Brokerages expect Laredo Petroleum Inc (NYSE:LPI) to post earnings of $0.21 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Laredo Petroleum’s earnings. The lowest EPS estimate is $0.10 and the highest is $0.27. Laredo Petroleum posted earnings per share of $0.16 during the same quarter last year, which would suggest a positive year over year growth rate of 31.3%. The business is scheduled to announce its next earnings report on Wednesday, February 12th.
According to Zacks, analysts expect that Laredo Petroleum will report full year earnings of $0.77 per share for the current fiscal year, with EPS estimates ranging from $0.68 to $0.81. For the next fiscal year, analysts expect that the company will report earnings of $0.87 per share, with EPS estimates ranging from $0.56 to $1.50. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Laredo Petroleum.
Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings data on Tuesday, November 5th. The oil and gas producer reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.02. The company had revenue of $193.57 million for the quarter, compared to analyst estimates of $215.83 million. Laredo Petroleum had a net margin of 5.87% and a return on equity of 13.81%. During the same period in the prior year, the company posted $0.27 EPS.
Several equities analysts recently issued reports on LPI shares. JPMorgan Chase & Co. raised shares of Laredo Petroleum from an “underweight” rating to a “neutral” rating in a report on Wednesday, July 31st. Zacks Investment Research lowered shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. ValuEngine lowered shares of Laredo Petroleum from a “sell” rating to a “strong sell” rating in a report on Friday, November 1st. Finally, Williams Capital set a $4.50 price objective on shares of Laredo Petroleum and gave the company a “buy” rating in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Laredo Petroleum presently has an average rating of “Hold” and a consensus target price of $4.55.
In other Laredo Petroleum news, major shareholder Warburg Pincus Llc sold 69,874 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $2.76, for a total value of $192,852.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in LPI. First Trust Advisors LP boosted its stake in Laredo Petroleum by 79.2% in the first quarter. First Trust Advisors LP now owns 589,417 shares of the oil and gas producer’s stock valued at $1,821,000 after acquiring an additional 260,525 shares in the last quarter. Denali Advisors LLC boosted its stake in Laredo Petroleum by 908.9% in the second quarter. Denali Advisors LLC now owns 310,794 shares of the oil and gas producer’s stock valued at $901,000 after acquiring an additional 279,989 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Laredo Petroleum during the second quarter worth $104,000. Birch Hill Investment Advisors LLC acquired a new stake in shares of Laredo Petroleum during the second quarter worth $56,000. Finally, Arizona State Retirement System lifted its stake in shares of Laredo Petroleum by 1.7% during the second quarter. Arizona State Retirement System now owns 238,516 shares of the oil and gas producer’s stock worth $692,000 after buying an additional 3,957 shares during the period. Institutional investors own 94.72% of the company’s stock.
Shares of NYSE:LPI traded up $0.02 during trading on Tuesday, reaching $2.60. 4,458,172 shares of the company were exchanged, compared to its average volume of 5,503,079. The firm has a market capitalization of $612.67 million, a PE ratio of 2.80 and a beta of 1.62. The business’s fifty day simple moving average is $2.38 and its 200-day simple moving average is $2.75. Laredo Petroleum has a 12-month low of $2.03 and a 12-month high of $5.84. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.13 and a quick ratio of 1.13.
Laredo Petroleum Company Profile
Laredo Petroleum, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas, the United States. The company also provides midstream and marketing services comprising transportation and marketing of oil and natural gas; and natural gas lift systems, crude oil and natural gas gathering, and water delivery and takeaway services.
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