$160.61 Million in Sales Expected for Callon Petroleum (NYSE:CPE) This Quarter

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Wall Street brokerages expect Callon Petroleum (NYSE:CPE) to announce sales of $160.61 million for the current quarter, according to Zacks. Ten analysts have provided estimates for Callon Petroleum’s earnings, with the highest sales estimate coming in at $166.00 million and the lowest estimate coming in at $154.43 million. Callon Petroleum reported sales of $161.21 million during the same quarter last year, which would suggest a negative year over year growth rate of 0.4%. The business is scheduled to report its next earnings results on Tuesday, November 5th.

On average, analysts expect that Callon Petroleum will report full year sales of $651.95 million for the current fiscal year, with estimates ranging from $628.11 million to $668.00 million. For the next financial year, analysts expect that the firm will report sales of $770.66 million, with estimates ranging from $710.40 million to $811.54 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Callon Petroleum.

Callon Petroleum (NYSE:CPE) last released its earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $163.05 million. During the same period in the prior year, the company posted $0.23 EPS. The company’s revenue was up 21.9% compared to the same quarter last year.

CPE has been the subject of several research reports. Jefferies Financial Group cut 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. Northland Securities reaffirmed a “buy” rating and set a $10.00 price target on shares of Callon Petroleum in a research note on Wednesday, August 7th. Capital One Financial raised shares of Callon Petroleum from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 23rd. Evercore ISI reaffirmed a “hold” rating and set a $12.00 price target on shares of Callon Petroleum in a research note on Thursday, August 8th. Finally, Stephens set a $11.00 price target on Callon Petroleum and gave the company a “buy” rating in a report on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $11.89.

Institutional investors and hedge funds have recently modified their holdings of the business. Private Capital Group LLC increased its holdings in shares of Callon Petroleum by 135.5% during the first quarter. Private Capital Group LLC now owns 4,164 shares of the oil and natural gas company’s stock valued at $31,000 after acquiring an additional 2,396 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Callon Petroleum during the second quarter valued at approximately $68,000. Miller Investment Management LP bought a new stake in shares of Callon Petroleum during the first quarter valued at approximately $76,000. Cornerstone Investment Partners LLC bought a new stake in shares of Callon Petroleum during the first quarter valued at approximately $81,000. Finally, Signaturefd LLC increased its holdings in shares of Callon Petroleum by 50.1% during the first quarter. Signaturefd LLC now owns 11,314 shares of the oil and natural gas company’s stock valued at $85,000 after acquiring an additional 3,777 shares in the last quarter.

NYSE CPE traded up $0.22 during trading hours on Tuesday, reaching $4.51. 18,378,000 shares of the company’s stock were exchanged, compared to its average volume of 16,267,651. The company has a market capitalization of $979.43 million, a price-to-earnings ratio of 5.50, a price-to-earnings-growth ratio of 0.51 and a beta of 1.44. Callon Petroleum has a one year low of $4.08 and a one year high of $13.09. The company’s 50-day moving average is $5.39 and its two-hundred day moving average is $6.88. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.47 and a current ratio of 0.47.

Callon Petroleum Company Profile

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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