Callon Petroleum (NYSE:CPE) - Stock analysts at Capital One Financial decreased their Q3 2020 earnings estimates for shares of Callon Petroleum in a research report issued to clients and investors on Tuesday, October 20th. Capital One Financial analyst P. Johnston now forecasts that the oil and natural gas company will earn $0.12 per share for the quarter, down from their previous estimate of $0.70. Capital One Financial also issued estimates for Callon Petroleum's Q4 2020 earnings at $0.54 EPS and FY2020 earnings at $1.89 EPS. Callon Petroleum (NYSE:CPE) last issued its quarterly earnings data on Tuesday, August 4th. The oil and natural gas company reported $0.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.02) by $0.03. Callon Petroleum had a negative net margin of 164.77% and a positive return on equity of 5.70%. The firm had revenue of $157.23 million during the quarter, compared to analysts' expectations of $201.53 million.
Several other brokerages also recently commented on CPE. MKM Partners lowered their price objective on Callon Petroleum from $14.00 to $10.00 in a research note on Friday, October 2nd. Wells Fargo & Company initiated coverage on Callon Petroleum in a research report on Friday, September 25th. They issued an "underweight" rating and a $4.00 price target for the company. Northland Securities reaffirmed a "hold" rating and set a $1.00 price objective on shares of Callon Petroleum in a report on Monday, July 27th. Siebert Williams Shank reiterated a "sell" rating and issued a $9.00 target price on shares of Callon Petroleum in a research note on Wednesday, August 26th. Finally, ValuEngine lowered shares of Callon Petroleum from a "sell" rating to a "strong sell" rating in a research report on Saturday, October 17th. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of "Hold" and a consensus price target of $5.63.
CPE stock opened at $4.66 on Thursday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.34 and a current ratio of 0.34. The business has a 50-day simple moving average of $5.31 and a two-hundred day simple moving average of $2.83. The company has a market capitalization of $180.06 million, a P/E ratio of 0.82, a price-to-earnings-growth ratio of 0.27 and a beta of 2.93. Callon Petroleum has a 52-week low of $3.80 and a 52-week high of $49.80.
Hedge funds have recently modified their holdings of the company. Atom Investors LP bought a new stake in shares of Callon Petroleum in the 2nd quarter worth approximately $37,000. Sigma Planning Corp increased its position in Callon Petroleum by 38.6% in the second quarter. Sigma Planning Corp now owns 32,771 shares of the oil and natural gas company's stock worth $38,000 after buying an additional 9,131 shares during the last quarter. Cim Investment Mangement Inc. raised its stake in shares of Callon Petroleum by 48.1% in the first quarter. Cim Investment Mangement Inc. now owns 70,467 shares of the oil and natural gas company's stock valued at $39,000 after buying an additional 22,879 shares during the period. Teza Capital Management LLC bought a new stake in shares of Callon Petroleum in the second quarter valued at $44,000. Finally, Advisor Group Holdings Inc. purchased a new position in shares of Callon Petroleum during the 1st quarter valued at $52,000.
Callon Petroleum Company Profile
Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas and southeastern New Mexico. As of December 31, 2018, its estimated net proved reserves totaled 238.5 million barrel of oil equivalent, including 180.1 MMBbls of oil and 350.5 Bcf of natural gas.
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