Callon Petroleum Company (NYSE:CPE) – Equities research analysts at Jefferies Group issued their Q3 2017 earnings per share (EPS) estimates for shares of Callon Petroleum in a report issued on Monday. Jefferies Group analyst M. Lear forecasts that the oil and natural gas company will post earnings per share of $0.14 for the quarter. Jefferies Group currently has a “Buy” rating and a $16.00 target price on the stock. Jefferies Group also issued estimates for Callon Petroleum’s Q4 2017 earnings at $0.18 EPS, FY2017 earnings at $0.58 EPS, Q1 2018 earnings at $0.14 EPS, Q2 2018 earnings at $0.16 EPS, Q3 2018 earnings at $0.20 EPS, Q4 2018 earnings at $0.22 EPS, FY2018 earnings at $0.72 EPS and FY2019 earnings at $1.17 EPS.
Callon Petroleum (NYSE:CPE) last released 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 Zacks’ consensus estimate of $0.11 by ($0.02). The firm had revenue of $82.30 million for the quarter, compared to analyst estimates of $83.89 million. Callon Petroleum had a net margin of 34.61% and a return on equity of 4.16%. Callon Petroleum’s revenue for the quarter was up 82.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.61) earnings per share. COPYRIGHT VIOLATION WARNING: “Callon Petroleum Company Forecasted to Earn Q3 2017 Earnings of $0.14 Per Share (CPE)” was reported by Stock Observer and is the property of of Stock Observer. If you are reading this story on another publication, it was stolen and republished in violation of international copyright legislation. The correct version of this story can be viewed at https://www.thestockobserver.com/2017/10/13/callon-petroleum-company-forecasted-to-earn-q3-2017-earnings-of-0-14-per-share-cpe.html.
A number of other analysts have also recently weighed in on the stock. Citigroup Inc. reduced their price objective on shares of Callon Petroleum from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, July 21st. BMO Capital Markets restated a “buy” rating and issued a $15.00 price objective on shares of Callon Petroleum in a research note on Wednesday, September 6th. Royal Bank Of Canada set a $16.00 price objective on shares of Callon Petroleum and gave the stock a “buy” rating in a research note on Thursday, August 24th. Zacks Investment Research cut shares of Callon Petroleum from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Finally, Northland Securities set a $18.00 price objective on shares of Callon Petroleum and gave the stock a “buy” rating in a research note on Monday, August 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $17.50.
A number of institutional investors have recently made changes to their positions in CPE. Great West Life Assurance Co. Can increased its holdings in Callon Petroleum by 25.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 20,800 shares of the oil and natural gas company’s stock valued at $273,000 after buying an additional 4,200 shares during the period. Karp Capital Management Corp bought a new stake in Callon Petroleum in the 1st quarter valued at $381,000. Sei Investments Co. increased its holdings in Callon Petroleum by 25.6% in the 1st quarter. Sei Investments Co. now owns 31,533 shares of the oil and natural gas company’s stock valued at $415,000 after buying an additional 6,428 shares during the period. Ameritas Investment Partners Inc. increased its holdings in Callon Petroleum by 27.9% in the 1st quarter. Ameritas Investment Partners Inc. now owns 15,572 shares of the oil and natural gas company’s stock valued at $205,000 after buying an additional 3,400 shares during the period. Finally, M&T Bank Corp increased its holdings in Callon Petroleum by 20.5% in the 1st quarter. M&T Bank Corp now owns 12,946 shares of the oil and natural gas company’s stock valued at $170,000 after buying an additional 2,203 shares during the period.
About Callon Petroleum
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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