Analysts Expect Callon Petroleum (NYSE:CPE) to Post $1.04 EPS


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Brokerages forecast that Callon Petroleum (NYSE:CPE) will post $1.04 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Callon Petroleum’s earnings, with the lowest EPS estimate coming in at $0.81 and the highest estimate coming in at $1.18. Callon Petroleum reported earnings of $1.20 per share during the same quarter last year, which would suggest a negative year over year growth rate of 13.3%. The business is expected to announce its next quarterly earnings results on Monday, May 10th.

On average, analysts expect that Callon Petroleum will report full-year earnings of $5.47 per share for the current fiscal year, with EPS estimates ranging from $3.47 to $6.91. For the next year, analysts expect that the business will report earnings of $7.59 per share, with EPS estimates ranging from $4.05 to $9.63. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Callon Petroleum.

Callon Petroleum (NYSE:CPE) last issued its quarterly earnings data on Tuesday, February 23rd. The oil and natural gas company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.50. The firm had revenue of $295.97 million during the quarter, compared to analysts’ expectations of $261.57 million. Callon Petroleum had a positive return on equity of 5.38% and a negative net margin of 219.88%.

A number of brokerages recently weighed in on CPE. Truist Securities upped their price objective on Callon Petroleum from $29.00 to $38.00 in a research note on Thursday, April 1st. MKM Partners reiterated a “neutral” rating and issued a $26.00 price target on shares of Callon Petroleum in a research note on Monday, March 8th. Morgan Stanley increased their price target on Callon Petroleum from $15.00 to $37.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 17th. JPMorgan Chase & Co. initiated coverage on Callon Petroleum in a research note on Tuesday, March 30th. They issued a “neutral” rating for the company. Finally, Royal Bank of Canada increased their price target on Callon Petroleum from $16.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, December 17th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $15.16.

In related news, CAO Gregory F. Conaway sold 10,000 shares of the firm’s stock in a transaction dated Friday, March 12th. The stock was sold at an average price of $39.52, for a total transaction of $395,200.00. Following the sale, the chief accounting officer now directly owns 33,200 shares of the company’s stock, valued at $1,312,064. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director S P. Iv Johnson sold 1,200 shares of the firm’s stock in a transaction dated Thursday, March 18th. The stock was sold at an average price of $38.20, for a total value of $45,840.00. Following the sale, the director now directly owns 70,865 shares in the company, valued at $2,707,043. The disclosure for this sale can be found here. 2.80% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of CPE. GSA Capital Partners LLP acquired a new stake in Callon Petroleum in the fourth quarter valued at approximately $947,000. SG Americas Securities LLC acquired a new stake in Callon Petroleum in the fourth quarter valued at approximately $183,000. BlackRock Inc. grew its holdings in Callon Petroleum by 1.6% in the fourth quarter. BlackRock Inc. now owns 4,054,348 shares of the oil and natural gas company’s stock valued at $53,355,000 after purchasing an additional 62,407 shares during the period. Russell Investments Group Ltd. acquired a new stake in Callon Petroleum in the fourth quarter valued at approximately $722,000. Finally, Alliancebernstein L.P. acquired a new stake in Callon Petroleum in the fourth quarter valued at approximately $211,000. 39.74% of the stock is currently owned by institutional investors.

Shares of NYSE CPE opened at $38.94 on Monday. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.38 and a quick ratio of 0.38. The stock has a market capitalization of $1.80 billion, a P/E ratio of -0.75, a price-to-earnings-growth ratio of 0.46 and a beta of 3.40. Callon Petroleum has a 1-year low of $3.90 and a 1-year high of $42.31. The business has a fifty day moving average price of $33.91 and a 200 day moving average price of $16.48.

About Callon Petroleum

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, exploration, and development of oil and natural gas properties in Permian Basin in West Texas. As of December 31, 2020, its estimated net proved reserves totaled approximately 475.9 million barrel of oil equivalent, including 289.5 MMBbls oil, 541.6 Bcf of natural gas, and 96.1 MMBbls of natural gas liquids.

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

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