$0.20 EPS Expected for Callon Petroleum (NYSE:CPE) This Quarter

Equities analysts expect Callon Petroleum (NYSE:CPE) to report earnings of $0.20 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Callon Petroleum’s earnings. The highest EPS estimate is $0.33 and the lowest is $0.10. Callon Petroleum reported earnings of $0.16 per share during the same quarter last year, which indicates a positive year over year growth rate of 25%. The firm is scheduled to report its next quarterly earnings results on Monday, May 4th.

According to Zacks, analysts expect that Callon Petroleum will report full-year earnings of $0.78 per share for the current fiscal year, with EPS estimates ranging from $0.45 to $1.31. For the next year, analysts expect that the firm will post earnings of $0.69 per share, with EPS estimates ranging from $0.11 to $1.39. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Callon Petroleum.

Callon Petroleum (NYSE:CPE) last released its earnings results on Wednesday, February 26th. The oil and natural gas company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.07. The firm had revenue of $196.10 million during the quarter, compared to analyst estimates of $180.45 million. Callon Petroleum had a net margin of 10.11% and a return on equity of 7.57%.

Several research firms have weighed in on CPE. SunTrust Banks lowered shares of Callon Petroleum from a “buy” rating to a “hold” rating and cut their target price for the stock from $5.00 to $1.50 in a report on Monday, March 9th. Credit Suisse Group reaffirmed a “neutral” rating on shares of Callon Petroleum in a research report on Thursday, March 19th. Piper Sandler cut shares of Callon Petroleum from an “overweight” rating to a “neutral” rating in a research note on Monday, March 9th. Cowen cut shares of Callon Petroleum from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 11th. Finally, Stephens cut shares of Callon Petroleum from an “overweight” rating to an “equal weight” rating in a research note on Friday, March 20th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $7.90.

In other Callon Petroleum news, Director Steven A. Webster acquired 50,000 shares of the stock in a transaction dated Monday, March 2nd. The stock was acquired at an average cost of $2.13 per share, with a total value of $106,500.00. Following the transaction, the director now owns 5,294,924 shares in the company, valued at approximately $11,278,188.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven A. Webster acquired 300,000 shares of the stock in a transaction dated Thursday, March 5th. The shares were acquired at an average cost of $1.80 per share, with a total value of $540,000.00. Following the completion of the transaction, the director now owns 5,344,924 shares in the company, valued at approximately $9,620,863.20. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,400,000 shares of company stock valued at $1,463,500 over the last 90 days. 0.57% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Chevy Chase Trust Holdings Inc. acquired a new position in shares of Callon Petroleum during the fourth quarter valued at about $29,000. FTB Advisors Inc. lifted its position in Callon Petroleum by 94.2% during the fourth quarter. FTB Advisors Inc. now owns 8,208 shares of the oil and natural gas company’s stock worth $39,000 after buying an additional 3,982 shares in the last quarter. Panagora Asset Management Inc. lifted its position in Callon Petroleum by 110.6% during the fourth quarter. Panagora Asset Management Inc. now owns 11,836 shares of the oil and natural gas company’s stock worth $57,000 after buying an additional 6,216 shares in the last quarter. Enterprise Bank & Trust Co purchased a new position in Callon Petroleum during the fourth quarter worth approximately $63,000. Finally, American Asset Management Inc. purchased a new position in Callon Petroleum during the fourth quarter worth approximately $63,000.

Shares of CPE stock traded up $0.06 during trading hours on Thursday, reaching $0.67. 37,230,981 shares of the company were exchanged, compared to its average volume of 34,012,680. The stock’s fifty day moving average is $1.85 and its two-hundred day moving average is $3.56. Callon Petroleum has a fifty-two week low of $0.38 and a fifty-two week high of $8.52. The company has a market cap of $239.16 million, a price-to-earnings ratio of 2.56 and a beta of 1.63. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.41 and a quick ratio of 0.41.

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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