Callon Petroleum (NYSE:CPE) – Stock analysts at Seaport Global Securities lifted their Q1 2019 earnings per share estimates for shares of Callon Petroleum in a research report issued to clients and investors on Tuesday, October 16th. Seaport Global Securities analyst M. Kelly now expects that the oil and natural gas company will post earnings of $0.27 per share for the quarter, up from their previous estimate of $0.26. Seaport Global Securities also issued estimates for Callon Petroleum’s Q2 2019 earnings at $0.28 EPS and FY2019 earnings at $1.30 EPS.

Callon Petroleum (NYSE:CPE) last issued its earnings results on Monday, August 6th. The oil and natural gas company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.01). Callon Petroleum had a return on equity of 7.25% and a net margin of 31.27%. The company had revenue of $137.10 million during the quarter, compared to analysts’ expectations of $133.66 million. During the same quarter in the prior year, the business posted $0.09 EPS. The company’s revenue for the quarter was up 66.6% compared to the same quarter last year.

Other equities research analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Callon Petroleum from a “c+” rating to a “b-” rating in a report on Monday, September 17th. KLR Group restated a “buy” rating and issued a $16.00 target price on shares of Callon Petroleum in a report on Monday, August 20th. Piper Jaffray Companies restated a “buy” rating and issued a $20.00 target price on shares of Callon Petroleum in a report on Sunday, August 12th. Zacks Investment Research upgraded shares of Callon Petroleum from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Wednesday, July 18th. Finally, Stephens set a $20.00 target price on shares of Callon Petroleum and gave the stock a “buy” rating in a report on Wednesday, July 25th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $16.11.

Shares of CPE stock opened at $11.89 on Thursday. Callon Petroleum has a 12-month low of $9.75 and a 12-month high of $14.65. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.61 and a current ratio of 2.61. The company has a market capitalization of $2.73 billion, a P/E ratio of 28.05 and a beta of 1.02.

In other Callon Petroleum news, VP Mitzi P. Conn sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $11.76, for a total value of $176,400.00. Following the transaction, the vice president now directly owns 42,062 shares in the company, valued at $494,649.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.63% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CPE. PNC Financial Services Group Inc. raised its position in Callon Petroleum by 31.2% in the first quarter. PNC Financial Services Group Inc. now owns 28,188 shares of the oil and natural gas company’s stock worth $373,000 after acquiring an additional 6,704 shares during the period. Sei Investments Co. raised its position in shares of Callon Petroleum by 55.1% during the 1st quarter. Sei Investments Co. now owns 47,493 shares of the oil and natural gas company’s stock valued at $628,000 after purchasing an additional 16,876 shares during the period. Principal Financial Group Inc. raised its position in shares of Callon Petroleum by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 875,735 shares of the oil and natural gas company’s stock valued at $11,594,000 after purchasing an additional 23,399 shares during the period. Northwestern Mutual Investment Management Company LLC raised its position in shares of Callon Petroleum by 56.2% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 41,299 shares of the oil and natural gas company’s stock valued at $547,000 after purchasing an additional 14,865 shares during the period. Finally, UBS Group AG raised its position in shares of Callon Petroleum by 59.3% during the 1st quarter. UBS Group AG now owns 299,612 shares of the oil and natural gas company’s stock valued at $3,967,000 after purchasing an additional 111,533 shares during the period.

About Callon Petroleum

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. As of December 31, 2017, its estimated net proved reserves totaled 137.0 million barrel of oil equivalent.

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

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