Callon (CPE) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
Callon Petroleum (CPE) reported $601.36 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 14.6%. EPS of $1.62 for the same period compares to $3.36 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $563.3 million, representing a surprise of +6.76%. The company delivered an EPS surprise of -6.90%, with the consensus EPS estimate being $1.74.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Callon performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total daily production - Total barrels of oil equivalent: 103,426 BOE/D compared to the 101,488.8 BOE/D average estimate based on eight analysts.
Average realized sales price (excluding impact of settled derivatives) - Total oil: $79.05 per barrel versus $81.91 per barrel estimated by six analysts on average.
Average realized sales price (excluding impact of settled derivatives) - Total NGL: $20.94 per barrel versus $22.57 per barrel estimated by six analysts on average.
Average realized sales price (excluding impact of settled derivatives) - Total natural gas: $1.6 per thousand cubic feet compared to the $2.17 per thousand cubic feet average estimate based on six analysts.
Total production - Total barrels of oil equivalent: 9,515 MBOE compared to the 9,308.4 MBOE average estimate based on five analysts.
Production - Total oil: 5,402 MBBL versus 5,279.85 MBBL estimated by four analysts on average.
Production - Total natural gas: 12,096 Mcf versus the four-analyst average estimate of 11,654.19 Mcf.
Production - Total NGLs: 2,097 MBBL compared to the 2,088.41 MBBL average estimate based on four analysts.
Revenues- Oil: $427.03 million compared to the $430.52 million average estimate based on five analysts. The reported number represents a change of -16.9% year over year.
Revenues- Natural gas liquids: $43.92 million compared to the $46.52 million average estimate based on five analysts. The reported number represents a change of -11.8% year over year.
Revenues- Natural gas: $19.41 million versus the five-analyst average estimate of $24.26 million. The reported number represents a year-over-year change of -54.6%.
Revenues- Sales of purchased oil and gas: $110.99 million compared to the $86.65 million average estimate based on four analysts. The reported number represents a change of +13.3% year over year.
View all Key Company Metrics for Callon here>>>
Shares of Callon have returned -5.2% over the past month versus the Zacks S&P 500 composite's +4.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Callon Petroleum Company (CPE) : Free Stock Analysis Report
