Q1 2017 EPS Estimates for Laredo Petroleum Inc Lowered by KeyCorp (LPI)
Laredo Petroleum Inc (NYSE:LPI) – Equities research analysts at KeyCorp reduced their Q1 2017 earnings per share estimates for Laredo Petroleum in a report issued on Tuesday. KeyCorp analyst C. Stevens now anticipates that the oil and gas producer will post earnings of $0.11 per share for the quarter, down from their prior estimate of $0.13. KeyCorp also issued estimates for Laredo Petroleum’s Q2 2017 earnings at $0.12 EPS, Q3 2017 earnings at $0.16 EPS, Q4 2017 earnings at $0.21 EPS, FY2017 earnings at $0.60 EPS and FY2018 earnings at $0.92 EPS.
Laredo Petroleum (NYSE:LPI) last announced its earnings results on Wednesday, February 15th. The oil and gas producer reported $0.16 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.16. Laredo Petroleum had a negative net margin of 225.04% and a positive return on equity of 123.07%. The company had revenue of $184.31 million for the quarter, compared to analysts’ expectations of $159.83 million. COPYRIGHT VIOLATION WARNING: “Q1 2017 EPS Estimates for Laredo Petroleum Inc Lowered by KeyCorp (LPI)” was posted by American Banking News and is owned by of American Banking News. If you are reading this piece on another publication, it was copied illegally and republished in violation of United States and international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/04/20/q1-2017-eps-estimates-for-laredo-petroleum-inc-lowered-by-keycorp-lpi.html.
LPI has been the topic of a number of other research reports. Credit Suisse Group AG increased their price target on shares of Laredo Petroleum from $10.00 to $12.00 and gave the stock an “underperform” rating in a report on Tuesday, January 31st. Drexel Hamilton reissued a “buy” rating and issued a $18.75 price target on shares of Laredo Petroleum in a report on Wednesday, December 21st. SunTrust Banks, Inc. raised shares of Laredo Petroleum from a “hold” rating to a “buy” rating in a report on Friday, January 20th. FBR & Co decreased their price target on shares of Laredo Petroleum from $17.00 to $16.00 and set an “outperform” rating on the stock in a report on Wednesday, February 15th. Finally, KLR Group increased their price target on shares of Laredo Petroleum from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, February 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $14.61.
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Laredo Petroleum (NYSE:LPI) opened at 13.31 on Thursday. The company’s market capitalization is $3.17 billion. Laredo Petroleum has a one year low of $9.20 and a one year high of $16.47. The stock’s 50 day moving average is $13.84 and its 200 day moving average is $13.86.
A number of large investors have recently made changes to their positions in the company. Alambic Investment Management L.P. purchased a new stake in shares of Laredo Petroleum during the third quarter worth about $141,000. TradeLink Capital LLC purchased a new stake in shares of Laredo Petroleum during the third quarter worth about $156,000. Gideon Capital Advisors Inc. purchased a new stake in shares of Laredo Petroleum during the fourth quarter worth about $179,000. TLP Group LLC purchased a new stake in shares of Laredo Petroleum during the third quarter worth about $187,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Laredo Petroleum during the third quarter worth about $208,000.
In other Laredo Petroleum news, VP Patrick J. Curth sold 43,830 shares of the firm’s stock in a transaction on Friday, March 31st. The shares were sold at an average price of $14.41, for a total value of $631,590.30. Following the sale, the vice president now owns 232,386 shares of the company’s stock, valued at approximately $3,348,682.26. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Peter Kagan sold 163,207 shares of the firm’s stock in a transaction on Friday, March 31st. The stock was sold at an average price of $14.34, for a total transaction of $2,340,388.38. Following the completion of the sale, the director now directly owns 68,006 shares in the company, valued at approximately $975,206.04. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.
About Laredo Petroleum
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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