Callon Petroleum (NYSE:CPE) Expected to Announce Earnings of $3.96 Per Share

Wall Street brokerages expect Callon Petroleum (NYSE:CPEGet Rating) to announce earnings of $3.96 per share for the current quarter, Zacks reports. Four analysts have made estimates for Callon Petroleum’s earnings. The highest EPS estimate is $4.74 and the lowest is $3.54. Callon Petroleum reported earnings of $1.49 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 165.8%. The business is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Callon Petroleum will report full year earnings of $16.03 per share for the current year, with EPS estimates ranging from $14.49 to $18.19. For the next financial year, analysts forecast that the company will post earnings of $18.85 per share, with EPS estimates ranging from $16.38 to $21.02. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Callon Petroleum.

Callon Petroleum (NYSE:CPEGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The oil and natural gas company reported $3.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.35 by $0.08. Callon Petroleum had a return on equity of 42.41% and a net margin of 19.71%. The firm had revenue of $664.80 million during the quarter, compared to the consensus estimate of $587.95 million. During the same quarter in the previous year, the business earned $1.49 earnings per share. The firm’s quarterly revenue was up 107.4% compared to the same quarter last year.

Several equities research analysts have recently weighed in on CPE shares. Zacks Investment Research downgraded Callon Petroleum from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a research report on Tuesday, April 26th. Truist Financial upped their target price on Callon Petroleum from $100.00 to $109.00 in a research report on Thursday, April 21st. StockNews.com initiated coverage on Callon Petroleum in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. JPMorgan Chase & Co. cut 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, Roth Capital upgraded Callon Petroleum from a “neutral” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Monday, April 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $72.78.

In related news, major shareholder Primexx Energy Partners, Ltd sold 52,900 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $61.23, for a total value of $3,239,067.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Bpp Holdco Llc sold 18,429 shares of the firm’s stock in a transaction that occurred on Tuesday, April 5th. The shares were sold at an average price of $63.58, for a total transaction of $1,171,715.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,232,939 shares of company stock valued at $75,744,597. Corporate insiders own 1.80% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Rockefeller Capital Management L.P. grew its holdings in shares of Callon Petroleum by 100.0% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,000 shares of the oil and natural gas company’s stock valued at $49,000 after buying an additional 500 shares during the period. Russell Investments Group Ltd. bought a new stake in Callon Petroleum during the 3rd quarter worth about $68,000. Macquarie Group Ltd. lifted its position in Callon Petroleum by 23.8% during the 3rd quarter. Macquarie Group Ltd. now owns 1,829 shares of the oil and natural gas company’s stock worth $90,000 after buying an additional 352 shares in the last quarter. Captrust Financial Advisors lifted its position in Callon Petroleum by 290.4% during the 3rd quarter. Captrust Financial Advisors now owns 1,839 shares of the oil and natural gas company’s stock worth $90,000 after buying an additional 1,368 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in Callon Petroleum during the 4th quarter worth about $95,000. 95.73% of the stock is owned by institutional investors.

Shares of NYSE CPE traded up $0.12 on Friday, hitting $47.95. The company had a trading volume of 849,189 shares, compared to its average volume of 1,924,501. Callon Petroleum has a 12-month low of $25.32 and a 12-month high of $66.48. The business has a 50 day moving average of $55.56 and a two-hundred day moving average of $54.29. The company has a quick ratio of 0.34, a current ratio of 0.36 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $2.96 billion, a P/E ratio of 5.44 and a beta of 2.72.

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.

Read More

Get a free copy of the Zacks research report on Callon Petroleum (CPE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Callon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.