Published On: Thu, Sep 8th, 2016

KeyCorp Research Analysts Lift Earnings Estimates for Callon Petroleum Co. (CPE)

Callon Petroleum Co. (NYSE:CPE) – KeyCorp boosted their FY2016 earnings per share (EPS) estimates for Callon Petroleum in a research note issued on Tuesday. KeyCorp analyst C. Stevens now forecasts that the firm will post earnings of $0.39 per share for the year, up from their prior estimate of $0.38. KeyCorp currently has a “Overweight” rating and a $16.00 target price on the stock.
Several other brokerages have also recently weighed in on CPE. Canaccord Genuity boosted their price target on shares of Callon Petroleum from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank Of Canada upgraded shares of Callon Petroleum from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $15.00 to $18.00 in a research report on Thursday. RBC Capital Markets upgraded shares of Callon Petroleum from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $15.00 to $18.00 in a research report on Thursday. They noted that the move was a valuation call. Roth Capital set a $16.00 price objective on shares of Callon Petroleum and gave the company a “buy” rating in a research report on Wednesday. Finally, Zacks Investment Research cut shares of Callon Petroleum from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $14.45.
Callon Petroleum (NYSE:CPE) traded up 1.067% during midday trading on Thursday, hitting $15.625. 4,471,827 shares of the stock traded hands. The firm’s 50-day moving average is $13.07 and its 200-day moving average is $10.76. The company’s market cap is $2.05 billion. Callon Petroleum has a 52-week low of $4.21 and a 52-week high of $15.91.

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Callon Petroleum (NYSE:CPE) last posted its earnings results on Monday, August 8th. The company reported ($0.61) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.65. The firm had revenue of $45.14 million for the quarter, compared to analysts’ expectations of $47.75 million. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period last year, the company posted ($0.11) earnings per share.
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. It focuses on unconventional, onshore, oil and natural gas reserves in the Permian Basin in West Texas and the Midland Basin.

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