FY2017 EPS Estimates for Callon Petroleum Company Lowered by Seaport Global Securities (CPE)
Callon Petroleum Company (NYSE:CPE) – Analysts at Seaport Global Securities reduced their FY2017 earnings per share (EPS) estimates for shares of Callon Petroleum in a report released on Tuesday. Seaport Global Securities analyst M. Kelly now anticipates that the oil and natural gas company will post earnings per share of $0.49 for the year, down from their previous forecast of $0.53. Seaport Global Securities currently has a “Neutral” rating and a $10.00 price objective on the stock. Seaport Global Securities also issued estimates for Callon Petroleum’s Q4 2017 earnings at $0.17 EPS and Q1 2018 earnings at $0.08 EPS.
A number of other analysts have also recently commented on the company. Evercore ISI cut Callon Petroleum from an “outperform” rating to an “in-line” rating and reduced their price objective for the company from $17.00 to $16.00 in a research report on Wednesday, April 19th. Scotiabank reiterated a “buy” rating and set a $18.00 price objective on shares of Callon Petroleum in a research report on Friday, May 5th. Eurobank EFG upgraded Callon Petroleum from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Thursday, April 13th. Echelon Wealth Partners upgraded Callon Petroleum to a “buy” rating and set a $17.00 price objective for the company in a research report on Thursday, April 13th. Finally, ValuEngine raised Callon Petroleum from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the company. Callon Petroleum has an average rating of “Buy” and an average price target of $17.73.
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Callon Petroleum (CPE) opened at 10.63 on Thursday. The stock’s 50 day moving average price is $10.70 and its 200 day moving average price is $12.13. Callon Petroleum has a 1-year low of $9.63 and a 1-year high of $18.53. The company has a market cap of $2.15 billion, a P/E ratio of 20.25 and a beta of 1.44.
Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.11 by $0.02. The firm had revenue of $82.30 million for the quarter, compared to the consensus estimate of $83.89 million. Callon Petroleum had a return on equity of 4.16% and a net margin of 34.61%. The firm’s revenue was up 82.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.61) EPS.
A number of institutional investors have recently made changes to their positions in CPE. Strs Ohio raised its position in shares of Callon Petroleum by 6.5% in the first quarter. Strs Ohio now owns 9,800 shares of the oil and natural gas company’s stock worth $128,000 after buying an additional 600 shares during the last quarter. Dubuque Bank & Trust Co. purchased a new position in shares of Callon Petroleum during the first quarter worth approximately $192,000. Independent Portfolio Consultants Inc. raised its position in shares of Callon Petroleum by 44.3% in the first quarter. Independent Portfolio Consultants Inc. now owns 58,575 shares of the oil and natural gas company’s stock worth $771,000 after buying an additional 17,970 shares during the last quarter. Navellier & Associates Inc purchased a new position in shares of Callon Petroleum during the first quarter worth approximately $991,000. Finally, Quotient Investors LLC raised its position in shares of Callon Petroleum by 5.6% in the first quarter. Quotient Investors LLC now owns 13,100 shares of the oil and natural gas company’s stock worth $172,000 after buying an additional 700 shares during the last quarter.
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.
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