Capital One Financial Research Analysts Decrease Earnings Estimates for Callon Petroleum (NYSE:CPE)

Callon Petroleum (NYSE:CPE) – Equities research analysts at Capital One Financial lowered their Q3 2024 earnings estimates for shares of Callon Petroleum in a research report issued to clients and investors on Wednesday, November 15th. Capital One Financial analyst P. Johnston now forecasts that the oil and natural gas company will earn $2.22 per share for the quarter, down from their previous forecast of $2.49. The consensus estimate for Callon Petroleum’s current full-year earnings is $7.92 per share. Capital One Financial also issued estimates for Callon Petroleum’s Q4 2024 earnings at $2.35 EPS and FY2025 earnings at $9.10 EPS.

A number of other research firms also recently commented on CPE. Mizuho lifted their target price on Callon Petroleum from $59.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, September 18th. StockNews.com raised shares of Callon Petroleum from a “sell” rating to a “hold” rating in a research report on Saturday, October 21st. Truist Financial lowered their target price on shares of Callon Petroleum from $51.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, August 7th. Morgan Stanley boosted their price target on shares of Callon Petroleum from $40.00 to $41.00 and gave the company an “equal weight” rating in a research note on Friday, August 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $50.00 price objective on shares of Callon Petroleum in a research report on Wednesday, October 4th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.00.

Callon Petroleum Trading Down 4.1 %

CPE opened at $31.84 on Friday. The stock has a market capitalization of $2.16 billion, a PE ratio of 3.98 and a beta of 2.71. Callon Petroleum has a one year low of $28.91 and a one year high of $44.49. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.40 and a current ratio of 0.40. The business’s 50 day moving average price is $36.98 and its 200 day moving average price is $35.43.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results on Wednesday, November 1st. The oil and natural gas company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.79 by $0.03. The business had revenue of $619.30 million for the quarter, compared to analyst estimates of $599.76 million. Callon Petroleum had a return on equity of 16.26% and a net margin of 20.63%. The company’s quarterly revenue was down 25.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.04 EPS.

Institutional Investors Weigh In On Callon Petroleum

Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its position in shares of Callon Petroleum by 510.9% during the third quarter. Royal Bank of Canada now owns 1,674,634 shares of the oil and natural gas company’s stock worth $65,511,000 after acquiring an additional 1,400,493 shares during the period. Vanguard Group Inc. increased its holdings in Callon Petroleum by 22.4% during the 3rd quarter. Vanguard Group Inc. now owns 6,610,084 shares of the oil and natural gas company’s stock worth $231,419,000 after purchasing an additional 1,210,001 shares during the period. Dimensional Fund Advisors LP raised its position in Callon Petroleum by 54.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,754,939 shares of the oil and natural gas company’s stock valued at $92,124,000 after purchasing an additional 975,132 shares in the last quarter. Woodline Partners LP purchased a new position in shares of Callon Petroleum in the 2nd quarter valued at about $31,528,000. Finally, Boston Trust Walden Corp acquired a new position in shares of Callon Petroleum during the third quarter worth about $27,941,000. 92.79% of the stock is currently owned by institutional investors and hedge funds.

About Callon Petroleum

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, exploration, and development of oil and natural gas properties in West Texas. The company was founded in 1950 and is headquartered in Houston, Texas.