Laredo Petroleum Inc (NYSE:LPI) – Research analysts at Piper Jaffray Companies decreased their FY2018 earnings estimates for Laredo Petroleum in a research note issued on Wednesday, January 9th. Piper Jaffray Companies analyst K. Harrison now forecasts that the oil and gas producer will earn $0.98 per share for the year, down from their previous forecast of $1.06. Piper Jaffray Companies currently has a “Neutral” rating on the stock. Piper Jaffray Companies also issued estimates for Laredo Petroleum’s Q4 2018 earnings at $0.21 EPS.
LPI has been the subject of a number of other research reports. MKM Partners started coverage on Laredo Petroleum in a research note on Wednesday, December 5th. They set a “buy” rating and a $9.00 price objective for the company. Williams Capital set a $6.00 price objective on Laredo Petroleum and gave the company a “hold” rating in a research note on Wednesday, December 12th. Zacks Investment Research cut Laredo Petroleum from a “hold” rating to a “sell” rating in a research note on Wednesday, December 12th. Robert W. Baird reduced their target price on Laredo Petroleum from $10.00 to $3.00 and set a “neutral” rating for the company in a report on Friday, January 4th. Finally, Capital One Financial lowered Laredo Petroleum from an “overweight” rating to an “underweight” rating in a report on Thursday, December 20th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Laredo Petroleum currently has an average rating of “Hold” and an average price target of $10.00.
Shares of NYSE:LPI opened at $4.18 on Thursday. The firm has a market cap of $933.19 million, a price-to-earnings ratio of 6.97 and a beta of 1.61. Laredo Petroleum has a 12-month low of $3.00 and a 12-month high of $11.68. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.73 and a quick ratio of 0.73.
Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings data on Monday, November 5th. The oil and gas producer reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.03). The company had revenue of $279.70 million for the quarter, compared to analysts’ expectations of $276.95 million. Laredo Petroleum had a net margin of 51.61% and a return on equity of 24.30%. The firm’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.13 EPS.
Several institutional investors have recently bought and sold shares of LPI. BlackRock Inc. increased its holdings in shares of Laredo Petroleum by 118.3% in the 3rd quarter. BlackRock Inc. now owns 22,944,636 shares of the oil and gas producer’s stock worth $187,459,000 after purchasing an additional 12,434,795 shares in the last quarter. Laurion Capital Management LP bought a new stake in shares of Laredo Petroleum in the third quarter worth $29,316,000. Dimensional Fund Advisors LP grew its holdings in shares of Laredo Petroleum by 52.4% in the second quarter. Dimensional Fund Advisors LP now owns 7,234,971 shares of the oil and gas producer’s stock worth $69,599,000 after acquiring an additional 2,487,113 shares during the period. Marshall Wace LLP grew its holdings in shares of Laredo Petroleum by 4,925.8% in the third quarter. Marshall Wace LLP now owns 2,021,572 shares of the oil and gas producer’s stock worth $16,516,000 after acquiring an additional 1,981,348 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of Laredo Petroleum by 33.2% in the third quarter. AQR Capital Management LLC now owns 7,588,133 shares of the oil and gas producer’s stock worth $61,995,000 after acquiring an additional 1,890,401 shares during the period.
Laredo Petroleum Company Profile
Laredo Petroleum, Inc operates as an independent energy company in the United States. It operates through two segments, Exploration and Production; and Midstream and Marketing. The company engages in the acquisition, exploration, and development of oil and natural gas properties; and the transportation of oil and natural gas primarily in the Permian Basin in West Texas, as well as rig fuel, natural gas lift, and water delivery and takeaway services.
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