Brokerages Expect Callon Petroleum (NYSE:CPE) to Announce $1.47 EPS

Brokerages expect that Callon Petroleum (NYSE:CPE) will report earnings per share (EPS) of $1.47 for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Callon Petroleum’s earnings. The lowest EPS estimate is $1.30 and the highest is $1.63. Callon Petroleum posted earnings per share of $0.10 during the same quarter last year, which would indicate a positive year-over-year growth rate of 1,370%. The firm is expected to announce its next earnings results on Tuesday, August 3rd.

On average, analysts expect that Callon Petroleum will report full-year earnings of $5.34 per share for the current financial year, with EPS estimates ranging from $3.46 to $6.86. For the next fiscal year, analysts expect that the business will post earnings of $8.52 per share, with EPS estimates ranging from $6.62 to $9.98. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that cover Callon Petroleum.

Callon Petroleum (NYSE:CPE) last posted its earnings results on Wednesday, May 5th. The oil and natural gas company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.59. Callon Petroleum had a negative net margin of 219.88% and a positive return on equity of 5.38%.

Several equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of Callon Petroleum from a “strong-buy” rating to a “hold” rating and set a $38.00 price target on the stock. in a report on Tuesday, April 27th. Siebert Williams Shank upgraded shares of Callon Petroleum from a “hold” rating to a “buy” rating in a report on Thursday. Wells Fargo & Company upped their price target on shares of Callon Petroleum from $21.00 to $26.00 and gave the company an “underweight” rating in a report on Thursday, April 15th. Morgan Stanley upped their price target on shares of Callon Petroleum from $15.00 to $37.00 and gave the company an “equal weight” rating in a report on Wednesday, March 17th. Finally, Citigroup boosted their price objective on shares of Callon Petroleum from $6.00 to $16.00 in a research report on Thursday, January 21st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. Callon Petroleum presently has a consensus rating of “Hold” and a consensus target price of $22.56.

Shares of Callon Petroleum stock traded up $1.62 during trading hours on Monday, reaching $38.33. The company’s stock had a trading volume of 1,585,796 shares, compared to its average volume of 2,801,256. The stock has a market cap of $1.77 billion, a P/E ratio of -0.74, a P/E/G ratio of 0.46 and a beta of 3.40. Callon Petroleum has a one year low of $4.50 and a one year high of $46.00. The firm has a 50 day moving average price of $37.08 and a 200-day moving average price of $22.80. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.38 and a quick ratio of 0.38.

In other Callon Petroleum news, CAO Gregory F. Conaway sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 12th. The shares were sold at an average price of $39.52, for a total transaction of $395,200.00. Following the transaction, the chief accounting officer now owns 33,200 shares in the company, valued at approximately $1,312,064. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director S P. Iv Johnson sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, March 18th. The shares were sold at an average price of $38.20, for a total transaction of $45,840.00. Following the transaction, the director now owns 70,865 shares in the company, valued at approximately $2,707,043. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,400 shares of company stock valued at $482,812. 2.80% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of CPE. The PNC Financial Services Group Inc. increased its stake in Callon Petroleum by 40.8% during the 1st quarter. The PNC Financial Services Group Inc. now owns 1,029 shares of the oil and natural gas company’s stock valued at $39,000 after purchasing an additional 298 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in Callon Petroleum during the 4th quarter valued at approximately $43,000. Quantbot Technologies LP acquired a new position in Callon Petroleum during the 1st quarter valued at approximately $45,000. Public Employees Retirement System of Ohio increased its stake in Callon Petroleum by 30.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 4,246 shares of the oil and natural gas company’s stock valued at $56,000 after purchasing an additional 992 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Callon Petroleum during the 4th quarter valued at approximately $183,000. Institutional investors and hedge funds own 39.74% of the company’s stock.

Callon Petroleum Company Profile

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, exploration, and development of oil and natural gas properties in Permian Basin in West Texas. As of December 31, 2020, its estimated net proved reserves totaled approximately 475.9 million barrel of oil equivalent, including 289.5 MMBbls oil, 541.6 Bcf of natural gas, and 96.1 MMBbls of natural gas liquids.

Featured Story: Why is insider trading harmful?

Get a free copy of the Zacks research report on Callon Petroleum (CPE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Callon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.