Analysts Expect Callon Petroleum (NYSE:CPE) Will Post Quarterly Sales of $191.30 Million

Equities research analysts expect Callon Petroleum (NYSE:CPE) to post sales of $191.30 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Callon Petroleum’s earnings, with the lowest sales estimate coming in at $116.20 million and the highest estimate coming in at $239.00 million. Callon Petroleum reported sales of $167.05 million in the same quarter last year, which indicates a positive year over year growth rate of 14.5%. The business is scheduled to report its next earnings report on Tuesday, August 4th.

According to Zacks, analysts expect that Callon Petroleum will report full-year sales of $964.85 million for the current financial year, with estimates ranging from $768.30 million to $1.11 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $941.18 million, with estimates ranging from $710.00 million to $1.08 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Callon Petroleum.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings data on Monday, May 11th. The oil and natural gas company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.03). Callon Petroleum had a net margin of 37.61% and a return on equity of 7.24%. The business had revenue of $289.92 million during the quarter, compared to the consensus estimate of $344.75 million.

A number of analysts have recently weighed in on the stock. MKM Partners assumed coverage on shares of Callon Petroleum in a report on Thursday, May 28th. They set a “buy” rating and a $2.00 price target for the company. US Capital Advisors downgraded shares of Callon Petroleum from a “buy” rating to a “hold” rating and set a $3.00 price target for the company. in a report on Friday, April 24th. SunTrust Banks downgraded shares of Callon Petroleum from a “buy” rating to a “hold” rating and cut their price target for the stock from $5.00 to $1.50 in a report on Monday, March 9th. ValuEngine upgraded shares of Callon Petroleum from a “strong sell” rating to a “sell” rating in a research report on Thursday. Finally, Credit Suisse Group reiterated a “hold” rating and set a $1.00 price objective on shares of Callon Petroleum in a research report on Friday, April 17th. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $5.16.

A number of hedge funds and other institutional investors have recently made changes to their positions in CPE. Alpine Global Management LLC acquired a new position in Callon Petroleum in the 1st quarter valued at approximately $25,000. Two Sigma Securities LLC increased its position in Callon Petroleum by 42.3% in the 1st quarter. Two Sigma Securities LLC now owns 49,840 shares of the oil and natural gas company’s stock valued at $27,000 after acquiring an additional 14,808 shares during the period. Chevy Chase Trust Holdings Inc. acquired a new position in Callon Petroleum in the 4th quarter valued at approximately $29,000. Janney Montgomery Scott LLC boosted its stake in shares of Callon Petroleum by 45.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 60,800 shares of the oil and natural gas company’s stock valued at $33,000 after purchasing an additional 19,005 shares during the last quarter. Finally, Cim Investment Mangement Inc. boosted its stake in shares of Callon Petroleum by 48.1% in the 1st quarter. Cim Investment Mangement Inc. now owns 70,467 shares of the oil and natural gas company’s stock valued at $39,000 after purchasing an additional 22,879 shares during the last quarter. Hedge funds and other institutional investors own 84.73% of the company’s stock.

Shares of Callon Petroleum stock traded up $0.03 on Friday, reaching $1.18. 16,542,642 shares of the stock were exchanged, compared to its average volume of 57,278,104. The firm’s 50 day moving average is $1.12 and its 200-day moving average is $1.97. Callon Petroleum has a one year low of $0.38 and a one year high of $6.76. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a market cap of $468.46 million, a PE ratio of 1.31 and a beta of 2.87.

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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