Callon Petroleum Co. (NYSE:CPE) – Investment analysts at Imperial Capital reduced their Q1 2017 earnings estimates for shares of Callon Petroleum in a research report issued to clients and investors on Friday. Imperial Capital analyst K. Pacanovsky now expects that the brokerage will post earnings of $0.07 per share for the quarter, down from their prior estimate of $0.08. Imperial Capital currently has a “Outperform” rating and a $18.00 target price on the stock. Imperial Capital also issued estimates for Callon Petroleum’s Q3 2017 earnings at $0.09 EPS.
Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.61) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.65. The company earned $45.14 million during the quarter, compared to the consensus estimate of $47.75 million. Callon Petroleum had a negative net margin of 233.91% and a positive return on equity of 3.77%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.11) earnings per share.
A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Callon Petroleum from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Thursday, August 11th. FBR & Co boosted their price objective on Callon Petroleum from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, August 10th. KeyCorp boosted their price objective on Callon Petroleum from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, August 22nd. Evercore ISI initiated coverage on Callon Petroleum in a research note on Wednesday, September 28th. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, KLR Group initiated coverage on Callon Petroleum in a research note on Monday, July 11th. They issued a “buy” rating and a $17.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Callon Petroleum presently has an average rating of “Buy” and an average price target of $15.25.
Callon Petroleum (NYSE:CPE) opened at 15.61 on Monday. The firm has a 50-day moving average price of $14.57 and a 200-day moving average price of $11.77. Callon Petroleum has a 1-year low of $4.21 and a 1-year high of $15.91. The company’s market capitalization is $2.05 billion.
Several institutional investors have recently bought and sold shares of CPE. US Bancorp DE raised its position in Callon Petroleum by 40.4% in the second quarter. US Bancorp DE now owns 9,489 shares of the company’s stock worth $107,000 after buying an additional 2,730 shares during the last quarter. Hsbc Holdings PLC bought a new position in Callon Petroleum during the second quarter worth approximately $115,000. Capital Fund Management S.A. bought a new position in Callon Petroleum during the second quarter worth approximately $116,000. Genesee Valley Trust Co. bought a new position in Callon Petroleum during the second quarter worth approximately $119,000. Finally, IBM Retirement Fund bought a new position in Callon Petroleum during the second quarter worth approximately $129,000. 83.09% of the stock is owned by hedge funds and other institutional investors.
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. It focuses on unconventional, onshore, oil and natural gas reserves in the Permian Basin in West Texas and the Midland Basin.
Receive News & Ratings for Callon Petroleum Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callon Petroleum Co. and related companies with MarketBeat.com's FREE daily email newsletter.