Analysts forecast that Callon Petroleum Company (NYSE:CPE) will announce sales of $83.06 million for the current quarter, Zacks reports. Nine analysts have provided estimates for Callon Petroleum’s earnings. The highest sales estimate is $88.70 million and the lowest is $80.07 million. Callon Petroleum reported sales of $55.93 million during the same quarter last year, which would suggest a positive year over year growth rate of 48.5%. The firm is expected to report its next earnings results after the market closes on Monday, November 6th.
On average, analysts expect that Callon Petroleum will report full year sales of $83.06 million for the current fiscal year, with estimates ranging from $333.00 million to $351.60 million. For the next fiscal year, analysts anticipate that the firm will report sales of $520.63 million per share, with estimates ranging from $429.20 million to $557.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Callon Petroleum.
CPE has been the topic of a number of recent analyst reports. Citigroup Inc. decreased their target price on Callon Petroleum from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Zacks Investment Research lowered Callon Petroleum from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. BMO Capital Markets set a $15.00 price objective on Callon Petroleum and gave the company a “buy” rating in a report on Tuesday, October 10th. Imperial Capital assumed coverage on Callon Petroleum in a report on Tuesday, August 15th. They issued an “outperform” rating and a $16.00 price objective on the stock. Finally, Northland Securities set a $18.00 price objective on Callon Petroleum and gave the company a “buy” rating in a report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. Callon Petroleum has an average rating of “Buy” and a consensus target price of $17.50.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Callon Petroleum by 4.3% during the first quarter. Vanguard Group Inc. now owns 16,158,249 shares of the oil and natural gas company’s stock worth $212,642,000 after buying an additional 667,220 shares during the period. FMR LLC increased its position in Callon Petroleum by 6.2% during the second quarter. FMR LLC now owns 16,132,114 shares of the oil and natural gas company’s stock worth $171,162,000 after buying an additional 934,847 shares during the period. BlackRock Inc. increased its position in Callon Petroleum by 7.0% during the second quarter. BlackRock Inc. now owns 12,953,769 shares of the oil and natural gas company’s stock worth $137,439,000 after buying an additional 851,876 shares during the period. State Street Corp increased its position in Callon Petroleum by 11.4% during the second quarter. State Street Corp now owns 7,845,502 shares of the oil and natural gas company’s stock worth $83,244,000 after buying an additional 802,785 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Callon Petroleum by 1.3% during the second quarter. Goldman Sachs Group Inc. now owns 7,426,037 shares of the oil and natural gas company’s stock worth $78,790,000 after buying an additional 92,434 shares during the period.
Callon Petroleum (NYSE:CPE) opened at $11.71 on Monday. Callon Petroleum has a 52-week low of $9.34 and a 52-week high of $18.53. The stock has a market capitalization of $2,363.41, a P/E ratio of 32.53 and a beta of 1.38. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.41 and a current ratio of 1.41.
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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