SunTrust Banks Equities Analysts Raise Earnings Estimates for Callon Petroleum (CPE)
Callon Petroleum (NYSE:CPE) – Research analysts at SunTrust Banks increased their FY2017 earnings estimates for shares of Callon Petroleum in a research note issued to investors on Tuesday. SunTrust Banks analyst N. Dingmann now expects that the oil and natural gas company will earn $0.43 per share for the year, up from their previous forecast of $0.40. SunTrust Banks has a “Buy” rating and a $16.00 price target on the stock. SunTrust Banks also issued estimates for Callon Petroleum’s Q4 2017 earnings at $0.15 EPS, FY2018 earnings at $0.85 EPS, FY2019 earnings at $1.37 EPS and FY2020 earnings at $1.72 EPS.
Other equities research analysts have also issued research reports about the company. Northland Securities set a $16.00 price objective on Callon Petroleum and gave the stock a “buy” rating in a research report on Monday, December 11th. Scotiabank set a $16.00 target price on Callon Petroleum and gave the stock a “buy” rating in a report on Saturday, November 25th. Mizuho raised Callon Petroleum from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Tuesday, November 21st. BMO Capital Markets set a $15.00 target price on Callon Petroleum and gave the stock a “buy” rating in a report on Tuesday, November 14th. Finally, Bank of America started coverage on Callon Petroleum in a report on Monday, October 16th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company’s stock. Callon Petroleum currently has a consensus rating of “Buy” and an average target price of $16.39.
Several large investors have recently made changes to their positions in CPE. Systematic Financial Management LP raised its stake in Callon Petroleum by 6.5% during the 4th quarter. Systematic Financial Management LP now owns 889,771 shares of the oil and natural gas company’s stock worth $10,811,000 after buying an additional 54,401 shares during the period. Virtu Financial LLC acquired a new position in Callon Petroleum during the 4th quarter worth approximately $151,000. Schroder Investment Management Group raised its stake in Callon Petroleum by 76.1% during the 4th quarter. Schroder Investment Management Group now owns 1,942,533 shares of the oil and natural gas company’s stock worth $23,602,000 after buying an additional 839,683 shares during the period. Bank of New York Mellon Corp raised its stake in Callon Petroleum by 3.9% during the 4th quarter. Bank of New York Mellon Corp now owns 5,069,098 shares of the oil and natural gas company’s stock worth $61,591,000 after buying an additional 191,088 shares during the period. Finally, Arizona State Retirement System raised its stake in Callon Petroleum by 27.8% during the 4th quarter. Arizona State Retirement System now owns 145,283 shares of the oil and natural gas company’s stock worth $1,765,000 after buying an additional 31,575 shares during the period.
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About Callon Petroleum
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.
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