Callon Petroleum Company to Post Q1 2017 Earnings of $0.12 Per Share, KeyCorp Forecasts (CPE)

Callon Petroleum Company (NYSE:CPE) – Investment analysts at KeyCorp decreased their Q1 2017 earnings per share estimates for Callon Petroleum Company in a research report issued on Wednesday. KeyCorp analyst C. Stevens now expects that the oil and natural gas company will post earnings per share of $0.12 for the quarter, down from their prior estimate of $0.14. KeyCorp also issued estimates for Callon Petroleum Company’s Q2 2017 earnings at $0.16 EPS, Q3 2017 earnings at $0.24 EPS, Q4 2017 earnings at $0.30 EPS, FY2017 earnings at $0.82 EPS and FY2018 earnings at $1.17 EPS.

Callon Petroleum Company (NYSE:CPE) last released its earnings results on Monday, February 27th. The oil and natural gas company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.02. The firm earned $69.10 million during the quarter, compared to the consensus estimate of $72.03 million. Callon Petroleum Company had a negative net margin of 122.93% and a positive return on equity of 4.44%. The firm’s revenue was up 105.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.05 EPS.

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

Several other equities analysts also recently commented on the stock. Roth Capital set a $23.00 price target on shares of Callon Petroleum Company and gave the company a “buy” rating in a report on Wednesday, February 22nd. Citigroup Inc upgraded shares of Callon Petroleum Company from a “neutral” rating to a “buy” rating in a report on Thursday, March 9th. Credit Suisse Group AG upped their price target on shares of Callon Petroleum Company from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Tuesday, January 31st. BMO Capital Markets reiterated a “buy” rating and set a $17.00 price target on shares of Callon Petroleum Company in a report on Sunday, March 12th. Finally, Evercore ISI downgraded shares of Callon Petroleum Company from an “outperform” rating to an “in-line” rating and cut their price target for the company from $17.00 to $16.00 in a report on Wednesday. Four analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $18.04.

Callon Petroleum Company (NYSE:CPE) opened at 11.50 on Friday. The company’s market cap is $2.31 billion. Callon Petroleum Company has a 1-year low of $9.89 and a 1-year high of $18.53. The company has a 50-day moving average price of $12.32 and a 200-day moving average price of $14.38.

In other news, VP Jerry A. Weant sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $14.45, for a total value of $57,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.61% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Callon Petroleum Company by 296.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,362 shares of the oil and natural gas company’s stock valued at $114,000 after buying an additional 5,506 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Callon Petroleum Company by 593.3% in the third quarter. Meeder Asset Management Inc. now owns 7,592 shares of the oil and natural gas company’s stock valued at $119,000 after buying an additional 6,497 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Callon Petroleum Company by 607.0% in the third quarter. Sei Investments Co. now owns 8,321 shares of the oil and natural gas company’s stock valued at $131,000 after buying an additional 7,144 shares during the last quarter. Quotient Investors LLC boosted its stake in shares of Callon Petroleum Company by 5.6% in the first quarter. Quotient Investors LLC now owns 13,100 shares of the oil and natural gas company’s stock valued at $172,000 after buying an additional 700 shares during the last quarter. Finally, Advisor Group Inc. boosted its stake in shares of Callon Petroleum Company by 129.8% in the third quarter. Advisor Group Inc. now owns 11,293 shares of the oil and natural gas company’s stock valued at $177,000 after buying an additional 6,379 shares during the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

Callon Petroleum Company 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.

5 Day Chart for NYSE:CPE

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