FY2018 Earnings Estimate for Callon Petroleum Company (CPE) Issued By Seaport Global Securities

Callon Petroleum Company (NYSE:CPE) – Investment analysts at Seaport Global Securities lifted their FY2018 earnings estimates for shares of Callon Petroleum Company in a research note issued on Monday. Seaport Global Securities analyst M. Kelly now forecasts that the oil and natural gas company will earn $0.80 per share for the year, up from their previous estimate of $0.79.

Callon Petroleum Company (NYSE:CPE) last posted its quarterly earnings data on Monday, February 27th. The oil and natural gas company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by $0.02. The firm had revenue of $69.10 million for the quarter, compared to the consensus estimate of $72.03 million. Callon Petroleum Company had a positive return on equity of 4.44% and a negative net margin of 122.93%. The company’s revenue was up 105.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.05 EPS.

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

Other equities analysts have also recently issued reports about the stock. Roth Capital set a $23.00 target price on shares of Callon Petroleum Company and gave the company a “buy” rating in a report on Saturday, April 1st. Eurobank EFG raised shares of Callon Petroleum Company from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Thursday, April 13th. EuroPacific Canada raised shares of Callon Petroleum Company from a “neutral” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Thursday, April 13th. Evercore ISI cut shares of Callon Petroleum Company from an “outperform” rating to an “in-line” rating and cut their target price for the company from $17.00 to $16.00 in a report on Wednesday. Finally, Stifel Nicolaus assumed coverage on shares of Callon Petroleum Company in a research note on Wednesday, April 12th. They issued a “buy” rating and a $21.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $18.04.

Callon Petroleum Company (NYSE:CPE) traded up 0.52% on Wednesday, hitting $11.56. 3,498,524 shares of the company traded hands. The firm’s market capitalization is $2.32 billion. The stock’s 50-day moving average is $12.32 and its 200 day moving average is $14.38. Callon Petroleum Company has a 12 month low of $9.89 and a 12 month high of $18.53.

In other Callon Petroleum Company news, VP Jerry A. Weant sold 4,000 shares of the business’s stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $14.45, for a total transaction of $57,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.61% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. FMR LLC raised its stake in Callon Petroleum Company by 29.1% in the fourth quarter. FMR LLC now owns 13,129,617 shares of the oil and natural gas company’s stock valued at $201,803,000 after buying an additional 2,958,600 shares in the last quarter. Discovery Capital Management LLC CT raised its stake in Callon Petroleum Company by 9.7% in the fourth quarter. Discovery Capital Management LLC CT now owns 6,791,146 shares of the oil and natural gas company’s stock valued at $104,380,000 after buying an additional 599,426 shares in the last quarter. State Street Corp raised its stake in Callon Petroleum Company by 1.9% in the fourth quarter. State Street Corp now owns 5,396,061 shares of the oil and natural gas company’s stock valued at $82,940,000 after buying an additional 99,606 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in Callon Petroleum Company during the fourth quarter valued at approximately $67,661,000. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Callon Petroleum Company during the fourth quarter valued at approximately $62,283,000. Institutional investors own 89.06% of the company’s stock.

Callon Petroleum Company Company Profile

Callon Petroleum Company is an independent oil and natural gas company. The Company is engaged in the exploration, development, acquisition and production of oil and natural gas properties. The Company focuses on the acquisition and development of unconventional oil and natural gas reserves in the Permian Basin.

5 Day Chart for NYSE:CPE

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