Callon Petroleum to Post Q1 2018 Earnings of $0.19 Per Share, Imperial Capital Forecasts (CPE)

Callon Petroleum (NYSE:CPE) – Imperial Capital lifted their Q1 2018 earnings per share (EPS) estimates for Callon Petroleum in a research note issued to investors on Tuesday, April 24th. Imperial Capital analyst I. Haas now forecasts that the oil and natural gas company will post earnings of $0.19 per share for the quarter, up from their previous estimate of $0.18. Imperial Capital has a “Outperform” rating and a $21.00 price objective on the stock. Imperial Capital also issued estimates for Callon Petroleum’s FY2019 earnings at $1.30 EPS.

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Callon Petroleum (NYSE:CPE) last released its quarterly earnings results on Tuesday, February 27th. The oil and natural gas company reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. The business had revenue of $118.21 million for the quarter, compared to analyst estimates of $109.95 million. Callon Petroleum had a net margin of 32.86% and a return on equity of 5.02%.



A number of other analysts have also issued reports on CPE. Jefferies Group set a $18.00 target price on shares of Callon Petroleum and gave the stock a “buy” rating in a research report on Wednesday, March 14th. Piper Jaffray restated a “buy” rating and set a $16.00 target price on shares of Callon Petroleum in a research report on Thursday, March 15th. B. Riley set a $12.00 target price on shares of Callon Petroleum and gave the stock a “hold” rating in a research report on Friday, March 9th. Deutsche Bank initiated coverage on shares of Callon Petroleum in a research report on Thursday, February 1st. They set a “buy” rating and a $15.00 target price on the stock. Finally, Zacks Investment Research lowered shares of Callon Petroleum from a “hold” rating to a “sell” rating in a research report on Monday, February 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $16.42.

CPE stock opened at $14.01 on Wednesday. The company has a market capitalization of $2,879.66, a PE ratio of 33.36, a price-to-earnings-growth ratio of 0.50 and a beta of 1.19. Callon Petroleum has a 12 month low of $9.34 and a 12 month high of $14.44. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.33.

Institutional investors and hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its holdings in shares of Callon Petroleum by 8.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 482,244 shares of the oil and natural gas company’s stock valued at $5,859,000 after purchasing an additional 39,549 shares during the last quarter. Glenmede Trust Co. NA boosted its holdings in shares of Callon Petroleum by 34.8% in the 4th quarter. Glenmede Trust Co. NA now owns 3,594,100 shares of the oil and natural gas company’s stock valued at $43,667,000 after purchasing an additional 927,463 shares during the last quarter. Thrivent Financial For Lutherans boosted its holdings in shares of Callon Petroleum by 34.9% in the 4th quarter. Thrivent Financial For Lutherans now owns 1,446,211 shares of the oil and natural gas company’s stock valued at $17,572,000 after purchasing an additional 374,442 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Callon Petroleum in the 4th quarter valued at $10,291,000. Finally, MetLife Investment Advisors LLC acquired a new position in shares of Callon Petroleum in the 4th quarter valued at $2,721,000.

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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. As of December 31, 2017, its estimated net proved reserves totaled 137.0 million barrel of oil equivalent.

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

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