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Callon reports 4Q loss

NATCHEZ, Miss. (AP) _ Callon Petroleum Co. (CPE) on Monday reported a loss of $1.7 million in its fourth quarter.

The Natchez, Mississippi-based company said it had a loss of 2 cents per share. Earnings, adjusted for non-recurring costs, were 8 cents per share.

The results did not meet Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.

The independent oil and gas company posted revenue of $69.1 million in the period, which also did not meet Street forecasts. Nine analysts surveyed by Zacks expected $71.8 million.

For the year, the company reported that its loss narrowed to $91.8 million, or 78 cents per share. Revenue was reported as $200.9 million.

Callon shares have fallen 13 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $13.36, more than doubling in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CPE at https://www.zacks.com/ap/CPE


Keywords: Callon Petroleum, Earnings Report