Q2 2020 EPS Estimates for Callon Petroleum (NYSE:CPE) Decreased by Analyst

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Callon Petroleum (NYSE:CPE) – Analysts at SunTrust Banks lowered their Q2 2020 earnings estimates for Callon Petroleum in a research report issued to clients and investors on Wednesday, October 16th. SunTrust Banks analyst N. Dingmann now expects that the oil and natural gas company will post earnings per share of $0.25 for the quarter, down from their prior forecast of $0.26. SunTrust Banks also issued estimates for Callon Petroleum’s Q3 2020 earnings at $0.28 EPS, Q4 2020 earnings at $0.30 EPS, Q1 2021 earnings at $0.28 EPS, Q2 2021 earnings at $0.30 EPS and FY2021 earnings at $1.26 EPS.

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

Several other research firms also recently issued reports on CPE. ValuEngine upgraded shares of Callon Petroleum from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Jefferies Financial Group downgraded shares of Callon Petroleum from a “buy” rating to a “hold” rating and set a $11.00 price objective on the stock. in a report on Monday, July 15th. Barclays cut their price objective on shares of Callon Petroleum from $9.00 to $6.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Citigroup cut their price objective on shares of Callon Petroleum from $10.00 to $8.50 and set a “buy” rating on the stock in a report on Monday, September 23rd. Finally, Imperial Capital cut their price objective on shares of Callon Petroleum from $16.00 to $11.00 and set an “in-line” rating on the stock in a report on Tuesday, July 16th. 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. The stock presently has a consensus rating of “Buy” and an average price target of $10.83.

CPE opened at $3.82 on Monday. Callon Petroleum has a 52-week low of $3.75 and a 52-week high of $12.02. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.44. The company has a market cap of $934.10 million, a P/E ratio of 4.66, a price-to-earnings-growth ratio of 0.52 and a beta of 1.42. The firm’s 50-day moving average price is $4.25 and its 200-day moving average price is $5.85.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in Callon Petroleum by 0.8% in the 2nd quarter. BlackRock Inc. now owns 26,631,505 shares of the oil and natural gas company’s stock worth $175,502,000 after buying an additional 219,910 shares during the period. Vanguard Group Inc. increased its holdings in Callon Petroleum by 3.7% in the 2nd quarter. Vanguard Group Inc. now owns 22,086,955 shares of the oil and natural gas company’s stock worth $145,552,000 after buying an additional 778,699 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Callon Petroleum by 10.7% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,392,232 shares of the oil and natural gas company’s stock worth $55,305,000 after buying an additional 811,139 shares during the period. Macquarie Group Ltd. grew its stake in shares of Callon Petroleum by 1,098.7% during the 2nd quarter. Macquarie Group Ltd. now owns 7,230,540 shares of the oil and natural gas company’s stock worth $47,649,000 after purchasing an additional 6,627,337 shares during the period. Finally, Silvercrest Asset Management Group LLC grew its stake in shares of Callon Petroleum by 21.8% during the 2nd quarter. Silvercrest Asset Management Group LLC now owns 7,039,169 shares of the oil and natural gas company’s stock worth $46,388,000 after purchasing an additional 1,261,198 shares during the period.

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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