Callon Petroleum Company (CPE) to Post Q4 2017 Earnings of $0.14 Per Share, Seaport Global Securities Forecasts

Callon Petroleum Company (NYSE:CPE) – Seaport Global Securities decreased their Q4 2017 earnings per share estimates for shares of Callon Petroleum in a report released on Tuesday. Seaport Global Securities analyst M. Kelly now forecasts that the oil and natural gas company will earn $0.14 per share for the quarter, down from their previous estimate of $0.15. Seaport Global Securities also issued estimates for Callon Petroleum’s Q1 2018 earnings at $0.09 EPS, Q3 2018 earnings at $0.12 EPS and FY2018 earnings at $0.44 EPS.

Several other research analysts have also issued reports on CPE. BMO Capital Markets set a $15.00 price target on Callon Petroleum and gave the stock a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded Callon Petroleum from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Jefferies Group LLC assumed coverage on Callon Petroleum in a research report on Monday, October 9th. They issued a “buy” rating and a $16.00 price target on the stock. Northland Securities restated a “buy” rating and issued a $18.00 price target on shares of Callon Petroleum in a research report on Wednesday, November 1st. Finally, BidaskClub lowered Callon Petroleum from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company’s stock. Callon Petroleum currently has an average rating of “Buy” and an average price target of $17.50.

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Callon Petroleum (NYSE CPE) opened at $10.31 on Wednesday. Callon Petroleum has a 12-month low of $9.34 and a 12-month high of $18.53. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $2,252.49, a price-to-earnings ratio of 31.00 and a beta of 1.38.

Callon Petroleum (NYSE:CPE) last released its earnings results on Monday, November 6th. The oil and natural gas company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.01). The firm had revenue of $84.60 million during the quarter, compared to analyst estimates of $81.98 million. Callon Petroleum had a net margin of 30.20% and a return on equity of 4.05%. The firm’s quarterly revenue was up 51.3% on a year-over-year basis. During the same period last year, the business posted $0.09 earnings per share.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zions Bancorporation acquired a new stake in shares of Callon Petroleum in the 3rd quarter valued at about $105,000. Fondren Management LP acquired a new stake in shares of Callon Petroleum in the 2nd quarter valued at about $106,000. BB&T Securities LLC acquired a new stake in shares of Callon Petroleum in the 3rd quarter valued at about $112,000. FFT Wealth Management LLC acquired a new stake in shares of Callon Petroleum in the 2nd quarter valued at about $113,000. Finally, Intrust Bank NA acquired a new stake in shares of Callon Petroleum in the 3rd quarter valued at about $139,000.

Callon Petroleum Company Profile

Callon Petroleum Company is an independent oil and natural gas company. The Company is engaged in the exploration, development, acquisition and production of oil and natural gas properties. The Company focuses on the acquisition and development of unconventional oil and natural gas reserves in the Permian Basin.

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

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