Callon Petroleum (NYSE:CPE) – Equities research analysts at Imperial Capital dropped their Q1 2020 earnings estimates for Callon Petroleum in a report issued on Friday, June 14th. Imperial Capital analyst I. Haas now anticipates that the oil and natural gas company will post earnings of $0.29 per share for the quarter, down from their previous estimate of $0.30. Imperial Capital also issued estimates for Callon Petroleum’s Q2 2020 earnings at $0.29 EPS, Q3 2020 earnings at $0.31 EPS and Q4 2020 earnings at $0.35 EPS.
Several other research firms have also commented on CPE. Stephens set a $11.00 target price on Callon Petroleum and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Capital One Financial upgraded Callon Petroleum from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 23rd. SunTrust Banks set a $12.00 target price on Callon Petroleum and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Williams Capital set a $12.00 target price on Callon Petroleum and gave the company a “buy” rating in a research note on Thursday. Finally, Morgan Stanley initiated coverage on Callon Petroleum in a research note on Thursday, March 21st. They issued an “equal weight” rating and a $9.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $13.00.
Callon Petroleum stock opened at $6.01 on Monday. The firm has a market capitalization of $1.37 billion, a P/E ratio of 7.33, a price-to-earnings-growth ratio of 0.61 and a beta of 1.55. Callon Petroleum has a 52 week low of $5.57 and a 52 week 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 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The firm had revenue of $153.05 million during the quarter, compared to analyst estimates of $144.68 million. Callon Petroleum had a return on equity of 7.55% and a net margin of 36.70%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 earnings per share.
A number of large investors have recently made changes to their positions in CPE. Private Capital Group LLC increased its stake in Callon Petroleum by 135.5% during the first quarter. Private Capital Group LLC now owns 4,164 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 2,396 shares during the last quarter. Cipher Capital LP acquired a new stake in Callon Petroleum during the fourth quarter worth about $72,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Callon Petroleum during the fourth quarter worth about $73,000. Miller Investment Management LP acquired a new stake in Callon Petroleum during the first quarter worth about $76,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in Callon Petroleum during the first quarter worth about $81,000.
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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