Brokerages expect that Laredo Petroleum, Inc. (NYSE:LPI) will announce earnings of $0.11 per share for the current fiscal quarter, according to Zacks. Nine analysts have made estimates for Laredo Petroleum’s earnings. The highest EPS estimate is $0.14 and the lowest is $0.05. Laredo Petroleum posted earnings of $0.13 per share during the same quarter last year, which would indicate a negative year over year growth rate of 15.4%. The company is scheduled to issue its next quarterly earnings report after the market closes on Monday, August 7th.
On average, analysts expect that Laredo Petroleum will report full year earnings of $0.47 per share for the current year, with EPS estimates ranging from $0.32 to $0.58. For the next year, analysts expect that the business will post earnings of $0.60 per share, with EPS estimates ranging from $0.27 to $1.59. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Laredo Petroleum.
Laredo Petroleum (NYSE:LPI) last posted its earnings results on Wednesday, May 3rd. The oil and gas producer reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by $0.01. The company had revenue of $189 million for the quarter, compared to analyst estimates of $164.39 million. Laredo Petroleum had a positive return on equity of 75.64% and a negative net margin of 1.78%. The firm’s revenue was up 77.3% on a year-over-year basis. During the same period last year, the business earned $0.08 earnings per share.
LPI has been the topic of several recent research reports. Credit Suisse Group restated an “underperform” rating and issued a $15.00 price target on shares of Laredo Petroleum in a research report on Friday, June 2nd. Seaport Global Securities cut Laredo Petroleum from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $19.00 to $9.00 in a research report on Wednesday, June 21st. J P Morgan Chase & Co dropped their target price on Laredo Petroleum from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 31st. Scotiabank reiterated a “hold” rating and set a $15.00 target price on shares of Laredo Petroleum in a research report on Friday, May 5th. Finally, Williams Capital set a $16.00 target price on Laredo Petroleum and gave the stock a “hold” rating in a research report on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company. Laredo Petroleum presently has an average rating of “Hold” and a consensus target price of $14.63.
Laredo Petroleum (NYSE:LPI) traded down 1.23% during mid-day trading on Thursday, reaching $12.80. The company had a trading volume of 2,647,252 shares. Laredo Petroleum has a 12 month low of $9.48 and a 12 month high of $16.47. The firm’s 50 day moving average price is $11.20 and its 200-day moving average price is $12.80. The company’s market capitalization is $3.10 billion.
Several large investors have recently added to or reduced their stakes in the company. Comerica Bank boosted its stake in Laredo Petroleum by 37.4% in the fourth quarter. Comerica Bank now owns 18,762 shares of the oil and gas producer’s stock worth $259,000 after buying an additional 5,107 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Laredo Petroleum by 22.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 934,914 shares of the oil and gas producer’s stock worth $13,220,000 after buying an additional 171,994 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Laredo Petroleum during the fourth quarter worth about $4,382,000. Norges Bank bought a new stake in Laredo Petroleum during the fourth quarter worth about $25,204,000. Finally, Highbridge Capital Management LLC bought a new stake in Laredo Petroleum during the fourth quarter worth about $392,000.
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Laredo Petroleum Company Profile
Laredo Petroleum, Inc (Laredo) is an independent energy company. The Company is focused on the acquisition, exploration and development of oil and natural gas properties, and the transportation of oil and natural gas from such properties primarily in the Permian Basin in West Texas. It operates through two segments: Exploration and production of oil and natural gas properties, and Midstream and marketing.
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