April 12, 2018 - 7:30 AM EDT
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Free Research Report as Callon Petroleum’s Q4 Bottom-Line Met Expectations

LONDON, UK / ACCESSWIRE / April 12, 2018 / Active-Investors.com has just released a free earnings report on Callon Petroleum Co. (NYSE: CPE). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CPE. The Company posted its financial results on February 27, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). The Company's total revenues beat Wall Street's estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Callon Petroleum most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=CPE

Earnings Highlights and Summary

During Q4 FY17, Callon Petroleum's total revenues came in at $118.21 million, which came in higher than the $69.08 million recorded at the end of Q4 FY16. The Company's total revenues for the reported quarter topped market consensus estimates of $110 million.

The oil and gas Company reported an income available to common stockholders of $21.00 million, or $0.10 per diluted share, in Q4 FY17 compared to a loss available to common stockholders of $3.57 million, or $0.02 loss per diluted share, in Q4 FY16. The Company's adjusted net income increased to $30.20 million, or $0.15 per diluted share, in Q4 FY17 from $13.12 million, or $0.08 per diluted share, in the prior year's same quarter. Market analysts' had also forecasted the Company to report an adjusted net income of $0.15 per share for Q4 FY17.

For the full year FY17, Callon Petroleum's total revenues stood at $366.47 million compared to $200.85 million in FY16. The Company's loss available to common stockholders was $113.13 million, or $0.56 loss per diluted share, in FY17 versus a loss available to common stockholders of $99.11 million, or $0.78 loss per diluted share in FY16.

Operating Metrics

The Natchez, Mississippi-based Company's lease operating expenses increased to $13.20 million during Q4 FY17 from $14.12 million in the past year's comparable quarter. The Company's total operating expenses were $64.19 million in the reported quarter compared to $47.91 million in Q4 FY16. The Company posted an income from operations of $54.03 million during Q4 FY17 compared to $21.17 million in Q4 FY16. Furthermore, the Company's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) stood at $88.94 million in Q4 FY17 compared to $49.27 million in Q4 FY16.

For Q4 FY17, Callon Petroleum's oil production volume increased to 1,936 thousand barrels (MBbls) from 1,287 MBbls in Q4 FY16. The oil realized price was $53.79 per bbl during the reported quarter, up from $47.05 per bbl in the previous year's corresponding quarter.

The quarterly production volume of natural liquids (NGLs) totaled 3,018 million cubic feet (MMcf) in Q4 FY17, which were higher than 2,412 MMcf in Q4 FY16. The Company's average NGLs realized price was $4.67 per Mcf in Q4 FY17 compared to $3.53 per Mcf in Q4 FY16.

The Company's total production was 2,439 thousand barrels of oil equivalent (MBOE) during the reported quarter compared to 1,689 MBOE in Q4 FY16. Meanwhile, the Company's average realized price on total production was 48.47 per BOE during Q4 FY17 compared to 40.90 per BOE in Q4 FY16.

Cash Matters and Balance Sheet

For the quarter ended December 31, 2017, Callon Petroleum generated net cash provided by operating activities of $80.19 million compared to $35.98 million in the prior year's same quarter. The Company's discretionary cash flow stood at $89.04 million in the reported quarter versus $44.39 million in Q4 FY16. Furthermore, the Company's cash and cash equivalents balance fell to $28.00 million as on December 31, 2017, from $652.99 million at the close of books as on December 31, 2016.

Stock Performance Snapshot

April 11, 2018 - At Wednesday's closing bell, Callon Petroleum's stock rose 2.49%, ending the trading session at $12.78.

Volume traded for the day: 3.46 million shares.

Stock performance in the last month – up 8.77%; previous three-month period – up 3.06%; past six-month period – up 14.62%; and year-to-date – up 5.19%

After yesterday's close, Callon Petroleum's market cap was at $2.68 billion.

Price to Earnings (P/E) ratio was at 22.82.

The stock is part of the Basic Materials sector, categorized under the Independent Oil & Gas industry. This sector was up 0.9% at the end of the session.

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Source: ACCESSWIRE Investor Awareness (April 12, 2018 - 7:30 AM EDT)

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