Analysts Anticipate Callon Petroleum (CPE) Will Announce Quarterly Sales of $132.31 Million

Equities research analysts expect Callon Petroleum (NYSE:CPE) to post $132.31 million in sales for the current quarter, according to Zacks. Twelve analysts have made estimates for Callon Petroleum’s earnings. The highest sales estimate is $139.20 million and the lowest is $119.53 million. Callon Petroleum reported sales of $82.28 million in the same quarter last year, which indicates a positive year-over-year growth rate of 60.8%. The company is expected to issue its next quarterly earnings results on Wednesday, August 1st.

On average, analysts expect that Callon Petroleum will report full-year sales of $556.24 million for the current financial year, with estimates ranging from $525.09 million to $588.12 million. For the next year, analysts expect that the firm will report sales of $726.73 million per share, with estimates ranging from $651.30 million to $756.20 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Callon Petroleum.

Callon Petroleum (NYSE:CPE) last issued its quarterly earnings data on Tuesday, February 27th. The oil and natural gas company reported $0.15 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.15. Callon Petroleum had a return on equity of 5.98% and a net margin of 31.28%. The business had revenue of $118.21 million during the quarter, compared to analyst estimates of $109.95 million.



A number of research firms recently weighed in on CPE. TheStreet upgraded Callon Petroleum from a “c+” rating to a “b-” rating in a research note on Wednesday, April 4th. ValuEngine upgraded Callon Petroleum from a “sell” rating to a “hold” rating in a research report on Tuesday, March 20th. Zacks Investment Research cut Callon Petroleum from a “hold” rating to a “sell” rating in a research report on Monday, February 5th. Jefferies Group restated a “buy” rating and issued a $17.00 price target on shares of Callon Petroleum in a research report on Tuesday, January 30th. Finally, SunTrust Banks restated a “buy” rating and issued a $16.00 price target on shares of Callon Petroleum in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $16.42.

Large investors have recently made changes to their positions in the stock. Miller Investment Management LP purchased a new stake in Callon Petroleum in the 1st quarter worth approximately $132,000. Virtu Financial LLC purchased a new position in shares of Callon Petroleum during the fourth quarter valued at approximately $151,000. MHI Funds LLC purchased a new position in shares of Callon Petroleum during the fourth quarter valued at approximately $161,000. Cubist Systematic Strategies LLC boosted its position in shares of Callon Petroleum by 175.9% during the first quarter. Cubist Systematic Strategies LLC now owns 14,654 shares of the oil and natural gas company’s stock valued at $194,000 after buying an additional 9,343 shares during the period. Finally, Zeke Capital Advisors LLC purchased a new position in shares of Callon Petroleum during the first quarter valued at approximately $207,000.

Shares of Callon Petroleum traded down $0.49, hitting $13.60, on Tuesday, according to MarketBeat Ratings. The company’s stock had a trading volume of 234,378 shares, compared to its average volume of 4,329,617. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.62 and a current ratio of 0.62. Callon Petroleum has a fifty-two week low of $13.38 and a fifty-two week high of $13.66. The firm has a market capitalization of $2.75 billion, a PE ratio of 32.39, a P/E/G ratio of 0.33 and a beta of 1.20.

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

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

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