Callon Petroleum Co. (CPE) Expected to Earn Q3 2016 Earnings of $0.07 Per Share
Callon Petroleum Co. (NYSE:CPE) – Research analysts at FBR & Co upped their Q3 2016 earnings per share (EPS) estimates for Callon Petroleum in a research note issued to investors on Monday. FBR & Co analyst C. Mabry now expects that the brokerage will earn $0.07 per share for the quarter, up from their prior forecast of $0.06. FBR & Co currently has a “Outperform” rating and a $19.00 target price on the stock. FBR & Co also issued estimates for Callon Petroleum’s Q4 2016 earnings at $0.07 EPS.
Several other research analysts also recently commented on CPE. Citigroup Inc. initiated coverage on Callon Petroleum in a research note on Wednesday, June 29th. They issued a “neutral” rating and a $12.00 target price for the company. Zacks Investment Research upgraded Callon Petroleum from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Wednesday, June 29th. KLR Group initiated coverage on Callon Petroleum in a research note on Monday, July 11th. They issued a “buy” rating and a $17.00 target price for the company. Roth Capital restated a “buy” rating on shares of Callon Petroleum in a research note on Tuesday, July 12th. Finally, Imperial Capital reiterated an “outperform” rating and set a $16.00 price target (up previously from $14.00) on shares of Callon Petroleum in a research report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $15.36.
Shares of Callon Petroleum (NYSE:CPE) opened at 15.54 on Thursday. The company has a 50-day moving average price of $14.75 and a 200 day moving average price of $11.93. Callon Petroleum has a one year low of $4.21 and a one year high of $16.03. The company’s market capitalization is $2.04 billion.
Callon Petroleum (NYSE:CPE) last announced its earnings results on Monday, August 8th. The company reported ($0.61) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.65. Callon Petroleum had a negative net margin of 233.91% and a positive return on equity of 3.77%. The company earned $45.14 million during the quarter, compared to the consensus estimate of $47.75 million. During the same quarter in the previous year, the company earned ($0.11) earnings per share. The business’s revenue was up 15.0% on a year-over-year basis.
Several large investors have recently added to or reduced their stakes in CPE. Legal & General Group Plc raised its stake in Callon Petroleum by 13.1% in the first quarter. Legal & General Group Plc now owns 12,043 shares of the company’s stock valued at $106,000 after buying an additional 1,395 shares in the last quarter. US Bancorp DE raised its stake in Callon Petroleum by 40.4% in the second quarter. US Bancorp DE now owns 9,489 shares of the company’s stock valued at $107,000 after buying an additional 2,730 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in Callon Petroleum during the second quarter valued at $115,000. Capital Fund Management S.A. purchased a new stake in Callon Petroleum during the second quarter valued at $116,000. Finally, Genesee Valley Trust Co. purchased a new stake in Callon Petroleum during the second quarter valued at $119,000. Institutional investors own 83.09% of the company’s stock.
About Callon Petroleum
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. It focuses on unconventional, onshore, oil and natural gas reserves in the Permian Basin in West Texas and the Midland Basin.
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