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

Callon Petroleum (NYSE:CPE) – Investment analysts at Capital One Financial increased their FY2020 earnings per share (EPS) estimates for Callon Petroleum in a research note issued 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 prior forecast of $1.07.

CPE has been the topic of several other research reports. Citigroup decreased their price target on Callon Petroleum from $10.00 to $8.50 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Jefferies Financial Group lowered Callon Petroleum from a “buy” rating to a “hold” rating and set a $11.00 price objective on the stock. in a research note on Monday, July 15th. Imperial Capital reduced their price objective on Callon Petroleum from $16.00 to $11.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 16th. Williams Capital set a $8.00 price objective on Callon Petroleum and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Northland Securities set a $7.00 price objective on Callon Petroleum and gave the stock a “buy” rating in a research note on Monday, October 21st. One investment 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’s stock. The company currently has a consensus rating of “Buy” and an average price target of $10.35.

CPE stock traded up $0.22 during trading on Friday, hitting $4.54. The company had a trading volume of 19,563,394 shares, compared to its average volume of 11,270,358. The company has a fifty day moving average price of $4.13 and a two-hundred day moving average price of $5.46. The company has a current ratio of 0.55, a quick ratio of 0.47 and a debt-to-equity ratio of 0.48. The company has a market cap of $1.01 billion, a P/E ratio of 5.54, a P/E/G ratio of 0.34 and a beta of 1.46. Callon Petroleum has a fifty-two week low of $3.68 and a fifty-two week high of $10.73.

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

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Callon Petroleum by 0.8% during the second quarter. BlackRock Inc. now owns 26,631,505 shares of the oil and natural gas company’s stock valued at $175,502,000 after acquiring an additional 219,910 shares during the period. Vanguard Group Inc. lifted its stake in shares of Callon Petroleum by 3.7% during the second quarter. Vanguard Group Inc. now owns 22,086,955 shares of the oil and natural gas company’s stock valued at $145,552,000 after acquiring an additional 778,699 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Callon Petroleum by 10.7% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,392,232 shares of the oil and natural gas company’s stock valued at $55,305,000 after acquiring an additional 811,139 shares during the period. Macquarie Group Ltd. lifted its stake in shares of Callon Petroleum by 1,098.7% during the second quarter. Macquarie Group Ltd. now owns 7,230,540 shares of the oil and natural gas company’s stock valued at $47,649,000 after acquiring an additional 6,627,337 shares during the period. Finally, Silvercrest Asset Management Group LLC lifted its stake in shares of Callon Petroleum by 21.8% during the second quarter. Silvercrest Asset Management Group LLC now owns 7,039,169 shares of the oil and natural gas company’s stock valued at $46,388,000 after acquiring an additional 1,261,198 shares during the period.

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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