Callon Petroleum to Post Q4 2022 Earnings of $3.46 Per Share, Capital One Financial Forecasts (NYSE:CPE)

Callon Petroleum (NYSE:CPEGet Rating) – Investment analysts at Capital One Financial reduced their Q4 2022 earnings per share (EPS) estimates for shares of Callon Petroleum in a report released on Tuesday, January 24th. Capital One Financial analyst P. Johnston now forecasts that the oil and natural gas company will post earnings of $3.46 per share for the quarter, down from their prior forecast of $3.79. The consensus estimate for Callon Petroleum’s current full-year earnings is $14.85 per share. Capital One Financial also issued estimates for Callon Petroleum’s Q1 2023 earnings at $2.60 EPS and FY2023 earnings at $11.66 EPS.

Several other brokerages have also issued reports on CPE. JPMorgan Chase & Co. raised Callon Petroleum from an “underweight” rating to a “neutral” rating and set a $57.00 target price on the stock in a research report on Monday, December 5th. StockNews.com started coverage on Callon Petroleum in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Mizuho started coverage on Callon Petroleum in a research note on Monday, January 9th. They set a “buy” rating and a $59.00 price target on the stock. Finally, Morgan Stanley dropped their price target on Callon Petroleum from $60.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Callon Petroleum has a consensus rating of “Hold” and a consensus price target of $66.63.

Callon Petroleum Trading Down 2.1 %

CPE opened at $42.73 on Wednesday. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 2.15 and a beta of 2.63. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.84. Callon Petroleum has a 12 month low of $31.23 and a 12 month high of $66.48. The stock has a fifty day moving average price of $38.39 and a 200-day moving average price of $40.38.

Callon Petroleum (NYSE:CPEGet Rating) last released its quarterly earnings results on Wednesday, November 2nd. The oil and natural gas company reported $4.04 EPS for the quarter, topping the consensus estimate of $4.00 by $0.04. The firm had revenue of $835.88 million during the quarter, compared to analyst estimates of $699.68 million. Callon Petroleum had a return on equity of 38.40% and a net margin of 37.99%.

Hedge Funds Weigh In On Callon Petroleum

Hedge funds have recently bought and sold shares of the business. Banque Cantonale Vaudoise purchased a new position in Callon Petroleum during the third quarter worth approximately $56,000. PNC Financial Services Group Inc. boosted its position in Callon Petroleum by 25.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,296 shares of the oil and natural gas company’s stock worth $135,000 after purchasing an additional 462 shares in the last quarter. Point72 Hong Kong Ltd boosted its position in Callon Petroleum by 14.5% during the first quarter. Point72 Hong Kong Ltd now owns 2,299 shares of the oil and natural gas company’s stock worth $136,000 after purchasing an additional 291 shares in the last quarter. Captrust Financial Advisors boosted its position in Callon Petroleum by 102.1% during the first quarter. Captrust Financial Advisors now owns 3,251 shares of the oil and natural gas company’s stock worth $192,000 after purchasing an additional 1,642 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC purchased a new position in Callon Petroleum during the first quarter worth approximately $219,000. Hedge funds and other institutional investors own 83.60% of the company’s stock.

Callon Petroleum Company Profile

(Get Rating)

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, exploration, and development of oil and natural gas properties in Permian Basin in West Texas. As of December 31, 2021, its estimated net proved reserves totaled approximately 484.6 million barrel of oil equivalent, including 290.3 MMBbls oil, 577.3 Bcf of natural gas, and 98.1 MMBbls of natural gas liquids.

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

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