HOUSTON (AP) _ Callon Petroleum Co. (CPE) on Monday reported third-quarter net income of $55.8 million.
On a per-share basis, the Houston-based company said it had profit of 21 cents. Earnings, adjusted for non-recurring gains, were 19 cents per share.
The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.
The independent oil and gas company posted revenue of $155.4 million in the period, also topping Street forecasts. Ten analysts surveyed by Zacks expected $152.4 million.
In the final minutes of trading on Monday, the company's shares hit $4.18. A year ago, they were trading at $10.37.