Callon Petroleum (NYSE:CPE) Expected to Announce Quarterly Sales of $335.78 Million

Equities analysts forecast that Callon Petroleum (NYSE:CPE) will announce sales of $335.78 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Callon Petroleum’s earnings. The highest sales estimate is $395.00 million and the lowest is $297.35 million. Callon Petroleum reported sales of $157.23 million during the same quarter last year, which suggests a positive year over year growth rate of 113.6%. The company is expected to announce its next earnings results on Tuesday, August 3rd.

According to Zacks, analysts expect that Callon Petroleum will report full year sales of $1.31 billion for the current fiscal year, with estimates ranging from $1.21 billion to $1.54 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.45 billion, with estimates ranging from $1.37 billion to $1.62 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Callon Petroleum.

Callon Petroleum (NYSE:CPE) last issued its earnings results on Wednesday, May 5th. The oil and natural gas company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.59. Callon Petroleum had a positive return on equity of 5.38% and a negative net margin of 219.88%.

A number of equities analysts have issued reports on the company. Johnson Rice upgraded Callon Petroleum from a “hold” rating to an “accumulate” rating in a research report on Monday, March 15th. JPMorgan Chase & Co. assumed coverage on Callon Petroleum in a report on Tuesday, March 30th. They issued a “neutral” rating for the company. Wells Fargo & Company increased their price target on Callon Petroleum from $21.00 to $26.00 and gave the company an “underweight” rating in a report on Thursday, April 15th. Siebert Williams Shank reissued a “hold” rating and set a $10.00 target price on shares of Callon Petroleum in a research note on Thursday, February 4th. Finally, MKM Partners reissued a “neutral” rating and set a $26.00 target price on shares of Callon Petroleum in a research note on Monday, March 8th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $22.56.

Shares of CPE stock opened at $37.82 on Wednesday. The company has a market capitalization of $1.75 billion, a P/E ratio of -0.73, a P/E/G ratio of 0.46 and a beta of 3.40. The business’s 50 day moving average is $37.06 and its two-hundred day moving average is $21.86. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.65. Callon Petroleum has a 12-month low of $4.50 and a 12-month high of $46.00.

In other Callon Petroleum news, CAO Gregory F. Conaway sold 10,000 shares of the firm’s stock in a transaction dated Friday, March 12th. The shares were sold at an average price of $39.52, for a total value of $395,200.00. Following the transaction, the chief accounting officer now owns 33,200 shares of the company’s stock, valued at $1,312,064. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 transaction of $45,840.00. Following the completion of the transaction, the director now directly owns 70,865 shares in the company, valued at approximately $2,707,043. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,400 shares of company stock valued at $482,812. 2.80% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in CPE. Aigen Investment Management LP bought a new stake in Callon Petroleum during the first quarter worth approximately $269,000. Teacher Retirement System of Texas acquired a new position in Callon Petroleum in the 1st quarter worth approximately $1,971,000. Wakefield Asset Management LLLP acquired a new position in Callon Petroleum in the 1st quarter worth approximately $777,000. State of Tennessee Treasury Department boosted its stake in shares of Callon Petroleum by 14.6% during the 1st quarter. State of Tennessee Treasury Department now owns 16,378 shares of the oil and natural gas company’s stock valued at $631,000 after buying an additional 2,083 shares during the period. Finally, L & S Advisors Inc acquired a new stake in shares of Callon Petroleum during the 1st quarter valued at $2,264,000. Institutional investors own 39.74% of the company’s stock.

Callon Petroleum Company Profile

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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