Callon Petroleum (NYSE:CPE) Expected to Post Earnings of $2.31 Per Share

Equities analysts expect Callon Petroleum (NYSE:CPE) to post $2.31 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Callon Petroleum’s earnings, with the lowest EPS estimate coming in at $2.19 and the highest estimate coming in at $2.42. Callon Petroleum reported earnings per share of $0.64 during the same quarter last year, which suggests a positive year-over-year growth rate of 260.9%. The company is scheduled to report its next quarterly earnings report on Monday, November 1st.

According to Zacks, analysts expect that Callon Petroleum will report full year earnings of $7.75 per share for the current year, with EPS estimates ranging from $7.46 to $8.05. For the next year, analysts anticipate that the company will post earnings of $11.22 per share, with EPS estimates ranging from $10.38 to $11.63. Zacks’ EPS calculations are an average based on a survey of research firms that cover Callon Petroleum.

Callon Petroleum (NYSE:CPE) last announced its quarterly earnings results on Tuesday, August 3rd. The oil and natural gas company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. Callon Petroleum had a positive return on equity of 24.26% and a negative net margin of 92.16%. The firm had revenue of $440.40 million for the quarter, compared to the consensus estimate of $340.48 million.

CPE has been the subject of several research analyst reports. Zacks Investment Research upgraded Callon Petroleum from a “hold” rating to a “strong-buy” rating and set a $44.00 target price for the company in a research report on Monday, May 31st. Morgan Stanley decreased their price target on Callon Petroleum from $49.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, August 23rd. Truist decreased their price target on Callon Petroleum from $46.00 to $37.00 and set a “hold” rating for the company in a research note on Thursday, August 5th. MKM Partners upgraded Callon Petroleum from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $47.00 to $54.00 in a report on Monday, July 19th. Finally, Citigroup lifted their price target on Callon Petroleum from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, July 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.64.

CPE traded up $4.19 during midday trading on Wednesday, reaching $46.89. The company had a trading volume of 43,773 shares, compared to its average volume of 2,296,574. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 3.78. The business has a 50-day moving average of $34.91 and a two-hundred day moving average of $39.90. The company has a market cap of $2.17 billion, a P/E ratio of -1.46 and a beta of 3.48. Callon Petroleum has a 1 year low of $4.50 and a 1 year high of $60.51.

In other Callon Petroleum news, Director S P. Iv Johnson sold 1,200 shares of Callon Petroleum stock in a transaction dated Monday, September 20th. The stock was sold at an average price of $35.14, for a total transaction of $42,168.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.60% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC acquired a new stake in Callon Petroleum during the 2nd quarter worth about $27,000. Versant Capital Management Inc acquired a new stake in Callon Petroleum during the 2nd quarter worth about $32,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Callon Petroleum in the 2nd quarter valued at about $34,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Callon Petroleum in the 2nd quarter valued at about $50,000. Finally, The PNC Financial Services Group Inc. lifted its holdings in shares of Callon Petroleum by 40.8% in the 1st quarter. The PNC Financial Services Group Inc. now owns 1,029 shares of the oil and natural gas company’s stock valued at $39,000 after buying an additional 298 shares during the period. 77.44% of the stock is owned by institutional investors.

About Callon Petroleum

Callon Petroleum Co engages in the exploration, development, acquisition and production of oil and natural gas properties in the United States. It focuses on unconventional oil and natural gas reserves in the Permian Basin. The company was founded by Sim C. Callon and John S. Callon in 1950 and is headquartered in Houston, TX.

Further Reading: What is the S&P/ASX 200 Index?

Get a free copy of the Zacks research report on Callon Petroleum (CPE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Callon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.