set a $8.00 price objective on shares of Callon Petroleum and gave the stock a “buy” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $10.35.

CPE traded up $0.22 during trading on Friday, hitting $4.54. The stock had a trading volume of 19,563,394 shares, compared to its average volume of 11,270,358. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.47 and a current ratio of 0.55. The firm has a market capitalization of $1.01 billion, a P/E ratio of 5.54, a PEG ratio of 0.34 and a beta of 1.46. The company’s 50-day moving average price is $4.13 and its 200 day moving average price is $5.46. Callon Petroleum has a twelve month low of $3.68 and a twelve month high of $10.73.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. First National Bank of Omaha boosted its position in shares of Callon Petroleum by 11.6% in the 2nd quarter. First National Bank of Omaha now owns 181,403 shares of the oil and natural gas company’s stock valued at $1,195,000 after purchasing an additional 18,839 shares during the period. Tributary Capital Management LLC boosted its position in Callon Petroleum by 6.7% during the 2nd quarter. Tributary Capital Management LLC now owns 2,238,659 shares of the oil and natural gas company’s stock worth $14,753,000 after acquiring an additional 140,613 shares during the period. CWM Advisors LLC boosted its position in Callon Petroleum by 29.3% during the 2nd quarter. CWM Advisors LLC now owns 26,455 shares of the oil and natural gas company’s stock worth $174,000 after acquiring an additional 5,995 shares during the period. Moody Aldrich Partners LLC boosted its position in Callon Petroleum by 52.9% during the 2nd quarter. Moody Aldrich Partners LLC now owns 576,267 shares of the oil and natural gas company’s stock worth $3,798,000 after acquiring an additional 199,346 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Callon Petroleum by 0.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 540,255 shares of the oil and natural gas company’s stock worth $3,560,000 after acquiring an additional 2,323 shares during the period.

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 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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