Callon Petroleum: Q1 Earnings Insights

Shares of Callon Petroleum CPE rose 2.5% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share fell 25.00% year over year to $0.12, which missed the estimate of $0.13.

Revenue of $315,045,000 higher by 106.24% year over year, which missed the estimate of $337,740,000.

Looking Ahead

Callon Petroleum hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Details Of The Call

Date: May 11, 2020

Time: 08:00 PM ET

Webcast URL: https://www.webcaster4.com/Webcast/Page/976/34696

Recent Stock Performance

Company's 52-week high was at $8.47

52-week low: $0.38

Price action over last quarter: down 57.84%

Company Profile

Callon Petroleum Company engages in exploration, development, acquisition, and production of oil and natural gas. Activities are primarily conducted in the Permian Basin region of the west Texas and southeastern New Mexico. Callon relies heavily on the latest horizontal production techniques to extract hydrocarbon products from its assets, with crude oil accounting for over half of production. Historically, a handful of marketing and trading companies have accounted for the majority of the sales for Callon's oil and gas production. Assets are acquired through drilling of emerging zones on existing acreage but also by acquiring additional locations through leasehold purchases, leasing programs, joint ventures, and asset swaps.