KeyCorp Comments on Callon Petroleum’s Q3 2022 Earnings (NYSE:CPE)

Callon Petroleum (NYSE:CPEGet Rating) – KeyCorp issued their Q3 2022 earnings per share (EPS) estimates for Callon Petroleum in a research report issued to clients and investors on Monday, September 19th. KeyCorp analyst T. Rezvan expects that the oil and natural gas company will post earnings per share of $4.18 for the quarter. KeyCorp currently has a “Sector Weight” rating on the stock. The consensus estimate for Callon Petroleum’s current full-year earnings is $15.13 per share. KeyCorp also issued estimates for Callon Petroleum’s Q4 2022 earnings at $4.35 EPS, FY2022 earnings at $15.64 EPS, Q1 2023 earnings at $5.11 EPS, Q2 2023 earnings at $4.61 EPS, Q3 2023 earnings at $4.53 EPS, Q4 2023 earnings at $4.58 EPS and FY2023 earnings at $18.83 EPS.

Several other equities analysts also recently commented on the stock. Wells Fargo & Company lowered their target price on shares of Callon Petroleum from $78.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Monday, July 11th. Morgan Stanley lowered their target price on shares of Callon Petroleum from $70.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Monday, August 29th. Citigroup increased their target price on shares of Callon Petroleum from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, September 9th. Royal Bank of Canada raised shares of Callon Petroleum from a “sector perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research report on Wednesday, July 6th. Finally, Truist Financial lowered their target price on shares of Callon Petroleum from $101.00 to $94.00 and set a “buy” rating on the stock in a research report on Wednesday, July 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $71.63.

Callon Petroleum Price Performance

Shares of NYSE:CPE opened at $37.83 on Wednesday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 1.11. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 2.58 and a beta of 2.72. Callon Petroleum has a 1 year low of $33.85 and a 1 year high of $66.48. The business has a fifty day simple moving average of $41.25 and a 200 day simple moving average of $49.06.

Institutional Investors Weigh In On Callon Petroleum

Hedge funds have recently made changes to their positions in the stock. Mutual of America Capital Management LLC lifted its stake in shares of Callon Petroleum by 5.0% in the first quarter. Mutual of America Capital Management LLC now owns 6,809 shares of the oil and natural gas company’s stock valued at $402,000 after buying an additional 323 shares during the period. HighTower Advisors LLC lifted its stake in shares of Callon Petroleum by 36.2% in the fourth quarter. HighTower Advisors LLC now owns 5,757 shares of the oil and natural gas company’s stock valued at $273,000 after buying an additional 1,531 shares during the period. Fox Run Management L.L.C. bought a new stake in shares of Callon Petroleum in the first quarter valued at about $298,000. Quantitative Investment Management LLC bought a new stake in shares of Callon Petroleum in the first quarter valued at about $864,000. Finally, Polianta Ltd bought a new stake in shares of Callon Petroleum in the first quarter valued at about $909,000. Institutional investors own 87.85% of the company’s stock.

About Callon Petroleum

(Get Rating)

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, 2021, its estimated net proved reserves totaled approximately 484.6 million barrel of oil equivalent, including 290.3 MMBbls oil, 577.3 Bcf of natural gas, and 98.1 MMBbls of natural gas liquids.

See Also

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

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