Capital One Financial Equities Analysts Decrease Earnings Estimates for Callon Petroleum (NYSE:CPE)

Callon Petroleum (NYSE:CPE – Get Rating) – Analysts at Capital One Financial dropped their Q4 2023 EPS estimates for Callon Petroleum in a report issued on Thursday, May 18th. Capital One Financial analyst P. Johnston now forecasts that the oil and natural gas company will post earnings per share of $2.14 for the quarter, down from their prior estimate of $2.71. The consensus estimate for Callon Petroleum’s current full-year earnings is $9.39 per share. Capital One Financial also issued estimates for Callon Petroleum’s FY2024 earnings at $8.46 EPS.

Callon Petroleum (NYSE:CPE – Get Rating) last released its quarterly earnings data on Wednesday, May 3rd. The oil and natural gas company reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.02). Callon Petroleum had a net margin of 46.15% and a return on equity of 27.29%. The business had revenue of $560.00 million for the quarter, compared to the consensus estimate of $535.29 million. During the same quarter in the prior year, the business posted $3.43 earnings per share. Callon Petroleum’s revenue for the quarter was down 27.9% on a year-over-year basis.

CPE has been the subject of a number of other research reports. Citigroup decreased their target price on shares of Callon Petroleum from $40.00 to $36.00 in a research report on Sunday. Stifel Nicolaus raised their price target on shares of Callon Petroleum from $56.00 to $58.00 in a report on Thursday, April 27th. StockNews.com initiated coverage on shares of Callon Petroleum in a report on Thursday. They issued a “hold” rating for the company. Truist Financial raised their price target on shares of Callon Petroleum from $55.00 to $71.00 in a report on Monday, May 8th. Finally, Mizuho decreased their price target on shares of Callon Petroleum from $65.00 to $54.00 in a report on Friday, March 10th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $56.13.

Callon Petroleum Trading Down 1.0 %

NYSE:CPE opened at $32.17 on Monday. Callon Petroleum has a 52 week low of $28.91 and a 52 week high of $64.08. The firm has a 50 day moving average of $33.18 and a 200 day moving average of $37.33. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 1.43 and a beta of 2.73.

Institutional Trading of Callon Petroleum

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in shares of Callon Petroleum in the first quarter valued at about $26,000. Banque Cantonale Vaudoise acquired a new stake in shares of Callon Petroleum in the first quarter valued at about $33,000. Quadrant Capital Group LLC grew its position in shares of Callon Petroleum by 220.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,147 shares of the oil and natural gas company’s stock valued at $43,000 after purchasing an additional 789 shares during the period. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Callon Petroleum in the fourth quarter valued at about $50,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Callon Petroleum in the fourth quarter valued at about $97,000. Institutional investors and hedge funds own 83.60% of the company’s stock.

Insider Transactions at Callon Petroleum

In other Callon Petroleum news, Director Steven A. Webster acquired 20,000 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were purchased at an average price of $31.63 per share, for a total transaction of $632,600.00. Following the completion of the purchase, the director now directly owns 562,824 shares of the company’s stock, valued at $17,802,123.12. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Steven A. Webster purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were bought at an average price of $30.24 per share, for a total transaction of $302,400.00. Following the completion of the transaction, the director now owns 592,824 shares in the company, valued at $17,926,997.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven A. Webster purchased 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The shares were purchased at an average price of $31.63 per share, for a total transaction of $632,600.00. Following the transaction, the director now owns 562,824 shares of the company’s stock, valued at approximately $17,802,123.12. The disclosure for this purchase can be found here. Insiders have acquired 30,250 shares of company stock worth $944,795 over the last 90 days. 1.80% of the stock is currently owned by company insiders.

About Callon Petroleum

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Callon Petroleum Co engages in the exploration, development, acquisition, and production of oil and natural gas properties in the United States. It focuses on unconventional oil and natural gas reserves in the Permian Basin. The company was founded by Sim C. Callon and John S. Callon in 1950 and is headquartered in Houston, TX.