Callon Petroleum Company (NYSE:CPE) is reporting third quarter financial results on Monday 2nd November 2020, after market close.
According to analysts surveyed by Thomson Reuters, CPE is expected to report 3Q20 income of $ 0.01 per share from revenue of $ 248.96 million.
For the full year, analysts anticipate top line of $ 948.91 million, while looking forward to income of $ 1.47 per share bottom line.
Previous Quarter Performance
Callon Petroleum Company revealed income for the second quarter of $ 0.01 per share, from the revenue of $ 241.44 million. The quarterly earnings contracted 94.44 percent while revenues grew 44.53 percent compared with the same quarter last year.
Wall street analysts are predicting, CPE to report 2Q20 loss of $ 0.05 per share from revenue of $ 196.58 million. The bottom line results beat street analysts by $ 0.06 or 120.00 percent, at the same time, top line results outshined analysts by $ 44.86 million or 22.82 percent.
Stock Performance
On Friday, shares of Callon Petroleum Company has traded high as $ 5.23 and has cracked $ 4.93 on the downward trend, reaching $ 5.23 with volume of 1.78 million shares.
According to the previous trading day, closing price of $ 5.23, representing a 33.95 % increase from the 52 week low of $ 3.80 and a 89.78 % decrease over the 52 week high of $ 49.80.
The company has a market capital of $ 207.89 million and is part of the Energy sector and Oil & Gas E&P industry.
Recent Analyst recommendations
- On 19th October 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 6.00 target price.
- On 25th September 2020, initiated by Wells Fargo & Co at Underweight rating, with $ 4.00 target price.
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. The company was founded in 1950 and is headquartered in Houston, Texas.
