Callon Petroleum Company (NYSE:CPE) is an Oil-US Exploration and Production company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CPE’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Callon Petroleum could be a solid choice for investors.
Current Quarter Estimates for CPE
In the past 30 days, 7 estimates has gone higher for Callon Petroleum while none has gone lower in the same time period. The trend has been pretty favorable too, with estimates rising from earnings of 5 cents per share 30 days ago, to earnings of 7 cents today, a move of 40%.
Current Year Estimates for CPE
CALLON PETE-DEL Price and Consensus
Meanwhile, Callon Petroleum current year figures are also looking quite promising, with 5 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame with estimates rising from earnings of 18 cents per share 30 days ago, to earnings of 21 cents today, a move of 16.7%.
Bottom Line
The stock has also started to move higher lately, adding 28.4% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.
CALLON PETE-DEL (CPE): Free Stock Analysis Report
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