Callon Petroleum (CPE) to Release Quarterly Earnings on Wednesday

Callon Petroleum (NYSE:CPE – Get Rating) is set to announce its earnings results after the market closes on Wednesday, May 4th. Analysts expect the company to announce earnings of $3.35 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Callon Petroleum (NYSE:CPE – Get Rating) last announced its earnings results on Wednesday, February 23rd. The oil and natural gas company reported $2.66 EPS for the quarter, missing the Zacks’ consensus estimate of $2.81 by ($0.15). Callon Petroleum had a net margin of 17.86% and a return on equity of 40.46%. The business had revenue of $692.19 million for the quarter, compared to the consensus estimate of $542.75 million. During the same quarter last year, the firm posted $1.00 EPS. On average, analysts expect Callon Petroleum to post $15 EPS for the current fiscal year and $17 EPS for the next fiscal year.

Shares of CPE stock opened at $52.49 on Wednesday. Callon Petroleum has a 12 month low of $25.32 and a 12 month high of $66.48. The stock has a market cap of $3.23 billion, a PE ratio of 8.34 and a beta of 2.81. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 1.44. The company’s fifty day moving average price is $58.12 and its 200-day moving average price is $54.86.

In other Callon Petroleum news, major shareholder Primexx Energy Partners, Ltd sold 5,225 shares of the business’s stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $60.02, for a total value of $313,604.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Holdings L.P. Blackstone III sold 13,353 shares of the company’s stock in a transaction dated Thursday, April 7th. The shares were sold at an average price of $61.54, for a total transaction of $821,743.62. The disclosure for this sale can be found here. In the last three months, insiders sold 1,232,939 shares of company stock valued at $75,744,597. 2.10% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Callon Petroleum by 21.8% during the 4th quarter. BlackRock Inc. now owns 7,390,749 shares of the oil and natural gas company’s stock valued at $349,212,000 after purchasing an additional 1,321,366 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Callon Petroleum by 58.8% during the 4th quarter. Wells Fargo & Company MN now owns 96,029 shares of the oil and natural gas company’s stock valued at $4,537,000 after purchasing an additional 35,539 shares during the last quarter. Comerica Bank increased its position in shares of Callon Petroleum by 13.5% during the 4th quarter. Comerica Bank now owns 40,473 shares of the oil and natural gas company’s stock valued at $2,147,000 after purchasing an additional 4,821 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Callon Petroleum by 343.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 289,041 shares of the oil and natural gas company’s stock valued at $13,657,000 after purchasing an additional 223,904 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Callon Petroleum during the 4th quarter valued at about $306,000. 90.38% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently issued reports on the stock. Morgan Stanley upped their price target on shares of Callon Petroleum from $63.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Friday, April 22nd. Roth Capital upgraded shares of Callon Petroleum from a “neutral” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Monday, April 18th. StockNews.com assumed coverage on shares of Callon Petroleum in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. JPMorgan Chase & Co. cut shares of Callon Petroleum from a “neutral” rating to an “underweight” rating and set a $62.00 price target on the stock. in a research note on Friday, January 21st. Finally, Zacks Investment Research cut shares of Callon Petroleum from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research note on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $72.78.

About Callon Petroleum (Get Rating)

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, 2021, its estimated net proved reserves totaled approximately 484.6 million barrel of oil equivalent, including 290.3 MMBbls oil, 577.3 Bcf of natural gas, and 98.1 MMBbls of natural gas liquids.

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