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Callon Petroleum Company (CPE - Snapshot Report), engaged in the exploration and production of oil and gas, is a company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CPE’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Callon Petroleum could be a solid choice for investors.

Current Quarter Estimates for CPE
In the past 30 days, 1 estimate has gone higher for Callon Petroleum with no downward revision in the same time period. The trend has been pretty favorable too, with estimates increasing from 12 cents per share 30 days ago, to 13 cents a share today, a move of 8.3%.

Current Year Estimates for CPE
Meanwhile, Callon Petroleum’s current year figures have seen 1 estimate moving higher in the past month, compared to no downward revision. The consensus estimate trend has also seen a boost for this time frame, increasing from 47 cents per share 30 days ago to 52 cents per share today, an increase of 10.6%.