Callon Petroleum (NYSE:CPE) – Equities researchers at Capital One Financial decreased their FY2019 earnings per share (EPS) estimates for Callon Petroleum in a research note issued to investors on Thursday, August 8th, Zacks Investment Research reports. Capital One Financial analyst P. Johnston now anticipates that the oil and natural gas company will post earnings of $0.79 per share for the year, down from their previous forecast of $0.80. Capital One Financial has a “Overweight” rating on the stock.
Several other equities research analysts also recently commented on the company. Evercore ISI reissued a “hold” rating and issued a $12.00 price objective on shares of Callon Petroleum in a report on Thursday, August 8th. Barclays cut their price objective on Callon Petroleum from $9.00 to $6.00 and set an “overweight” rating for the company in a report on Friday. Morgan Stanley set a $8.00 price objective on Callon Petroleum and gave the company a “hold” rating in a report on Monday, June 24th. Northland Securities reaffirmed a “buy” rating and set a $10.00 price target on shares of Callon Petroleum in a report on Wednesday, August 7th. Finally, Roth Capital set a $12.00 price target on Callon Petroleum and gave the company a “buy” rating in a report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the stock. Callon Petroleum presently has an average rating of “Buy” and a consensus price target of $11.47.
Shares of NYSE CPE traded down $0.26 during trading hours on Monday, hitting $3.85. The company had a trading volume of 16,533,000 shares, compared to its average volume of 8,934,038. The stock has a market capitalization of $938.33 million, a P/E ratio of 4.61, a price-to-earnings-growth ratio of 0.50 and a beta of 1.47. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.44. Callon Petroleum has a 1-year low of $3.76 and a 1-year high of $13.09. The firm’s 50 day moving average is $4.65 and its 200-day moving average is $6.57.
Callon Petroleum (NYSE:CPE) last released its quarterly earnings data on Tuesday, August 6th. The oil and natural gas company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $167.05 million during the quarter, compared to the consensus estimate of $163.05 million. Callon Petroleum had a return on equity of 7.57% and a net margin of 35.72%. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 EPS.
A number of institutional investors have recently made changes to their positions in the business. Systematic Financial Management LP lifted its holdings in shares of Callon Petroleum by 1.2% during the first quarter. Systematic Financial Management LP now owns 1,369,930 shares of the oil and natural gas company’s stock worth $10,343,000 after buying an additional 16,811 shares in the last quarter. Moody Aldrich Partners LLC lifted its holdings in shares of Callon Petroleum by 52.9% during the second quarter. Moody Aldrich Partners LLC now owns 576,267 shares of the oil and natural gas company’s stock worth $3,798,000 after buying an additional 199,346 shares in the last quarter. Balasa Dinverno & Foltz LLC lifted its holdings in shares of Callon Petroleum by 69.8% during the first quarter. Balasa Dinverno & Foltz LLC now owns 22,934 shares of the oil and natural gas company’s stock worth $173,000 after buying an additional 9,424 shares in the last quarter. Columbus Circle Investors lifted its holdings in shares of Callon Petroleum by 3.8% during the first quarter. Columbus Circle Investors now owns 1,539,795 shares of the oil and natural gas company’s stock worth $11,625,000 after buying an additional 55,793 shares in the last quarter. Finally, Tributary Capital Management LLC lifted its holdings in shares of Callon Petroleum by 15.6% during the first quarter. Tributary Capital Management LLC now owns 2,098,046 shares of the oil and natural gas company’s stock worth $15,840,000 after buying an additional 282,381 shares in the last quarter.
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.