Q3 2016 Earnings Forecast for Laredo Petroleum Inc. Issued By Williams Capital (LPI)
Laredo Petroleum Inc. (NYSE:LPI) – Research analysts at Williams Capital increased their Q3 2016 earnings per share (EPS) estimates for shares of Laredo Petroleum in a research report issued to clients and investors on Monday. Williams Capital analyst G. Sorbara now forecasts that the firm will post earnings of $0.15 per share for the quarter, up from their prior estimate of $0.10. Williams Capital currently has a “Hold” rating and a $14.00 price target on the stock. Williams Capital also issued estimates for Laredo Petroleum’s FY2016 earnings at $0.48 EPS and FY2017 earnings at $0.30 EPS.
Laredo Petroleum (NYSE:LPI) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.43. The company earned $146.77 million during the quarter, compared to analysts’ expectations of $138.30 million. Laredo Petroleum had a positive return on equity of 24.95% and a negative net margin of 391.74%. The company’s revenue was down 19.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.05 EPS.
A number of other research analysts also recently issued reports on LPI. FBR & Co began coverage on shares of Laredo Petroleum in a research report on Tuesday, September 13th. They set an “outperform” rating and a $14.00 target price for the company. KLR Group boosted their target price on shares of Laredo Petroleum from $11.00 to $13.00 and gave the company a “hold” rating in a research report on Thursday, September 8th. Zacks Investment Research upgraded shares of Laredo Petroleum from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Wednesday, October 5th. Nomura reiterated a “neutral” rating and issued a $11.00 price objective (up previously from $10.00) on shares of Laredo Petroleum in a research report on Tuesday, June 21st. Finally, Barclays PLC upped their price objective on shares of Laredo Petroleum from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $12.61.
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Laredo Petroleum (NYSE:LPI) traded down 0.413% on Tuesday, reaching $13.255. The company had a trading volume of 1,392,962 shares. The company’s 50-day moving average price is $12.49 and its 200 day moving average price is $11.38. The firm’s market capitalization is $2.96 billion. Laredo Petroleum has a 1-year low of $3.90 and a 1-year high of $13.93.
Several hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada boosted its stake in Laredo Petroleum by 144.4% in the second quarter. Royal Bank of Canada now owns 957,858 shares of the company’s stock valued at $10,037,000 after buying an additional 565,899 shares during the period. Public Employees Retirement System of Ohio boosted its position in Laredo Petroleum by 9.9% in the second quarter. Public Employees Retirement System of Ohio now owns 49,625 shares of the company’s stock worth $520,000 after buying an additional 4,470 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Laredo Petroleum by 14.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 275,804 shares of the company’s stock worth $2,891,000 after buying an additional 34,106 shares during the last quarter. Pine River Capital Management L.P. bought a new position in Laredo Petroleum during the second quarter worth $5,940,000. Finally, Amalgamated Bank boosted its position in Laredo Petroleum by 12.8% in the second quarter. Amalgamated Bank now owns 16,206 shares of the company’s stock worth $182,000 after buying an additional 1,838 shares during the last quarter. 98.78% of the stock is owned by institutional investors and hedge funds.
In other news, VP Patrick J. Curth sold 17,000 shares of the stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $12.57, for a total value of $213,690.00. Following the completion of the sale, the vice president now owns 172,926 shares of the company’s stock, valued at approximately $2,173,679.82. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.50% of the stock is currently owned by insiders.
About Laredo Petroleum
Laredo Petroleum, Inc (Laredo) is an independent energy company 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. The Company’s segments include Exploration and production, and Midstream and marketing.
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