Wall Street brokerages forecast that Callon Petroleum Company (NYSE:CPE) will post earnings of $0.12 per share for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Callon Petroleum’s earnings, with the lowest EPS estimate coming in at ($0.04) and the highest estimate coming in at $0.19. Callon Petroleum reported earnings of $0.08 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 50%. The firm is expected to report its next earnings results on Monday, February 26th.

On average, analysts expect that Callon Petroleum will report full-year earnings of $0.39 per share for the current year, with EPS estimates ranging from $0.24 to $0.47. For the next year, analysts anticipate that the company will post earnings of $0.72 per share, with EPS estimates ranging from $0.44 to $1.11. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Callon Petroleum.

Callon Petroleum (NYSE:CPE) last released its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.01). Callon Petroleum had a net margin of 30.20% and a return on equity of 4.05%. The company had revenue of $84.60 million during the quarter, compared to analyst estimates of $81.98 million. During the same quarter in the prior year, the firm earned $0.09 earnings per share. Callon Petroleum’s revenue for the quarter was up 51.3% on a year-over-year basis.

CPE has been the topic of several research reports. BMO Capital Markets set a $15.00 price target on shares of Callon Petroleum and gave the company a “buy” rating in a research note on Tuesday, October 10th. Mizuho upgraded shares of Callon Petroleum from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Tuesday. Imperial Capital initiated coverage on shares of Callon Petroleum in a research note on Tuesday, August 15th. They issued an “outperform” rating and a $16.00 price target on the stock. Royal Bank Of Canada set a $16.00 price objective on shares of Callon Petroleum and gave the stock a “buy” rating in a research report on Thursday, August 24th. Finally, Bank of America Corporation started coverage on shares of Callon Petroleum in a research report on Monday, October 16th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Callon Petroleum presently has a consensus rating of “Buy” and an average target price of $17.39.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC increased its holdings in Callon Petroleum by 6.2% in the 2nd quarter. FMR LLC now owns 16,132,114 shares of the oil and natural gas company’s stock worth $171,162,000 after acquiring an additional 934,847 shares during the last quarter. BlackRock Inc. increased its holdings in Callon Petroleum by 7.0% in the 2nd quarter. BlackRock Inc. now owns 12,953,769 shares of the oil and natural gas company’s stock worth $137,439,000 after acquiring an additional 851,876 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Callon Petroleum by 47.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 10,625,848 shares of the oil and natural gas company’s stock worth $119,434,000 after acquiring an additional 3,440,342 shares during the last quarter. State Street Corp increased its holdings in Callon Petroleum by 11.4% in the 2nd quarter. State Street Corp now owns 7,845,502 shares of the oil and natural gas company’s stock worth $83,244,000 after acquiring an additional 802,785 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Callon Petroleum by 1.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 7,426,037 shares of the oil and natural gas company’s stock worth $78,790,000 after acquiring an additional 92,434 shares during the last quarter.

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Callon Petroleum (NYSE CPE) traded up $0.32 during mid-day trading on Thursday, hitting $10.63. 3,742,400 shares of the company traded hands, compared to its average volume of 4,992,254. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.84 and a quick ratio of 0.84. Callon Petroleum has a fifty-two week low of $9.34 and a fifty-two week high of $18.53. The firm has a market capitalization of $2,080.93, a P/E ratio of 28.64 and a beta of 1.38.

Callon Petroleum Company Profile

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

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