SunTrust Banks Comments on Callon Petroleum’s FY2019 Earnings (NYSE:CPE)

Callon Petroleum (NYSE:CPE) – Equities researchers at SunTrust Banks dropped their FY2019 earnings per share (EPS) estimates for shares of Callon Petroleum in a research report issued to clients and investors on Wednesday, October 16th. SunTrust Banks analyst N. Dingmann now forecasts that the oil and natural gas company will post earnings per share of $0.73 for the year, down from their prior forecast of $0.74. SunTrust Banks also issued estimates for Callon Petroleum’s Q4 2019 earnings at $0.21 EPS, Q1 2020 earnings at $0.26 EPS and FY2020 earnings at $1.09 EPS.

A number of other equities analysts also recently issued reports on the stock. Williams Capital decreased their price target on shares of Callon Petroleum from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Citigroup decreased their price target on shares of Callon Petroleum from $10.00 to $8.50 and set a “buy” rating for the company in a research note on Monday, September 23rd. Imperial Capital decreased their price target on shares of Callon Petroleum from $16.00 to $11.00 and set an “in-line” rating for the company in a research note on Tuesday, July 16th. ValuEngine raised shares of Callon Petroleum from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group downgraded shares of Callon Petroleum from a “buy” rating to a “hold” rating and set a $11.00 price target for the company. in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $10.83.

CPE stock opened at $3.82 on Friday. Callon Petroleum has a 1 year low of $3.75 and a 1 year high of $12.02. The company has a market cap of $895.27 million, a P/E ratio of 4.66, a PEG ratio of 0.49 and a beta of 1.42. The firm has a 50-day moving average of $4.25 and a 200 day moving average of $5.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.47 and a quick ratio of 0.47.

Callon Petroleum (NYSE:CPE) last released its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.18 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.18. Callon Petroleum had a net margin of 35.72% and a return on equity of 7.57%. The company had revenue of $167.05 million during the quarter, compared to the consensus estimate of $163.05 million. During the same period in the prior year, the firm earned $0.23 earnings per share. Callon Petroleum’s revenue was up 21.9% on a year-over-year basis.

A number of institutional investors and hedge funds have recently made changes to their positions in CPE. First National Bank of Omaha grew its holdings in Callon Petroleum by 11.6% in the second quarter. First National Bank of Omaha now owns 181,403 shares of the oil and natural gas company’s stock worth $1,195,000 after purchasing an additional 18,839 shares during the period. Tributary Capital Management LLC grew its holdings in Callon Petroleum by 6.7% in the second quarter. Tributary Capital Management LLC now owns 2,238,659 shares of the oil and natural gas company’s stock worth $14,753,000 after purchasing an additional 140,613 shares during the period. CWM Advisors LLC grew its holdings in Callon Petroleum by 29.3% in the second quarter. CWM Advisors LLC now owns 26,455 shares of the oil and natural gas company’s stock worth $174,000 after purchasing an additional 5,995 shares during the period. Moody Aldrich Partners LLC grew its holdings in Callon Petroleum by 52.9% in the second quarter. Moody Aldrich Partners LLC now owns 576,267 shares of the oil and natural gas company’s stock worth $3,798,000 after purchasing an additional 199,346 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Callon Petroleum by 0.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 540,255 shares of the oil and natural gas company’s stock worth $3,560,000 after purchasing an additional 2,323 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 and southeastern New Mexico. As of December 31, 2018, its estimated net proved reserves totaled 238.5 million barrel of oil equivalent, including 180.1 MMBbls of oil and 350.5 Bcf of natural gas.

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

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